The development of the income statement and balance have been influenced positively by the sale of intellectual property rights for the Multi Tower Robot to Multi Tower Company IVS, for DKK 7,000,000. This is in line with the company’s optimization of activities. From being a reseller and developer of third-party robots, the company is now primarily developing their own robots in partnership with companies that are being spun-out into new companies for upscaling production and sales activities.
In Blue Ocean Robotics ApS, the result of the year has been increased from DKK 913,149 in 2015 to DKK 2,793,170 in 2016, and the company’s equity has been increased from DKK 1,600,286 in 2015 to 4,393,456 in 2016.
In Blue Ocean Robotics Holding, the result of the year has been increased from DKK -22,574 in 2015 to DKK 762,847 in 2016 and at the same time, the company’s equity has been increased from DKK 6,905,874 in 2015 to 17,812,595 in 2016.
From 2015 to 2016, Blue Ocean Robotics ApS has expanded the staff with nearly 100% with a total number of 45 employees divided between full-time and part-time employees at the headquarters in Odense. In 2016, a larger number of employees are focused on developing robots such as the UV-Disinfection Robot and development platforms such as ROBILE that is used for in-house development of mobile robots. The same is present across the Blue Ocean Robotics Group that makes up nearly 110 employees.
During the financial year, Blue Ocean Robotics Group has built a significant international presence. This is a result of distribution agreements with companies in 20 countries and the establishments of six new international JVF, that now account for 12 countries in total including Denmark:
- Lithuania (As of May 2017 renamed Baltics)
- Hong Kong
- the Netherlands
Furthermore, the Blue Ocean Robotics Group has made a sales agreement of equity in its sister company, Scape Technologies A/S, with a Chinese business partner. Development activities have been converted to joint ownerships in 10 companies:
- Scape Technologies A/S
- NanOrig A/S
- WallMo A/S
- LapTics IVS
- Green Robotics ApS
- FishEye ApS
- Multi Tower Company IVS
- UV-DR Company IVS
- UAB Bendsai
- KUBO Robotics ApS
The management finds it satisfactory that the overall growth within the key areas is on par with the expectations.