10 June 2019
Business and financial update – In connection with funding discussions
Global Scanning A/S (“Global Scanning” or the “Group”) has initiated a process to refocus its business on the existing 2D scanning segment and Scan Dimension within 3D scanning. The Group has concluded that further development of the remaining two business segments, Shapewatch and Brand 3D, is better done in separate subsidiaries which may be divested or enter into partnerships with specialists within the respective segments.
Global Scanning will enter into discussions with investors and financial institutions to investigate its funding opportunities and has mandated Pareto Securities and Gernandt & Danielsson as financial and legal advisor in connection therewith. New funding may include bilateral loans or bond issues. Subject to i.a. the outcome of these discussions and market conditions, a refinancing of the Group’s outstanding SEK 200 million bond may follow.
Financial update In connection with the funding discussions, a financial update will be provided. The above mentioned business refocus will entail limitations in investments into Shapewatch and Brand 3D as well as other projects outside the 2D scanning segment. For the last twelve months ending 31 March 2019 the entire Group had sales and EBITDA of USD 42.6m and USD 4.7m, respectively. If excluding Shapewatch and Brand 3D, sales and EBITDA for the same period amount to USD 42.3m and USD 6.9m, respectively. For 2019, if excluding Shapewatch and Brand 3D, the Group expects sales and EBITDA to amount to USD 38.9m and USD 6.5m, respectively.
Global Scanning A/S,
Svanevang 2, 3450 Allerød
Tel: 0045 48141122
Graham Tinn, CEO
Tel: 0045 48141122,
About this information
This information is information that Global Scanning A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12 noon CEST on 10 June 2019.
The Group develops, manufactures and markets large-format scanning solutions for the computer-aided design (CAD), geographic information systems (GIS), reprographic products, copy services and document archiving segments under the brand names of Contex and Colortrac respectively. The scanners digitally capture documents, drawings and other 2D input in order to view, edit, archive, convert or print output data.
The group's products are sold across the world through a value-add distribution network and via OEM agreements with major multinational enterprises within the Large Format Printing industry.
The group operates a 3D online sharing platform and plan to combine potential 3D hardware with this platform to create new innovative products in this space.