Anoto publishes its annual report for 2023 and corrects for changes in the results as reported in the year-end report
01 May 2024 - 7:30AM
UK Regulatory
Anoto publishes its annual report for 2023 and corrects for changes
in the results as reported in the year-end report
Stockholm, 30 April 2024 - Anoto Group AB (publ) (“Anoto”) today
publishes its annual report for 2023 and corrects for changes in
the results as reported in the year-end report published on 29
February 2024. The annual report is available on the Company’s
website, www.anoto.com.
Compared to previously communicated results in the year-end
report for 2023, Anoto reports a change in the results in the
annual report. The corrections on the consolidated results stemmed
from updates made to the Group’s impairment testing and financial
forecasts, and relate to write-downs of goodwill, capitalized
costs, and investment in Knowledge AI Inc., a former subsidiary and
currently associated company of Anoto. The Group has written down
59.3 MSEK of goodwill in Livescribe Inc., and fully impaired its
remaining goodwill in Anoto Korea – 37.6 MSEK. In addition, the
Group has fully impaired its remaining fair value investment of
38.4 MSEK in Knowledge AI Inc. and 13.6 MSEK of its loan
receivables. Finally, the Group has also fully impaired its
capitalized R&D related to Knowledge AI Inc., totaling 2.8 MSEK
and an additional 2.6 MSEK of capitalized R&D for a product
nearing its end of life. All impairments had a negative impact on
the Group’s consolidated results, with a total effect of 154.3
MSEK. The Group’s results for 2023 amounts to MSEK -84.2 compared
to what was reported in the year-end report, 70.1 MSEK, and
earnings per share amounts to -0.25 SEK compared to 0.29 SEK. The
figures have been updated in the annual report for 2023.
The Group also reports a minor change in the results of the
parent company. The corrections on the parent company results are
related to a write-down of participation and loan receivables in
subsidiaries. As a result of updated impairment testing done on
subsidiaries, the parent company has written down 6.2 MSEK on the
value of the parent company’s participation in Anoto Korea and 2.1
MSEK in Anoto AB. In addition, the parent company has written down
a total of 64.1 MSEK in loan receivables, 28.6 MSEK from Anoto
Korea, 7.3 MSEK from Anoto Singapore, 27.7 MSEK from Anoto Inc.,
and 0.4 MSEK from Anoto Portugal. These corrections have also been
updated in the annual report for 2023, with no impact on the
Group’s consolidated results.
For further information contact:
Kevin Adeson, Chairman of the Board of Directors
For more information about Anoto, visit www.anoto.com or email
ir@anoto.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74
Stockholm
This information constitutes inside information as Anoto
Group AB (publ) is obliged to disclose under the EU Market Abuse
Regulation 596/2014. The information was provided by the contact
person above for publication on 30 April 2024 at 23:30
CEST.
About Anoto Group
Anoto is a publicly held Swedish technology
company known globally for innovation in the area of
information-rich patterns and the optical recognition of those
patterns. It is a leader in digital writing and drawing solutions,
having historically used its proprietary technology to develop
smartpens and related software. These smartpens enrich the daily
lives of millions of people around the world. Anoto currently has
two main business lines: Retail Products and Enterprise Solutions
& Licensing. Anoto also holds a stake in Knowledge AI, a
leading AI based education solution company. Anoto is traded on the
Small Cap list of Nasdaq Stockholm under ANOT.
- Anoto_Press release_30 April 2024
- 2023 Annual Report (Swedish)
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