Smart Eye Expands its Credit Facility
Smart Eye has secured a SEK 150 million credit facility through an agreement with an independent credit market actor group. This increases the company's unused credit limit from SEK 82 million to SEK 232 million. The facility aims to create financial buffers against potential negative impacts on new car sales and support Smart Eye's expansion plans, including product development and potential acquisitions.
CEO Martin Krantz explained that this proactive measure addresses the risk of continued lower-than-expected global new car sales affecting licensing revenue growth. Despite this, Smart Eye remains optimistic about its licensing revenues' development, supported by multiple car models and manufacturers. The ADDW legislation, effective mid-2024, requires adaptation of all European car models by 2026, which is expected to benefit the company. This increased credit limit complements Smart Eye's focus on cost control, providing additional financial security.
Smart Eye ha ottenuto un finanziamento di 150 milioni di SEK attraverso un accordo con un gruppo indipendente di attori del mercato creditizio. Questo aumenta il limite di credito inutilizzato dell'azienda da 82 milioni di SEK a 232 milioni di SEK. Il finanziamento ha l'obiettivo di creare margini finanziari contro potenziali impatti negativi sulle vendite di auto nuove e supportare i piani di espansione di Smart Eye, inclusi lo sviluppo dei prodotti e possibili acquisizioni.
Il CEO Martin Krantz ha spiegato che questa misura proattiva affronta il rischio di vendite globali di auto nuove inferiori alle attese che potrebbero influenzare la crescita dei ricavi da licenza. Nonostante ciò, Smart Eye rimane ottimista riguardo allo sviluppo dei propri ricavi da licenza, sostenuto da diversi modelli di auto e produttori. La legislazione ADDW, in vigore da metà 2024, richiede l'adattamento di tutti i modelli di auto europei entro il 2026, il che dovrebbe avvantaggiare l'azienda. Questo aumento del limite di credito si inserisce nell'attenzione di Smart Eye per il controllo dei costi, fornendo ulteriore sicurezza finanziaria.
Smart Eye ha conseguido una facilidad de crédito de 150 millones de SEK mediante un acuerdo con un grupo independiente de actores del mercado crediticio. Esto incrementa el límite de crédito no utilizado de la compañía de 82 millones de SEK a 232 millones de SEK. La facilidad tiene como objetivo crear reservas financieras contra posibles impactos negativos en las ventas de automóviles nuevos y apoyar los planes de expansión de Smart Eye, incluidos el desarrollo de productos y posibles adquisiciones.
El CEO Martin Krantz explicó que esta medida proactiva aborda el riesgo de que las ventas globales de automóviles nuevos continúen por debajo de las expectativas, afectando el crecimiento de los ingresos por licencias. A pesar de esto, Smart Eye sigue siendo optimista sobre el desarrollo de sus ingresos por licencias, respaldado por múltiples modelos de automóviles y fabricantes. La legislación ADDW, que entrará en vigor a mediados de 2024, requiere la adaptación de todos los modelos de automóviles europeos para 2026, lo que se espera beneficia a la empresa. Este aumento en el límite de crédito complementa el enfoque de Smart Eye en el control de costos, proporcionando una seguridad financiera adicional.
스마트 아이는 독립적인 신용 시장 참여자 그룹과의 협약을 통해 1억 5천만 SEK의 신용 시설을 확보했습니다. 이를 통해 회사의 미사용 신용 한도가 8200만 SEK에서 2억 3200만 SEK로 증가합니다. 이 시설은 새로운 자동차 판매에 대한 잠재적인 부정적인 영향을 대비하여 재정적 버퍼를 생성하고, 스마트 아이의 제품 개발 및 잠재적 인수 등 확장 계획을 지원하는 것을 목표로 하고 있습니다.
CEO 마틴 크란츠는 이러한 선제적 조치가 기대 이하의 전 세계 신차 판매가 라이센스 수익 성장에 영향을 미칠 위험을 해결한다고 설명했습니다. 그럼에도 불구하고 스마트 아이는 여러 자동차 모델과 제조업체의 지원을 받아 라이센스 수익 성장에 대해 낙관적입니다. ADDW 법안은 2024년 중반부터 시행되며, 2026년까지 모든 유럽 자동차 모델의 적응을 요구하고 있어 회사에 유리할 것으로 예상됩니다. 이 증가된 신용 한도는 스마트 아이가 비용 통제에 집중하는 것을 보완하며, 추가적인 재정적 보안을 제공합니다.
Smart Eye a sécurisé une facilité de crédit de 150 millions de SEK grâce à un accord avec un groupe indépendant d'acteurs du marché du crédit. Cela augmente la limite de crédit non utilisée de l'entreprise de 82 millions de SEK à 232 millions de SEK. La facilité vise à créer des buffers financiers contre les impacts négatifs potentiels sur les ventes de voitures neuves et à soutenir les projets d'expansion de Smart Eye, y compris le développement de produits et de potentielles acquisitions.
Le PDG Martin Krantz a expliqué que cette mesure proactive répond au risque de ventes de voitures neuves mondiales inférieures aux attentes, ce qui pourrait affecter la croissance des revenus de licences. Malgré cela, Smart Eye reste optimiste quant au développement de ses revenus de licences, soutenu par plusieurs modèles de voitures et fabricants. La législation ADDW, qui entrera en vigueur à mi-2024, exige l'adaptation de tous les modèles de voitures européens d'ici 2026, ce qui devrait bénéficier à l'entreprise. Cette augmentation de la limite de crédit complète l'attention de Smart Eye portée au contrôle des coûts, offrant une sécurité financière supplémentaire.
Smart Eye hat eine Kreditfazilität in Höhe von 150 Millionen SEK durch eine Vereinbarung mit einer unabhängigen Gruppe von Kreditmarktbeteiligten gesichert. Dies erhöht die ungenutzte Kreditlinie des Unternehmens von 82 Millionen SEK auf 232 Millionen SEK. Die Fazilität soll finanzielle Puffer gegen potenzielle negative Auswirkungen auf die Neuwagenverkäufe schaffen und die Expansionspläne von Smart Eye unterstützen, einschließlich Produktentwicklung und möglicher Akquisitionen.
CEO Martin Krantz erklärte, dass diese proaktive Maßnahme das Risiko angeht, dass weltweit niedrigere als erwartete Neuwagenverkäufe das Wachstum der Lizenzgebühren beeinträchtigen könnten. Dennoch bleibt Smart Eye optimistisch hinsichtlich der Entwicklung seiner Lizenzgebühren, unterstützt durch mehrere Automodelle und Hersteller. Die ADDW-Gesetzgebung, die Mitte 2024 in Kraft tritt, erfordert die Anpassung aller europäischen Automodelle bis 2026, was dem Unternehmen zugutekommen sollte. Diese Erhöhung des Kreditlimits ergänzt den Fokus von Smart Eye auf Kostenkontrolle und bietet zusätzliche finanzielle Sicherheit.
- Secured SEK 150 million credit facility
- Increased unused credit limit from SEK 82 million to SEK 232 million
- ADDW legislation requires adaptation of all European car models by 2026, potentially benefiting Smart Eye
- Global new car sales not meeting expected levels
- Potential continued impact on licensing revenue growth rate
GÖTEBORG, SWEDEN / ACCESSWIRE / October 7, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has entered into an agreement on market terms with an independent credit market actor group, enabling the company to secure a total credit facility of SEK 150 million.
With this credit facility, Smart Eye increases its unused credit limit from SEK 82 million to SEK 232 million.
The credit facility has been arranged with the purpose of creating financial buffers, should the economic climate continue to negatively impact new car sales. Additionally, it ensures that Smart Eye can proceed with its expansion plans, including further development of new products and potential acquisitions.
Martin Krantz, CEO, states: "We have proactively decided to increase our credit limits as global new car sales are currently not meeting the expected levels. We must acknowledge the risk that this may continue to affect the growth rate of our licensing revenues. We remain optimistic about the development of Smart Eye's licensing revenues in both the short and long term, benefiting from multiple car models and several manufacturers. The legislation (ADDW) that came into effect in mid-2024 requires customers to adapt all European car models by 2026. Increasing the credit limits also provides additional security, complementing our previously communicated focus on cost control."
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
About Smart Eye
Smart Eye is the leading provider of Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. The company is on a mission to bridge the gap between humans and machines for a safe and sustainable future. Supported by Affectiva and iMotions - companies it acquired in 2021 - Smart Eye's multimodal software and hardware solutions provide unparalleled insight into human behavior.
In automotive, Smart Eye's driver monitoring systems and interior sensing solutions improve road safety and the mobility experience. The company's eye tracking technology and iMotions biosensor software platform are also used in behavioral research to enable advanced research in academic and commercial sectors. In media analytics, Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with content, products, and services.
Founded in 1999, Smart Eye is a global company headquartered in Sweden, with customers including NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Polestar, Geely, Harvard University, 26 percent of the Fortune Global 500 companies, and over 1,300 research organizations around the world.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: https://smarteye.se/investors/
Smart Eye is listed on the Nasdaq First North Growth Market. The Company's Certified Adviser is Carnegie Investment Bank AB (publ).
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-07 11:55 CEST.
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Smart Eye expands its credit facility
SOURCE: Smart Eye
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FAQ
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