Anoto publishes its annual report 2020 and corrects for a minor change in results 2020
Anoto Group AB (“Anoto” or the “Company”) today publishes its annual report 2020. The report is available on the Company’s website, www.anoto.com.
Compared to previously communicated results in the year-end report, Anoto reports a minor change in the results in the annual report. The corrections on the consolidated results are related to a previously incorrect treatment of liquidated subsidiaries and calculation of currency effect on intercompany balances. A write-down of liquidated subsidiaries for MSEK 13.4 was previously booked in consolidated results but should instead have been eliminated in consolidation. Furthermore, a currency gain of MSEK 2.5, resulting from currency fluctuations on intercompany balances, was previously not reported and has now been booked in consolidated results. Both items have a positive impact on the Group’s consolidated results, with a total effect of MSEK +15.9. The Group’s results for 2020 amounts to MSEK -128 compared to what was reported in the year-end report MSEK -144 and earnings per share amounts to -0.72 compared to -0.76. The figures have been updated in the annual report for 2020.
The Group also accounts 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 in subsidiaries. As a result of operating losses in subsidiaries, the parent company has written down MSEK -8.3 on the value of the parent company’s shares in Anoto AB and -21.5 MSEK on receivables from Anoto Korea. These corrections have also been updated in the annual report for 2020, with no impact on the Group’s consolidated results.
For further information, please contact:
Perry Ha, CEO, Anoto Group AB
This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on April 30, 2021 at 23:30 CET.
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 three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.