{"id":472554,"date":"2021-04-07T07:37:46","date_gmt":"2021-04-07T11:37:46","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472554"},"modified":"2021-04-07T07:37:46","modified_gmt":"2021-04-07T11:37:46","slug":"kontrol-technologies-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kontrol-technologies-provides-corporate-update\/","title":{"rendered":"Kontrol Technologies Provides Corporate Update"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n TORONTO, ON<\/span>, April 7, 2021<\/span> \/PRNewswire\/ –\u00a0Kontrol Technologies Corp. <\/b>(CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8)\u00a0(“Kontrol Technologies<\/b>” or “Kontrol<\/b>” or “Company<\/b>“) is pleased to provide a corporate update. <\/p>\n

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\n \"Kontrol
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“We continue to make progress towards our 2021 corporate goals,” said Paul Ghezzi<\/span>, CEO of Kontrol. “We have integrated our previously completed acquisition, New Found Air, added growth in our core business, entered new markets with BioCloud and improved our balance sheet.” \u00a0\u00a0<\/p>\n

\n Outlook
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COVID-19 impacted operations in 2020 by making it difficult to access customer sites for the first six months of the year and the Company experienced a deferral of capital projects. \u00a0In many cases customers have resumed\u00a0 or budgeted those projects for completion in 2021. <\/p>\n

Based on the significant investments made in 2020 across our operating platform, and with current visibility the Company anticipates FY 2021 revenue of approximately $33 million<\/span> to $35 million<\/span> (compared to unaudited revenue of approximately $13 million<\/span> for FY 2020) and FY 2021 Adjusted EBITDA in the range of $3.7 million<\/span> (compared to unaudited Adjusted EBITDA of approximately $2.0 million<\/span> for FY 2020). <\/p>\n

The anticipated revenue mix is 70% from the Company’s core business and 30% from BioCloud.<\/p>\n

Adjusted EBITDA is a non-IRFS financial measure. The Company defines Adjusted EBITDA as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, and acquisition related expenses.<\/p>\n

Please see Forward Looking Information Disclaimer.<\/p>\n

\n Smart Buildings<\/b>\n <\/p>\n

Over the past year the global pandemic has changed the way in which commercial, multi-residential and industrial buildings are managed and maintained. More than ever, there is an emphasis on how to deploy technology to reduce operating costs, optimize energy savings and increase automation to reduce labor costs while advancing sustainability.<\/p>\n

The ability to efficiently aggregate data in real-time and harness that data to drive measurable improvements in energy, emissions and air quality is what Kontrol offers its customers. How we deliver that is through building automation, a recurring service platform and software as a service.<\/p>\n

\n BioCloud<\/b>\n <\/p>\n

To date the Company has invested approximately $4 million<\/span> CAD in the development and commercialization of BioCloud with approximately 50% of that investment funding provided by Government sources.\u00a0 \u00a0<\/p>\n

The Company’s progress to date includes (not in any order):<\/p>\n