Bildkälla: Stockfoto

Empir: Ongoing restructuring, focus on Apply - ABG

Continued operations slightly behind ABGSCe
Lowering our forecasts on the back of the Q3 report
More changes to be decided at the EGM on 23 November

Empir reported Q3 net sales of SEK 3.7m (SEK 3.4m) from continuing operations. That was 30% behind our expected SEK 5.2m. The lower sales volume translated to adj. EBIT, which was also SEK 1.5m below our forecast, at SEK -4.0m vs. ABGSCe at SEK -2.5m. Empir ended the quarter with cash and cash equivalents of SEK 38.4m following the divestment of shares in Xavi Solutionnode. After the transaction Empir owns 31.8% of Xavi Solutionnode, making it a minority holding.

Empir will host an EGM on 23 November, where it has proposed: 1) a new loan agreement with Xavi Solutionnode, 2) a dividend of Xavi Solutionnode shares to current shareholders, and 3) a handover of all shares in Empir Apply to Empir Vezzel Applications. If these proposals are accepted, Empir will: 1) have a loan agreement with Xavi Solutionnode that will generate SEK ~2m per year, 2) own 7.4% of Xavi Solutionnode, and 3) own 69.9% of Empir Vezzel Applications. All these changes are made in order to focus on the offerings by Portify and Miljöbilscentralen going into 2022.
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