REG - Substrate Artificial Substrate AI-Class B - Trading update for the period ended 30 June 2024

Substrate Artificial Inteligence SAAnnouncement

18/07/2024 07:30

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RNS Number : 8447W  Substrate Artificial Inteligence,SA  18 July 2024

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.

 

 

18 July 2024

 

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

TRADING UPDATE FOR THE PERIOD ENDED 30 JUNE 2024

Substrate AI (AQUIS: SAI/SAI.B) announces that revenues grew by c. 256% as of
30 June 2024, compared to the same period of the previous year, and is
expected to reach EUR 9 million (unaudited data). For the first time, the
Group is expected to report a positive EBITDA of € 1.7 million.

In this sense, the expected revenue and EBIDTA are as follows:

 

 In euros            Jun-23              Jun-24 (*)  Difference (€)    Growth (%)
 Total revenues      2,553,197           9,089,187   6,535,989         256%
 EBITDA              (774,010)           1,702,938   2,476,948         320%
 (*) In the process of being audited

 In euros            Forecast 24         Jun-24 (*)  Difference (€)    Growth (%)
 Total revenues      10,250,750          9,089,187   (1,161,563)       -11%
 EBITDA              1,977,914           1,702,938   (274,976)         -14%
 (*) In the process of being audited

 

The Company intends to announce its half-year results by 30 September 2024.

The Directors of Substrate AI accept responsibility for this announcement.

This announcement may contain "forward-looking" statements and information
relating to the Company. These statements are based on the beliefs of Company
management, as well as assumptions made by and information currently available
to Company management. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except as
required by law.

 

 Substrate AI
 Lorenzo Serratosa                     info@substrate.ai (mailto:info@substrate.ai)

 Chairman
 First Sentinel Corporate Finance

 Corporate Advisors
 Brian Stockbridge                     +44 (0) 7858 888 007

 

About Substrate AI: Substrate AI is an artificial intelligence company based
in Spain that creates, buys and scales companies around AI in diverse sectors
such as fintech, agritech, energy, human resources, or health. All of them
sell products and services built on the bio-inspired reinforced learning
technology developed and patented by Substrate AI.

 

 

 

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