Third quarter 1st July – 30th September 2020

Income amounted to SEK Zero thousand (604)

Working revenue amounted to SEK -6,681 thousand (-7,873)

Internet revenue/loss for the interval amounted to SEK -7,342 thousand (-9,790)

Money circulation from working actions amounted to SEK -5,216 thousand (-8,460)

Money and money equivalents amounted to SEK 20,717 thousand (11,569)

Diluted and undiluted earnings per share amounted to SEK -0.05 (-0.40)

Interim interval 1st January – 30th September 2020

Income amounted to SEK 715 thousand (824)

Working revenue/loss amounted to SEK -22,236 thousand (-28,503)

Internet revenue/loss for the interval amounted to SEK -25,358 thousand (-31,823)

Money circulation from working actions amounted to SEK -23,382 thousand (-23,836)

Diluted and undiluted earnings per share amounted to SEK -0.23 (-1.31)

The preferential rights situation and offset points had been registered in July. The preferential rights situation raised MSEK 35.1 in liquid belongings for the corporate after situation prices

Feedback from the CEO

The third quarter was marked by some momentous occasions within the firm’s historical past. Terranet took an vital step in its improvement with its picture evaluation sensor VoxelFlow, a technological advance that gives a rise in efficiency from 200 to 200,000 voxels per second. VoxelFlow will likely be offered on the upcoming Daimler-Mercedes Benz Startup Autobahn Expo in 2021.

Regardless of uncertainties concerning the long-term influence of the coronavirus pandemic, Terranet was in a position to signal a memorandum of understanding (MoU) with Daimler in early October. This MoU reaffirms the collaboration that has already been initiated and addresses future plans and ambitions to collaborate with Daimler within the product improvement and market launch phases as soon as the primary prototype has been examined and verified.

As a result of success of the brand new share situation the corporate carried out throughout Q2, the corporate was in a position to considerably strengthen its possession base by bringing in new long-term homeowners who’ve expressed their confidence in Terranet. Because of this possession change and a transparent path ahead for the corporate, there has additionally been a restructuring of the board, with Göran Janson stepping in as the brand new chairman of the board at an EGM that was convened in early September.

Story continues

One other vital milestone within the firm’s path ahead is the just lately issued warrant sequence, which in October raised a complete of roughly MSEK 34 for the corporate. The capital injection, which will likely be used to finance investments directed in direction of the growth of the corporate’s operations, additionally marks a turning level for the corporate for the reason that restart on the finish of 2018.

In closing, I’m very completely satisfied to announce that Johan Wångblad will be part of the corporate as our new CFO on December 1. Johan has huge expertise from Volvo Vehicles, most just lately as Head of Operations of Volvo Vehicles Expertise Fund, and can be capable to contribute to Terranet’s continued improvement along with his strong information of the automotive business.

Pär-Olof Johannesson, CEO

Important occasions throughout the interval

TerraNet introduced on 1 July that, in accordance with established assure agreements and what has beforehand been communicated by the corporate, it’ll perform a directed new situation of B shares to the guarantors within the preferential rights situation who’ve chosen to obtain assure compensation as newly issued B shares within the firm. The subscription worth within the dedication charge situation is SEK 0.40 per B share, which corresponds to the subscription worth per B-share within the preferential rights situation.

On 31 July, TerraNet referred to as an Extraordinary Common Assembly on the request of shareholders who represented roughly 19 p.c of the full variety of shares and votes within the firm. Proposers moved to appoint Göran Janson as a brand new board member and chair of the board and that Anders Rantén and Claes Lachmann resign as board members. Proposers additionally moved that the EGM set up a decision on the adoption of rules for a nomination committee.

The EGM, which was convened on four September, moved to elect Göran Janson and Christian Rasmusson as new board members. The EGM additionally elected Göran Janson as the brand new chairman of the board. Anders Rantén and Claes Lachmann resigned as board members. The EGM additionally issued a decision to undertake the rules for the appointment of an election panel in accordance with the proposal within the assembly discover.

Important occasions after the shut of the interval

On 12 October, it was introduced that the train worth for the warrants of sequence (TO1 B), with a subscription interval 12-23 October, had been set at SEK 0.72.

On 20 October, Terranet introduced that it had signed a memorandum of understanding (MoU) with Daimler to proceed its cooperation within the improvement of Voxelflow. The following step within the cooperation is a demo deliberate for the Startup Autobahn Expo (the expansion incubator and accelerator co-financed by Daimler, Porsche and Bosch) in February 2021.

The result of the train of warrants of sequence TO1 B was offered on 28 October. In whole, 47,503,386 warrants, similar to roughly 94 p.c of the excellent warrants, had been exercised for the subscription of 47,503,386 B shares at a subscription worth of SEK 0.72 per share. By way of the train of warrants of sequence TO1 B, Terranet will elevate roughly MSEK 34.2 earlier than situation prices.

On November 12, it was introduced that Johan Wångblad would be the new CFO of Terranet. Johan has huge expertise from Volvo Vehicles, most just lately as Head of Operations at Volvo Vehicles Expertise Fund, and can begin his project on December 1.

For extra data please contact:

Pär-Olof Johannesson, CEO

parolof.johannesson@terranet.se

+46 70 332 32 62

Mattias Larsson, CFO

mattias.larsson@terranet.se

+46 72 709 56 01

About TerraNet:

TerraNet develops software program for radio-based options and three-dimensional picture evaluation for superior driver-assistance techniques and autonomous autos (ADAS and AV). TerraNet is headquartered in Lund (Sweden) with improvement websites in Kyiv (Ukraine), Stuttgart (Germany) and Los Gatos, California. TerraNet Holding AB (publ) is listed on the Nasdaq First North Premier Progress Market (Nasdaq: TERRNT-B.ST).

Startsida

This data is such that TerraNet Holding AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The knowledge was made public by the Firm’s contact individual above on November 13, 2020 at 8:30 am CET.

Licensed Adviser: Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.

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