|Income statement DKK||2018||2019||2020||2021|
|Profit before tax||(2,121, 413)||80,340||769,545||8,711,346|
|Profit after tax||(1,931,823)||151,232||722,126||6,976,893|
|Cash in bank Ultimo||1,803,714||2,018,347||1,906,211||13,768,188|
|Profit margin %||0%||1%||3%||10%|
During 2021 COBOD tripled revenues to 83.4M DKK in sales and profit before tax increased to 8.7M DKK despite significant growth in employees within R&D and customer service. Cash flow improved as a result of steadfast and effective cash management.
We expect a revenue of 126M DKK sales and 30 printers sold. During 1st half of 2022, three large global companies acquired strategic shareholdings in COBOD. Three regional offices in the USA, Asia and MENA are opening in 2nd half of 2022.
SALES & EMPLOYEE DEVELOPMENT
The COBOD organization grew tremendously since 2018 and consisted of 82 employees (full-time, student workers & interns) at the close of 2021.Many of our full-time employees have been recruited through internships and student helper assignments, creating a tightly knit team of international, engaged and competent people of 25 nationalities. Our R&D organization consists of 18 people, 22% of our organization.