Aims for a Main Market – Small Cap listing in 2023.
FOM Technologies announces record result for financial year 2021, with a more than 3-fold increase in revenue and a positive bottom line. The company is aiming for a listing on the Nasdaq Main Market – Small Cap in 2023.
Management and board of directors has approved the 2021 annual report and propose the report for final approval at the company’s general assembly meeting on Thursday the 10th of March 2022.
FINANCIAL REPORT:
Annual Report 2021 [January 1st – December 31st, 2021] has been audited by Deloitte.
HIGHLIGHTS:
• Revenue: DKK 24.207.863 (+ 257 %)
• Staff cost: DKK – 8.689.799 (+ 45 %)
• Profit before tax: DKK 1.642.454 (n/a)
• Equity: DKK 13.471.024 (+ 14 %)
• Pipeline for 2022 looks strong and promising.
MANAGEMENT REVIEW:
FOM Technologies delivers a record result for the financial year 2021 and thus lives up to the development outlined at the listing during summer of 2020. The company has more than tripled its revenue and is already delivering a positive bottom line.
Despite continuing challenges with a global COVID-19 epidemic, as well as global supply problems, the company has continued its aggressive investment in innovation, development of new products, establishment of strategic partnerships, building a global distribution network, scaling in the number of employees and of the organization of the company.
Based on the above, the company intends to work towards a listing on the Nasdaq Main Market – Small Cap in 2023. The company enters 2022 with a further strengthened platform and considers the result for the year to be very satisfactory.
FUTURE OUTLOOK AND GUIDANCE:
For the financial year 2022, the company expects continued growth at top and bottom line and starts the year with a strong pipeline of potential customer leads. The management retains the 2022 guidance of:
Revenue: DKK 26.000.000 – 30.000.000.
EBIT: DKK 1.000.000 – 3.000.000