SMART EYE AKTIEBOLAG AK - SMTEF STOCK NEWS

Smart Eye integrates AIS driver monitoring system with Geotab's fleet management platform, offering enhanced driver safety and performance. AIS analyzes driver's head movements, eye gaze, and facial expressions in real-time. Geotab's Marketplace provides customers with choice and optimization tools. For more information, visit https://smarteye.se/solutions/automotive/fleet-and-aftermarket/

Smart Eye reports high organic growth and increasing license revenues. Net sales for April-June 2023 increased by 15% compared to the previous year, with organic growth for the total group at 25%. EBITDA improved due to increased sales and cost reduction program. Smart Eye signed a breakthrough deal with Linde for AIS driver monitoring system for fleets. Automotive business area is growing with 73% compared to last year. Research side of Smart Eye had profitable growth with organic growth at 14%. CEO expects profitability mid next year as more cars start to enter production.

Smart Eye has announced the appointment of Mats Benjaminsson as the new Chief Financial Officer (CFO), effective October 1, 2023. Benjaminsson previously served as interim CFO and has a wealth of experience spanning over 30 years, including positions at major companies like Telia and SKF Sverige.

The company anticipates that his leadership will enhance its financial operations as it aims for continued growth, particularly in the Automotive and Behavioral Research sectors. CEO Martin Krantz expressed confidence in Benjaminsson's ability to drive the company forward, emphasizing the positive trajectory currently being pursued.

Smart Eye has announced the resignation of its Chief Financial Officer, Martin Bjuve, effective April 25, 2023. Bjuve held the position since November 2022 and is leaving for a new opportunity. Marina Drazic, the Group Financial Controller, will temporarily assume the CFO responsibilities while a search for a permanent replacement is underway. CEO Martin Krantz commended Bjuve for his contributions and expressed confidence in Drazic's capabilities to manage the company during this transition. The company continues to lead in Human Insight AI, providing advanced technology solutions for automotive safety and behavioral research. Smart Eye, publicly traded since 2016, serves a diverse client base, including major global brands and research institutions.