Stockholm, Friday, July 26, 2019
As announced on June the 17th 2019 OmniCar Holding AB will be restructuring the organisation and reducing operational costs. We will, going forward focus on large scale operations such as car importers, large dealer groups, workshop chains and commercial partnering with financial leasing companies.
Our product line, SAM, supporting small dealers will be discontinued – the revenue generated from this segment cannot justify the software development cost.
Our software product supporting importers and large workshop chains, AutoCRM, will be further enhanced in 2019. AutoCRM stands for 90% of our turnover in 2019 and 2018 and only around 10% of our development and sales cost. As a positive consequence we will from 1st of July 2019 have a profitable operation. All non-profitable activities were discontinued per 30th of June 2019 as we have previous announced.
In August 2019 we will announce new plans for a new marketplace that will accelerate our future growth.
OmniCar Holding AB’s board of directors have decided that OmniCar Holding AB will not back up OmniCar A/S liquidations cost. The liquidating cost is estimated in the range of SEK 7-9 mio. As a consequence, OmniCar Holding AB has submitted a bankruptcy declaration for OmniCar A/S in Denmark, Since OmniCar A/S cannot meet its obligations to OmniCar Holding AB – this will not impact any communicated revenue numbers for 2H 2019.
Our revenue forecast will remain the same as announced on the 17th of June 2019 (2,700.000 SEK for Q3 2019 growing with 15% in Q4 2019).
All activities will be continued in OmniCar Holding AB, OmniCar AB in Sweden and OmniCar Importer ApS in Denmark.
For more information about OmniCar Holding AB, please contact:
Claus T. Hansen, CEO OmniCar Holding AB
This information is information that OmniCar Holding AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on July 26th, 2019.
The IT company OmniCar has developed a unique software for vehicle repair shops and car dealers. The solution is a digital tool that is designed to automatically manage future sales and service agreements. OmniCar helps vehicle repair shops and car dealers to manage and sell far more service contracts than before using customized additional services and subscription-based services that follow each car throughout its lifecycle.