11 April
2024
SUBSTRATE
ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the
"Company")
STRATEGY UPDATE
AND
FORECASTS
2024
Substrate AI (AQUIS: SAI/SAI.B)
announces that it will hold an investor day on 11 April 2024, an
event where the Company will share with shareholders and potential
investors the application of its technology, business strategies
and forecasts for the Company and its subsidiaries. The event will
take place at 6:30 pm at The Brewery, EC1Y 4SD.
As part of its business strategy, by
2028 the Company intends to bring three of its subsidiaries to
public markets, Subgen AI Ltd, Cuarta
dimensión medica SL and Fleebe AI
SL.
Subgen AI Ltd is a company that develops
artificial intelligence ("AI") technology in the field of generative AI and
reinforced learning for
companies and institutions. This company
applies LLM models with a suite of
solutions for complex tasks.
Cuarta Dimensión Médica SL is a
company that applies AI in the health industry, specifically
in diagnostic imaging.
Fleebe AI SL is a company that
applies AI in the human resources sector, focusing on
talent acquisition and
retention.
Furthermore, the Company
announces that the Company's Board of
Directors, at its meeting held on 8 April 2024, approved the
following projections for the 2024 financial year:
Revenue
An increase in consolidated turnover
is projected based exclusively on organic growth.
Expense
Personnel expenditure increases
proportionately much less than revenues, increasing the
revenue-per-employee ratio.
On the other hand, the rest of
operating expenses are reduced compared to 2023 due to the lower investments
required.
EBITDA
In terms of EBITDA, it is positive
for the first time since the IPO on the BME
Growth Market.
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
DISCLAIMER
This announcement may contain
forward-looking statements. The forward-looking statements
include, but are not limited to, statements regarding the
Company's, or the Directors' expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statement that refers to projections, forecasts or other
characterisations of future events or circumstances, including any
underlying assumptions, is a forward-looking statement. The words
"anticipate", "believe", "continue", "could", "estimate", "expect",
"intend", "may", "might", "plan", "possible", "potential",
"predict", "project", "seek", "should", "would" and similar
expressions, or in each case their negatives, may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
Forward-looking statements include
all matters that are not historical facts. Forward-looking
statements are based on the current expectations and assumptions
regarding the Company, the business, the economy and other future
conditions. Because forward-looking statements relate to the
future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Forward-looking statements are not guarantees
of future performance and the Company's actual financial condition,
actual results of operations and financial performance, and the
development of the industries in which it operates or will operate,
may differ materially from those made in or suggested by the
forward-looking statements contained in this announcement. In
addition, even if the Company's financial condition, results of
operations and the development of the industries in which it
operates or will operate, are consistent with the forward-looking
statements contained in this announcement, those results or
developments may not be indicative of financial condition, results
of operations or developments in subsequent periods. Important
factors that could cause actual results to differ materially from
those in the forward-looking statements include regional, national
or global, political, economic, social, business, technological,
competitive, market and regulatory conditions.
Any forward-looking statement
contained in this announcement applies only as of the date of this
announcement and is expressly qualified in its entirety by these
cautionary statements. Factors or events that could cause the
Company's actual results to differ may emerge from time to time,
and it is not possible for the Company to predict all of them. The
Company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in
its expectations or any change in events, conditions or
circumstances on which any forward-looking statement contained in
this announcement is based, unless required to do so by applicable
law, the Aquis Rules, the Disclosure Guidance and Transparency Rules of the FCA or
the UK Market Abuse Regulation.
The Directors of the Company accept
responsibility for the contents of the announcement.
For further information, please
contact:
Substrate AI
|
|
Lorenzo Serratosa
Chairman
|
info@substrate.ai
|
First Sentinel Corporate
Finance
Corporate Advisors
|
|
Brian Stockbridge
|
+44 (0) 7858 888 007
|
About Substrate
AI: Substrate AI is an artificial
intelligence company based in Spain that creates, buys and scales
companies around AI in diverse sectors such as fintech, agritech,
energy, human resources, or health. All of them sell products and
services built on the bio-inspired reinforced learning technology
developed and patented by Substrate AI.