Aino Health AB (publ) has published its Interim Report for the first quarter, 1 January – 31 March 2017 today. See attachment.
Consolidated costs for product development and internationalisation have been booked as expenses during the period.
The Finnish subsidiary accounted for the Aino Group’s entire reported turnover during the period.
Comparative figures for the corresponding period in 2016 are not available because the Company was founded on 19 May 2016.
The period 1 January – 31 March 2017
Consolidated net turnover amounted to SEK 4,715 K. Other operating income was SEK 0 K.
Consolidated profit/loss after financial items amounted to SEK 5,421 K. The loss was mainly attributable to the recruitment of key personnel and preparations for international expansion. These expenses for international expansion relate to business development costs focusing on acquiring customers and suppliers for Aino’s concept in Germany and Sweden. Aino collaborates with partners that have good contacts and local knowledge, especially in the German market.
Consolidated earnings per share were SEK 1.0.
Word from the CEO
2017 has begun just as well as I hoped. Our strategy and plan for the year is well defined and clear. First, we will build our organisation in Sweden and Germany, launch the Company in our new markets, win business and then expand. Simultaneously, we will continue to deliver a positive result in Finland.
Step one in our strategy has been to build a strong organisation, for which it is crucial to find good Country Managers. And we have done that. In Sweden, we have appointed Charlotte Boij as CEO of Aino Health Sweden AB. Charlotte has extensive experience from leading positions in the insurance industry, including CEO of Ikano Insurance, Nordic reinsurance director at Trygg Hansa/Codan/RSA and CEO of Länsförsäkringar International.
In Germany, we have hired Peter Seeger as Country Manager. His official first day at Aino Health will be 1 June, but his appointment was already announced on 9 May in Stuttgart in conjunction with the public launch of Aino at this year’s largest Corporate Health event. Peter has a highly successful background with 20 years of experience from various IT and consulting companies such as CSC, Accenture, Capgemini and Hewlett Packard where he was responsible for sales and held different management functions.
As I mentioned in the Annual Report, I have put all my time in 2017 into conducting sales meetings in Germany and Sweden and I feel we are close to reaching the tipping point whereby we at Aino Health become so business critical that organisations begin to seek help from us. For example, companies or public organisations with over 1,000 employees or partners.
The focus, in addition to meeting major industrial customers in both markets and developing our partnership strategy, has been to package our experience of working with outcome based contracts for introduction to Sweden’s 290 municipalities and county councils. At Aino Health, we support the model of contributing to, and receiving payment for, delivering better human outcomes and results in terms of the costs to society, and we hope and believe that our experience from similar contracts will lead to business for us in Sweden.
The reason I’m optimistic is that the digital business support delivered by Aino Health solutions and IT systems provides municipalities and county councils with the necessary overall understanding to more easily develop strategies for increasing health promotion in the workplace. This can involve faster identification of operations with risks, recommending and coordinating support from internal and external actors – but primarily to reduce costs related to short term sickness absence.
Whether we speak with Sweden’s municipalities and county councils, direct customers or partners, we know that through the help of Aino Health’s products and services, each organisation will gain an overall understanding of the severity and distribution of sickness absence in different units as well as the causes. Our analysis and decision support system allows managers of all levels, especially at the highest level of management, to manage sickness absence where it is to be managed – at its cause.
A clear example of this type of contract is the one we signed with Kunnan Taitoa, the leading provider of financial, purchasing and HR services to the public sector in Finland with nearly 200 customers. Their mission is to raise the quality of their customers’ decision making through effective financial solutions and processes for human resources departments. The collaboration has already resulted in two important and strategic orders with Finnish municipalities.
Now I have achieved part one of our strategy for the year. I have a good management team and three incredibly good Country Managers in Charlotte Boij (Sweden), Peter Seeger (Germany) and Markku Pitkänen (Finland). The pilot project we conducted with Kunnan Taitoa has resulted in new business, our arrangment for Swedish municipalities and county councils have received a positive response, as well as our proposals to create strategic partnerships especially with insurance companies – so we are building a healthy pipeline of potential business with both companies and partners.
In Q2, we will conduct our official launches of Aino Health in Sweden and Germany (as I described above), continue to build a strong organisation and focus fully on winning new business in our markets. Our strategy still feels very right and timely.
CEO Aino Health AB
This information is such information that Aino Health AB (publ) 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 below, at May 12, 2017 at 08:30 CET.
For more information, please contact:
Jyrki Eklund, CEO Aino Health
Tel: +358 40 042 4221. E mail: email@example.com
About Aino Health
Aino Health is the leading solution provider in Corporate Health Management; we are for private and public organisations what doctors are for people. The company’s complete system of IT based services reduces sick leave, related costs and deliver long term prosperity, increased productivity and employee engagement by adopting health, wellbeing and safety as an everyday activity.
Aino Health AB (publ) is listed at Nasdaq Stockholm First North (Ticker: AINO). Erik Penser AB, +46 8 463 83 00, is the Certified Advisor to the company.