INTERIM REPORT · 2020. 8. 20. · LMW Invest ** 2 990 887 14,51 % Tine Hertz Holding ApS 2 439 848 11,84 % Other 10 809 371 52,46 % In total 20 606 816 100,00 % * CEO Claus T. Hansen

INTERIM REPORT 2020-01-01 – 2020-06-30

OMNICAR HOLDING AB

INTERIM REPORT Q2 | PAGE 2

*Earnings per share: The net profit or loss for the period divided by the average number of shares.

The average number of shares in the Group for the second quarter amounted to 20 606 816. The registered number of shares in OmniCar as at 30 June 2020 totalled 20 606 816. **Solvency: Equity as a percentage of the balance sheet total.

”OmniCar” or the ”Company” means the Group, namely OmniCar Holding AB (registered under company registration number 559113-3987) and its wholly owned subsidiary

Omnicar A/S. Omnicar A/S, which is the Group’s operating subsidiary, started doing business in February 2016. OmniCar Holding AB was formed in May 2017.

Interim report – Summary

H1 (2020-01-01 - 2020-06-30) • Revenue totaled 5 984 TSEK

• Profitafterfinancialincomeand expenses,netamountedto502TSEK

• Earningspershare*is0,024

Q2 2020 (2020-04-01 - 2020-06-30) • Revenuetotalled2610TSEK

• Profitafterfinancialincomeand expenses,netamountedto233TSEK

• Earningspershare*0,011SEK

• **Thesolvencyratiowas-320%

Q2

H1


Significant events in Q2 2020 APRIL

2020-03-04 Omnicar Holding AB’s presents interim report Q4 2019.

2020-04-09 Omnicar Holding AB Covid 19 update.

MAJ

2020-05-12 Updated date for Omnicar Holding AB’s release of annual report 2019 + AGM date.

2020-05-29 Omnicar Holding AB presents Q1 2020 report.

JUNI

2020-06-03 Notice of Annual General Meeting of OmniCar Holding AB (publ). The shareholders of OmniCar Holding AB (publ) are invited to the Annual General Meeting on June 25, 2020.

2020-06-04 Audit report.

2020-06-04 Omnicar Holding AB presents annual report.

2020-06-25 Annual General Meeting and report from the Annual General Meeting of OmniCar Holding AB (publ).

2020-06-30 Press release: Ready to announce new business.

Significant events post period end 2020-08-17 Omnicar Holding AB announces date for Q2 2020 report.

2020-08-20 Omnicar Holding AB presents Q2 2020 report.


CEO has the floor

Claus T. Hansen, CEO OMNICAR Holding AB

Dear shareholders,

Today, we are releasing our Q2 2020 report. It does not contain any major surprises and the numbers are in line with what we said they would be in our Q1 2020 report. We now have two consecutive quarters showing a profit.

Our software business will continue, and we will remain a SAAS company.

Car owners are looking for convenience, a trend we see in other sectors as well. You no longer have to deliver your

car at the workshop in the early morning and pick it up in the afternoon.

From 1 October we will be offering car owners to have their car repaired either at their home address or at any other preferred location (workplace). We will be able to manage around 85% of all repair needs with our mobile workshop fitted with the most advanced tools available. Services are ranging from tire change, service inspections, aircon service and change of mechanical parts (figure 1).

OMNICARSERVICE CAPTURES ALL OF OUR CUSTOMERS’ POTENTIAL REVENUE FOR SERVICES RELATED TO THE CAR

Figure 1.

From 1 October, OmnicarService will bring the workshop to your private home

or your workplace.


Our first mobile workshop is currently being fitted and we have employed two highly skilled auto mechanics – our repair service will be operational 7 days a week and one workshop has a monthly revenue potential of SEK 500,000 with a gross margin of around 60%. We expect it will take around three months to reach full revenue potential for one workshop. Our aim is to have 5-8 mobile workshops

operating in 2021. But we are tapping into a huge and very profitable market, so if we are successful this number could be higher.

We will use our own software to manage our customers and the below workflow (figure 2).

THE FIRST MOBILE WORKSHOP

STEP 1Auto repair services - online booking (subscription)

STEP 2 Thank you for your

booking request - we will contact you shortly

Im suntion cus, odis arum, te et, omnissi taturessime volutatur sae voluptaque nes endae pa verferi blam,


TAK FOR BESTILLING AF VÆRK STEDSTID HOS OMNIC AR SERVICE

SEND

HENIENISCIL MIN RERO MI, VOLUPTIONSE

STEP 3 An automotive technician contacts the customer and confirms the booking

STEP 5 Automotive technician orders spare parts from distributor

STEP 6 The mechanic performs the service at the customers’ door step. After the service is complete the mechanic will process the billing and send a service report to the customer

Omnicar dongle is installed providing live feed car information to Omnicarservice

OMNICARSERVICE



TAK FORDI DU VALGTE VORES VÆRK STED HOS OMNIC AR SERVICE

SEND


STEP 6AFollow-up email. Rate your service experience on trust pilot



BEKR ÆF TELSE AF VÆRK STEDSTID HOS OMNIC AR SERVICE

SEND


STEP 4 Confirmation email or/and SMS is sent to the client

STEP 7New booking is complete

Tailored onlinecommunication program(see appendix 1)

Figure 2.

CRM

DB


In addition to our repair service, we will offer our customers tailored service contracts. We have an extensive knowledge about car customer needs, and we know that an average service contract has a monthly value of SEK 400 and an average length of 52 months.

As little as 1,000 service agreements with an average subscription term of 52 months at an average price of SEK 400 add up to more than SEK 20.8 million in terms of service contract value.

In addition to private car owners, we see a huge upside in the b-b segment servicing companies cars.

We are indeed a tech company – we are just merging our tech with auto repair fulfilment and topping it with advanced marketing and tracking technology.

I am looking forward to sharing the progress with you going forward // Please feel free to write me.

Our proprietary marketing solution will be implemented at new customers to ensure customer loyalty (figure 3)

11-MONTH SERVICE Only for customers who have+5 yrs

cars and no service agreement.

1:1 trigger-based communcation based on customer data.



BESTIL ÅRLIGT SERVICEEF TERSYN HOS OMNIC AR SERVICE

SEND


SERVICE BEFORE INSPECTIONCan be sent to customers

2 mths before inspection date.

1:1 trigger-based communcation based on customer data and knowledge of when timing

is of importance.



BESTIL ÅRLIGT SERVICEEF TERSYN HOS OMNIC AR SERVICE

SEND


Figure 3.

OPTIONAL SEASONAL EMAILS1:1 trigger-based communication

based on customerdata



SKIF T TIL VINTERDÆK HOS OMNIC AR SERVICE

SEND




SKIF T TIL SOMMERDÆK HOS OMNIC AR SERVICE

SEND



Revenue The Group’s net revenue for the period amounted to 2 610 TSEK.

Financial performance

The Group’s Q2 2020 interim loss after tax totalled 233 TSEK.

Liquidity

The Group’s cash and cash equivalents as at 30 June 2020 amounted to 701 TSEK.

Solvency ratio

The Group’s solvency ratio as at 30 June 2020 was -320 %.

PERFORMANCE FIGURES FOR THE PERIOD

SHAREHOLDINGS AS AT 2020-06-30

Name Number of shares Share of votes and capital

Claus T. Hansen/ Oliver Invest ApS 4 366 710 21,19 %

LMW Invest ** 2 990 887 14,51 %

Tine Hertz Holding ApS 2 439 848 11,84 %

Other 10 809 371 52,46 %

In total 20 606 816 100,00 %

* CEO Claus T. Hansen owns 100% of the shares in Oliver Invest ApS. ** LMW Invest was formed, during Q2 2018, and consists of Mayday Holding ApS, Wildcard.dk ApS and Lippa2008 ApS. Former board member Mikkel Lippmann owns 100% of the shares in Wildcard.DK ApS; former board member Stig Jensen owns 100% of the shares in Lippa2008 ApS and co-founder Mikkel SteenAndersen owns 100% of the shares in Mayday Holding ApS.


Shares There is one share type in OmniCar. The Company’s shares are listed on Spotlight under the ticker symbol ”OMNI”.Each share entitles the holder to a pro rata share in the Company’s assets and results. As at 30 June 2020, the number of shares was 20 606 816. The average numberof shares during the second quarter of 2020 was 20 606 816.

WarrantsAt the extraordinary general meeting held on 29 May 2017, OmniCar approved two warrant programmes, one offered to the board of directors and employees of the Company and one to 1CT Management ApS. The warrant programmes comprise a total of 1 361 957 warrants of the 2017/2020 series, each such warrant entitling the holder to subscribe for one (1) new share in the Company at a price per share of 5,40 SEK. Full exercise of both warrantprogrammes will thus increase the number of shares in the Company by 1 361 957, resulting in a dilution of around 8,6 %.

An additional warrant program was approved at the extraordinary general meeting held on 21 December 2017, comprising a total of 1 500 000 warrants. Each warrant gives its holder the right to subscribe for one (1) new share, at a subscription price of 18,60 SEK per share, during 1 December 2019 to 30 November 2020. If the warrant program is fully exercised for subscription of shares the resulting dilution will be around 9,4 %. Full exercise of all warrant program will increase the number of shares by 2 861 957, resulting in a dilution of approximately 16,5 %.

Warrant programme for the board of directorsand employees of OmniCarAs compensation in the form of warrant programmes is common in Denmark (and Sweden), the Company has decided to use this compensation method as well.In addition, the warrant programmes are also a way of attracting competent employees to a company which isat a relatively early stage as well as a way of creating good value for the Company. The warrant programme offered to members of the board of directors and employees of OmniCar is – with the exception of the shareholder’spre-emption rights – exclusively offered to Claus T. Hansen, Jesper Aagaard, Mikkel Lippmann, Stig Jensen, Lotte Hansen and Thomas Bendik-Poulsen.

Warrants may also be subscribed for and purchased through own companies. The right to subscribe for warrants also

applies to the subsidiary OmniCar A/S. Any warrants held by OmniCar A/S may be used as an incentive programme in connection with recruitment. The warrant programmes comprise a maximum of 1 237 000 warrants, entitling theholders to subscribe for 1 237 000 new shares in the Company. The warrants may be exercised from and including 10 June 2019 through 8 June 2020.

The parties entitled to subscribe for warrants are listed below:• Members of the executive board and the board of directors may subscribe for a maximum of 940 000 warrants• Employees may subscribe for a maximum of 7 000 warrants• OMNICAR A/S may subscribe for a maximum of 290 000 warrants

Principles applied in the interim reportThe financial statements of the Group and the parent company are prepared in accordance with the general recommendations and guidelines of the Swedish Accounting Standards Board’s (Bokföringsnämnden)as well as BFNAR 2012:1 Annual report and consolidated financial statements (K3).

Audit The interim report has not been audited by the Company’s auditor.

Financial calendarThe Company prepares and publishes a financial report at each quarter end. Upcoming reports are planned as follows:

• Q3 2020 report 2020-11-29• Q4 2020 report 2021-02-28

Submission of interim reportCopenhagen, 30. August 2020 OmniCar Holding AB,The board of directors

OmniCar Holding AB is required under the Swedish Securities Market Act (lagen om värdepappersmarknaden) to disclose the information provided herein.The information has been provided by the above contact person for publication on 20 August 2020.


FINANCIAL OVERVIEW

Omnicar A/S, which is the Group’s operating subsidiary, started doing business in February 2016. OmniCar Holding AB was formed in May 2017, which resulted in the group relationship. The transaction was effected as a transaction between jointly controlled companies.

The consolidated financial statements thus take the form of merged financial statements, i.e. as if the Group was formed on 1 January 2017. Since OmniCar Holding AB was formed in May 2017, no comparative figures for the first quarter of 2017 are available for the parent company.

Summarised income statement – Group

(SEK thousand) 2019-04-01- 2020-04-01- 2019-01-01- 2020-01-01- 2019-06-30 2020-06-30 2019-06-30 2020-06-30 3 mth. 3 mth. 6 mth. 6 mth.

Operating income

Revenue 2 803 2 369 7 291 5 043

Other income 3 241 3 941

Total operating income 2 806 2 610 7 294 5 984

Operating expenses

Raw materials and consumables -304 -71 -463 -149

Other external expenses -30 270 -794 -34 449 -2 845

Staff costs -3 289 -1 123 -7 317 -2 325

Amortisation and depreciation of intangible and tangible assets -832 -0 -1 957 0

Total operating expenses -34 695 -1 988 -44 186 -5 319

Profit/(loss) before financial income and expenses, net -31 889 622 -36 892 665

Income or loss from financial investments

Other interest earned and similar income -511 0 151 123

Interest expenses and similar expenses -387 -389 -712 -286

Total financial income and expenses, net -898 -389 -561 -163

Profit/(loss) after financial income and expenses, net -32 787 233 -37 453 502

Tax on profit or loss for the year - - - -

NET PROFIT OR LOSS FOR THE PERIOD -32 787 233 -37 453 502


SUMMARISED BALANCE SHEET – GROUP

(SEK thousand) 2019-06-30 2020-06-30 2019-12-31

ASSETS

Fixed assets

Intangible assets 7 0 0

Tangible assets 0 0 0

Total assets 7 0 0

Current assets

Accounts receivable 76 745 717

Deferred tax asset - 0 0

Other receivables 496 760 750

Prepayments and accrued income 385 86 246

Total receivables 957 1 591 1 713

Cash at bank and in hand 4 152 701 1 146

Total current assets 5 109 2 292 2 859

TOTAL ASSETS 5 116 2 292 2 859

EQUITY AND LIABILITIES

Share capital 1 513 2 061 2 061

Other contributed capital 56 948 55 278 56 153

Other equity -26 557 -65 194 -27 307

Net profit or loss for the period -37 453 502 -38 613

Total equity -5 549 -7 353 -7 706

Other debt 0 1 633 1 800

Total long term debt 0 1 633 1 800

Payables to credit institutions 4 500 0 0

Trade payables 2 475 1 477 2 189

Tax liability 0 0 0

Other payables 505 3 592 2 585

Accrued expenses and prepaid income 3 185 2 943 3 991

Total short-term liabilities other than provisions 10 665 8 012 8 765

TOTAL EQUITY AND LIABILITIES 5 116 2 292 2 859


CASH FLOW IN SUMMARY – THE GROUP

(SEK thousand) 2019-01-01- 2020-01-01- 2019-01-01- 2019-06-30 2020-06-30 2019-12-31

Cash flow from operating activities before changes in working capital -11 537 502 -18 228

Changes in working capital 1 214 -722 8 524

Cash flow from operations -10 323 -220 -9 704

Cash flow from investment activities -7 0 0

Cash flow from finance activities 11 173 -213 7 552

Cash flow for the period -843 -433 -2 152

Cash at the beginning of the period 3 269 1 146 3 269

Effect of exchange rate changes on cash 40 -12 29

Cash at the end of the period 4 152 701 1 146

CHANGE IN EQUITY – THE GROUP

(SEK thousand) 2019-01-01- 2020-01-01- 2019-01-01- 2019-06-30 2020-06-30 2019-12-31

Equity at the beginning of the period 19 862 -7 706 19 862

New issue 12 500 - 13 749

New issue 0 - -

New issue 0 - -

Issue costs -1 125 - -3 497

Currency translation difference 667 -149 793

Net profit or loss for the period -37 453 502 -38 613

CLOSING BALANCE -5 549 -7 353 7 706


SUMMARISED INCOME STATEMENT - PARENT COMPANY

(SEK thousand) 2019-04-01- 2020-04-01- 2019-01-01- 2020-01-01- 2019-06-30 2020-06-30 2019-06-30 2020-06-30 3 mth. 3 mth. 6 mth. 6 mth.

Operating income

Revenue - 1 284 - 2 568

Other income 4 0 4 700

Total operating income 4 1 284 4 3 268

Operating expenses

Other external expenses -8 043 -496 -9 430 -1 499

Staff costs -97 -239 -104 -481

Total operating expenses -8 140 -735 -9 534 -1 980

Profit from operating activities -8 136 549 -9 530 1 288

Income or loss from financial investments

Result from group companies -37 439 - -37 439 -

Other interest earned and similar income 92 2 150 2

Interest expenses and similar expenses -458 - -728 -7

Total financial income and expenses, net -37 805 2 -38 017 -5

Profit/(loss) after financial income and expenses, net -45 941 551 -47 547 1 283

Tax on profit or loss for the year - - - -

NET PROFIT OR LOSS FOR THE PERIOD -45 941 551 -47 547 1 283


SUMMARISED BALANCE SHEET - PARENT COMPANY

(SEK thousand) 2019-06-30 2020-06-30 2019-12-31

ASSETS

Fixed assets

Shares in group companies 107 6 107 6 107

Total assets 107 6 107 6 107

Current assets

Accounts receivable - - -

Receivables from group companies 6 606 6 172 5 378

Other receivables - 356 305

Prepayments and accrued income 92 60 60

Total receivables 6 698 6 588 5 743

Cash at bank and in hand 3 551 1 505

Total current assets 10 249 6 589 6 248

TOTAL ASSETS 10 356 12 696 12 355

EQUITY AND LIABILITIES

Share capital 1 513 2 061 2 061

Share premium account 56 949 0 47 158

Other equity -8 120 2 554 6 000

Net profit or loss for the period -47 547 1 283 -50 604

Total equity 2 795 5 898 4 615

Payables to credit institutions 4 500 - 0

Trade payable 2 175 1 656 1 794

Other payables - 2 785 2 103

Accrued expenses and prepaid income 886 2 357 3 843

Total short-term liabilities other than provisions 7 561 6 798 7 740

TOTAL EQUITY AND LIABILITIES 10 356 12 696 12 355


SUMMARISED CHANGE IN EQUITY – PARENT COMPANY

(SEK thousand) 2019-01-01- 2020-01-01- 2019-01-01 2019-06-30 2020-06-30 2019-12-31

Opening balance at the beginning of the period 38 967 4 615 38 967

New issue (Registered 2019-06-13) 12 500 - -

Other - - 6 000

New issue - - 13 749

Issue costs -1 125 - -3 497

Net profit or loss for the period -47 547 1 283 -50 604

CLOSING BALANCE 2 795 5 898 4 615

CASH FLOW IN SUMMARY - PARENT COMPANY

(SEK thousand) 2019-01-01- 2020-01-01- 2019-01-01 2019-06-30 2020-06-30 2019-12-31

Cash flow from operating activities before changes in working capital -6 636 1 283 -10 087

Changes in working capital -3 095 -1 787 4 233

Cash flow from operations -9 731 -504 -5 854

Cash flow from investment activities -57 0 -1 357

Cash flow from finance activities 11 375 0 5 752

Cash flow for the period 1 587 -504 -1 459

Cash at the beginning of the period 1 964 505 1 964

Effect of exchange rate changes on cash - - -

Cash at the end of the period 3 551 1 505

OMNICAR HOLDING AB

Documents

INTERIM REPORT · 2020. 8. 20. · LMW Invest ** 2 990 887 14,51 % Tine Hertz Holding ApS 2 439 848 11,84 % Other 10 809 371 52,46 % In total 20 606 816 100,00 % * CEO Claus T. Hansen