MTI publishes year-end report 2023

Financial overview group, full-year 2023

• Revenue amounted to EUR 301 813 (EUR 1 867 663).
• EBITDA was EUR -1 253 090 (EUR -1 319 600).
• The net loss was EUR -1 515 872 (EUR -947 772).
• Total equity at the end of the period was EUR 1 495 503 (EUR 2 162 676).
• Cash and cash equivalents amounted to EUR 706 931 (EUR 707 083).
• The net cash flow for the period was EUR 26 542 (EUR -1 444 175).

Financial overview group, H2 2023

• Revenue during H2 2023 amounted to EUR 196 005 (EUR 835 586).
• EBITDA during H2 2023 was EUR -639 297 (EUR -832 323).
• The net loss for the period was EUR -720 733 (EUR -332 986).
• The net cash flow for the period was EUR -130 794 (EUR -232 959).

Important events during 2023

• CEO Pontus Engström met with the President of Zanzibar, H.E. Dr. Hussein Ali Mwinyi to discuss waste management and job creation.
• MTI's TO1 warrants were exercised, with approx. 48 percent subscribed, raising SEK 1.6 million.
• MTI Investment SE completes the investment of an additional 7.92 percent of FinTech Africa AB.
• MTI invests in state-of-the art rice bran grading joint venture - Tanswed Agro Limited.
• MTI Investment SE enters into a term loan facility agreement of USD 1,500,000.
• MTI Investment s subsidiary Ecohomes chosen for prestigious rehabilitation project of St. Joseph s cathedral in Dar es Salaam, Tanzania.
• MTI Investment provides an interest-bearing cash generating credit facility to Fintech Africa and Mtaji of USD 0.5 million.
• Manvi Mathur was hired as Finance and Operations Manager in MTI Investment SE. She will work on reporting, managing financial and operational systems, processes, administration, and internal controls.
• MTI Investment secures NOPEF funding for solar energy feasibility study in Zanzibar.
• MTI Investment secures NOREC grant funding allowing for four locally hired recruits and three master student recruits.
• MTI Investment carries out a preferential rights issue, successfully raising SEK 7.9 million before issue costs.

Important events in H2

• Noah Amri Mwakanyamale stepped up as the key personnel responsible for business operations of MTI group in Tanzania. He is responsible for business development and sourcing of potential opportunities.
• MTI Investment SE announces strategic partnership aimed at realizing commercial solar energy projects in Kenya.
• MTI investment made an exit from its investment ZanDreams AB, recovering it's initial investment with small percentage of premium.
• Shambani Milk showcased its products in the 2023 Africa Food Systems Forum (AGRF) in Dar es Salaam and the Selous Marathon 2023.
• Tanswed Agro, experienced a huge demand for its rice bran grading service and opened one more operating center.
• CEO Pontus Engstrom meets with Tanzania Finance minister Dr. Mwigulu Nchemba in Stockholm.
• Grand Finale in the Ester-MTI Accelerator saw 10 successful foreign-born female entrepreneurs accelerate their businesses under MTI s leadership.
• MTI Investment SE secures NOREC grant funding for a transformational entrepreneurship project in partnership with Techbridge Invest AS and the University of Agder, allowing for four locally hired recruits and three master student recruits.
• Zanrec participated in world clean up day and collected a total of 1.3 tons of waste in 2 hours in Kendwa.
• MTI Investment carries out a preferential rights issue.

Important events after H2 2023

• MTI Investment increases its interest-bearing cash-generating credit facility to Fintech Africa and Mtaji by USD 150.000, bringing the total to USD 650.000.
• MTI Investment opened a new hub and co-working space in the Nobel Centre in Dar es Salaam, which was officially opened by the Swedish Ambassador Charlotta Ozaki Macias.

Download the report

MTI Year End Report 2023

https://www.mti-investment.com/financial-reports/

Financial calendar

See the financial calendar on MTI Investment's website: www.mti-investment.com/financial-calendar/

This information is information that MTI Investment SE is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out above, at 08:45 CET on 2024-03-28.