Seluxit increases expectations to 2019/20

Company Announcement No. 22
Aalborg, 24th of June 2020

Seluxit increases revenue expectations for 2019/20 to 21 million DKK

We are now so close to the end of the financial year, that we can upgrade the previously announced revenue expectations for the 2019/20 financial year from 20 to 21 million DKK. Profit after tax is expected to be around -6 million DKK compared to our previously announced expectations of a result between -6 and -7 million DKK.

Daniel Lux, CEO:

”We are really proud of this year's results, where we have exceeded our previously announced revenue expectations. With expected revenue in 2019/20 of 21 million DKK, we have gone from a revenue of 8 million DKK in 2017/18, before we listed on Nasdaq First North Growth Market, to 21 million DKK, two years after, which corresponds to an increase of 160%.

It is still difficult to predict the effect of COVID-19 on the market and the visibility in relation to how and to what extent it will affect Seluxit. We aim to give our expectations for next financial year in connection with the publication of the 2019/20 annual report.”

For further information, please contact CEO Daniel Lux.

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About Seluxit:
Seluxit is an Internet of Things (IoT) solution provider. We help product manufacturers connect their physical products to the Internet, and benefit from the value of data.  Seluxit’s vision is to be a major contributor to the story of the Internet of Things — how we humans can orchestrate connected products to improve our lives, while preserving our security and privacy.

NOTE: In case of any discrepancies between the English and the Danish version of the announcement, the Danish version prevails.