Analys av Danske Bank efter bokslutskommuniké 2018

UK SAFER project key driver for new contracts in 2019

Q4 was slightly disappointing in terms of growth and cash drain but we expect this to
swing back in 2019. FY 2018 marked a pickup in growth from 2017. Note that the transition
to a pay-per-use revenue model puts short-term pressure on growth but adds to stability
longer term. In 2019, we expect additional contracts similar to the Finnish one to be signed
outside of Sweden, evidencing the validity of the product and business model.

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