HOYLU AB PUBLISHES THE FIRST HALF YEAR 2019 INTERIM REPORT

Stockholm, Sweden, August 23, 2019

The complete version of the First Half Year 2019 Interim Report is attached in this press release and is available on Hoylu’s web site (www.hoylu.com).

“Revenue in the second quarter did not reflect the higher activity level and the increased interest and momentum we saw from our largest customers. The highlight of the quarter was the signing of a new agreement with Holland America Line for software, maintenance, services and support. The SEK 25 million deal will be delivered and invoiced monthly over a 3-year period.” says Hoylu Chief Executive Officer, Stein Revelsby.

FIRST HALF YEAR 2019
- Revenues for the first half year were SEK 12.7 million (11.4)
- Gross margin was 69 percent (70)
- Operating loss amounted to SEK 17.7 million (-16.3) *
- Profit after tax amounted to SEK -19.7 million (-16.7)
- Earnings per share amounted to SEK -1.33 (-1.14)

SECOND QUARTER 2019
- Revenues for the second quarter were MSEK 6.2 (5.3)
- Gross margin was 68 percent (70)
- EBITDA for the first quarter was MSEK -6.5 (-6.7) *
- Operating loss was MSEK 8.0 (-8.1) *
- Profit after tax amounted to MSEK -11.2 (-8.3)
- Earnings per share amounted to SEK -0.76 (-0.56)

* Excluding the administrative assessment of MSEK 2.1. The amount of the fine appears to be unreasonably large considering the circumstances and Hoylu is appealing the size of the amount.

The interim report for Hoylu has been prepared in accordance with the Annual Accounts Act and the Swedish Accounting Standards Board on annual report, and consolidated financial statements BFNAR 2012: 1 (K3) as well as the Swedish Securities Market Act.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu delivers innovative enterprise solutions to allow global teams to collaboratively plan, create and share information that enrichen the user experience in the virtual office. The Hoylu Suite delivers a comprehensive set of personalized connected workspaces to enable teams across locations, on any device, to work smarter and with more fun across major industries including Engineering, Education, Pharmaceutical, Construction, Manufacturing, Graphic Design and many more. For more information: www.hoylu.com or visit www.introduce.se/foretag/hoylu