MTI publishes year-end report 2022

Financial overview group, full-year 2022

• Revenue amounted to EUR 1 867 663 (EUR 1 450 069).
• EBITDA was EUR -1 319 600 (EUR -842 438).
• Ecohomes EBITDA deteriorated significantly due to excess cost in completed projects.
• The net loss was EUR -947 772 (EUR -1 171 241).
• Total equity at the end of the period was EUR 2 162 676 (EUR 2 543 639).
• Cash and cash equivalents amounted to EUR 707 083 (EUR 2 320 218).
• The net cash flow for the period was EUR -1 444 175 (EUR 1 701 247).

Financial overview group, H2 2022

• Consolidated group revenue has increased during H2 2022 to EUR 835 586 (EUR 776 051).
• EBITDA during H2 2022 was EUR -832 323 (EUR -696 454).
• The net loss for the period was EUR -332 986 (EUR -848 823).
• The net cash flow for the period was EUR -232 959 (EUR 1 790 838).

Important events during 2022

• Martin Rex Empacher joins MTI Investment's subsidiary Zanrec AB as new member of the Board, and subsequently as a member of the MTI advisory board.
• MTI subsidiary Ecohomes was awarded several bank branches to be built for clients such as CRDB and Stanbic Bank, including the construction of a new branch in Lubumbashi in Democratic Republic of Congo.
• MTI invested USD 389.000 into Ecohomes and increased ownership to 77 percent.
• Torbjörn Jacobsson appointed as new member of the board in Ecohomes.
• Magdalena Johansson and Bengt Svelander enrolled as new members of the Board in MTI Investment.
• Zanrec faced an unexpected area change in the North A district on Zanzibar.
• Improved local presence and control through the hiring of Parmena Mkuu as Group Audit and Finance Manager, based in Dar es Salaam.
• The divestment of 12 percent ownership in Zanrec gave rise to a EUR 522 000 gain to our group results

Important events in H2

• MTI Investment invests SEK 1.1 million (EUR 103.000) in fast growing, sustainable animal feed company Chanzi.
• MTI Investment SE completes the acquisition of 56 percent (subsequently 49 percent of the shares in Techbridge Invest AS).
• MTI sells down 12 percent equity in Zanrec AB to Claus Jørgensen for SEK 2 million.
• MTI increased its ownership in the fast-growing FinTech Africa to 5.23% in a cash equity issue, investing SEK 500.000 (TEUR 45) to fund the company´s expansion.
• Zanrec's plastic baling business became operational during H2, with an aim to bale and remove from the island at least 50 tonne of plastic per month.
• MTI's subsidiary Atsoko International AB completed the divestment of its ownership in Atsoko Tanzania Limited (Atsoko) through a management buy-out. Atsoko International AB was then closed down.
• MTI announces that Mr. Harry Tuluhungwa is the new CEO of Ecohomes Company Limited, replacing former CEO and cofounder Eric Chonjo.
• MTI launches a new accelerator program with Ester Foundation, targeting female immigrant entrepreneurs.

Important events after 2022

• MTI Investment and Hotel Online launch a booking portal for sustainable tourism to Zanzibar.
• MTI Investment met with the President of Zanzibar, H.E. Dr. Hussein Ali Mwinyi to discuss waste management and job creation.
• MTI Investment signs letter of intent with Mayai Ocean Resort to create a hotel management company and to invest in a new resort.
• MTI signs term sheet to invest in prime property to be built in central Dar es Salaam.
• Warrants of series TO1 were 48 percent subscribed and bring in SEK 1.62 million
• MTI signs term sheet to invest in rice bran grading business.
• MTI signs letter of intent to acquire an additional 7.9 percent in fast growing Fintech Africa worth SEK 1.2 million.

Download the report
MTI Year End Report 2022

https://www.mti-investment.com/wp-content/uploads/2023/03/Year-End-Report-2022-MTI-Investment-SE31032023.pdf

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 08:30 CET on 2023-03-31.

For additional information
Pontus Engström, CEO, MTI Investment SE
[email protected]
+46 70 716 55 38

The following documents can be retrieved from beQuoted
PR-Year-End-Report-2022-MTI-Investment-SE.pdf

About MTI Investment SE
MTI Investment SE is a Nordic investment and venture-building company, founded in 2014 by a team with extensive experience in emerging markets to invest in East African small and medium-sized enterprises ("SMEs") with high value-adding potential. The Company is active in the expansive East African market, and by being a long-term and active owner, MTI Investment helps its portfolio companies grow faster and become more profitable. The Company invests primarily in innovative and scalable companies that have the potential for a significant positive impact on society.

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