Substrate AI-Class B - Trading Update
Announcement provided by
Substrate Artificial Inteligence S.A. Class B · SAI.B28/02/2024 07:30
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.
28 February 2024
SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the "Company")
TRADING UPDATE FOR THE PERIOD ENDED 31 DECEMBER 2023
Substrate AI (AQUIS: SAI/SAI.B) announces that its total revenue has grown by c.181% in 2023, and is expected to surpass
With regard to EBITDA for 2023, the Company expects to report negative EBITDA in the amount of €4 million. This negative EBITDA includes the expenses derived from the investments made in the development of AI products, as well as the costs associated with the listing of classes A and B shares into the Access segment of the AQSE Growth Market, and with the acquisitions of companies, specifically four in the areas of health, Agritech, human resources and software development.
In this sense, the expected revenue and EBITDA are as follows:
In euros |
Dec-22 |
Dec-23 (*) |
Variation (€) |
Growth (%) |
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Total Revenue |
4.758.996 |
13.382.973 |
8.623.977 |
181% |
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EBITDA |
(1.991.877) |
(4.133.100) |
(2.141.223) |
-107% |
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(*) In the process of being audited
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In euros |
Forecasts 23 |
Dec-23 (*) |
Variation (€) |
Growth (%) |
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Total Revenue |
10.500.000 |
13.382.973 |
2.882.973 |
27% |
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EBITDA |
(3.027.311) |
(4.133.100) |
(1.105.789) |
-37% |
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(*) In the process of being audited
The Group expects to announce its audited results for FY23 on 30 April 2024.
Substrate AI will present its strategic plan for the coming years during its Investor Day to be held in April, both in
The Directors of Substrate AI accept responsibility for this announcement.
Substrate AI |
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Lorenzo Serratosa Chairman |
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First Sentinel Corporate Finance Corporate Advisors |
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Brian Stockbridge
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+44 (0) 7858 888 007
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About Substrate AI: Substrate AI is an artificial intelligence company based in
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.
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