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    EPTI   SE0013774668

EPTI AB

(EPTI)
  Report
Delayed Nasdaq Stockholm  -  07:30 2022-12-01 am EST
1.995 SEK   +3.64%
11/15EPTI publishes Interim Report for Q3 2022
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11/15EPTI AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
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11/14EPTI brings forward the publication of its interim report for Q3 2022 to November 15, 2022
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

EPTI's majority-owned gig-service Workamo acquires gig platform provider Simpell

12/31/2021 | 03:16am EST

Workamo and Simpell owners have signed a SPA where Workamo acquires all outstanding shares in Simpell. The purchase price has been agreed at SEK 19,5 million.

EPTI (“EPTI” or “the Company”) have through their majority-owned venture Workamo and with its other owner, PE Accounting, signed an SPA to acquire 100% of the shares in Simpell Gig AB (“Simpell”). Simpell is an online marketplace that matches freelancers and companies in an all-in-one platform. With the acquisition of Simpell, Workamo starts its acquisition journey and increases its revenue streams and synergies with a company that has a scalable technology for further growth.
Workamo launched its platform in September 2020 and has recently seen strong organic growth driven entirely without marketing the service. So far, the increase during the fourth quarter compared to the same period last year is +319% for the invoiced amount and +795% for the number of freelancers. The annual growth will be estimated around +280% for the invoiced amount and 500% for the number of invoices sent.

The purchase price has been agreed at SEK 19,5 million and the entire amount will be paid in newly issued shares in Workamo. The agreement date and access date is December 31 2021.

Simpell was founded in 2018 with the vision to become a market leading all-in-one platform where freelancers collaborate with customers. Simpell has managed to withhold +30% annual growth rate since the start and they are projecting +200% revenue increase during 2022.Workamo was founded in 2019 as a joint-venture between EPTI and the digital accounting firm PE Accounting. The company believes that by combining user experience, automation and expert knowledge within accounting,

Simpell was founded in 2018 with the vision to become a market leading all-in-one platform where freelancers collaborate with customers. Simpell has managed to withhold +30% annual growth rate since the start and they are projecting +200% revenue increase during 2022.Workamo was founded in 2019 as a joint-venture between EPTI and the digital accounting firm PE Accounting. The company believes that by combining user experience, automation and expert knowledge within accounting,

create a platform to enable both freelancers and companies in the gig economy to easily take and get paid at a low price insured with the right conditions.

“EPTI is a minority shareholder in Simpell and a majority shareholder in Workamo and it's very clear that both parties have a lot to gain from this acquisition. This acquisition is in line with EPTI’s strategy to strengthen our position within the fintech and gig-tech segment. The deal is an important step for Workamo on their journey towards becoming the market leader in the Nordics." says Arli Mujkic, CEO EPTI.

"Simpell is our colleague within the gig-platform industry and with the acquisition we will position Simpell as the master marketplace solution where freelancers will be able to access projects from all marketplaces. Simpell is a well-run company with a distinct business model." says Olof Norlander, CEO Workamo.

”Workamo adds synergies in several areas and together we will be able to offer freelancers and companies a complete solution. In addition to technology, Simpell adds extensive knowledge within customer acquisition and margin-increasing entry level services" says Rasa Golali, Founder Simpell Gig AB.

For further information, please contact:
Adam Bäckström, CFO,
adam@epti.com
Telefon: +46 73 026 68 26

För mer information, se EPTI’s hemsida www.epti.com

Bolagets Certified Adviser är Eminova Fondkommission AB | 08-684 211 00 | info@eminova.se

Information about EPTI

EPTI invests capital and operational support for companies, entrepreneurs and founders to build market-leading innovative companies under the motto “We Empower Innovation”. As a venture builder, this is done by adding experience from other founders, capital, resources, processes, state-of-the-art technology as well as commercial execution and marketing. EPTI also starts companies and joint ventures with driven co-founders and companies. The companies in EPTI’s portfolio are in the segments Gaming, Fintech, Marketplace, SaaS and Services. Since the start in 2017, a portfolio of more than 25 companies has been built up, of which the majority-owned companies comprise a total of approximately 200 coworkers in seven countries around Europe. EPTI is more than an investment company, it is partly an investment company and partly a service company. A venture builder for founders, by founders.

Information about Workamo

Workamo is a payroll system for companies working with freelancers and enables payments by handling taxes, social fees, insurance, benefits, etc. As a freelancer you can also create and send invoices through Workamo without owning a company at the market's lowest price. Workamo is owned by the venture builder EPTI and the digital accounting firm PE Accounting.

For more information see www.workamo.com or contact Olof Norlander, olof@workamo.com

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2021 112 M 10,5 M 10,5 M
Net income 2021 -103 M -9,69 M -9,69 M
Net cash 2021 15,4 M 1,45 M 1,45 M
P/E ratio 2021 -1,21x
Yield 2021 -
Capitalization 206 M 19,4 M 19,4 M
EV / Sales 2020 -
EV / Sales 2021 6,64x
Nbr of Employees 208
Free-Float 0,61%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,18 €
Average target price 0,86 €
Spread / Average Target 389%
Managers and Directors
Arli Mujkic Chief Executive Officer & Director
Adam Bńckstr÷m Chief Financial Officer
Tord Bertil Lendau Chairman
Sebastian Nyaiesh Independent Director
Hans Isoz Independent Director
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