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Naava - Reconnecting humanity with nature

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anonymous 6 days ago

Could someone tell me where to find the financial statement of NAAVA? It seems that here many people have access to the financial statement. I would like to have a look before make any decision.

Joel from Invesdor
Invesdor
6 days ago

Hi,

Thank you for the question! You can find the attachments, that also include the financial statements, at the bottom of the pitch page (Company Profile).

Br, Joel

anonymous 6 days ago

Oh, sorry, I ignored that.

Thank you.

anonymous 8 days ago

In FY17 (1.1.2017-31.12.2017) your total turnover was c. 2.8 M€. With same time period personnel expenses were c. 2.4 M€. For whole FY18 personnel expenses seems to be decreasing to c. 1.8M€ according to the expenses for the period 1.1-30.9.2018. 1. What is explaining the proportion of personnel costs for the FY17? 2. Could you identify what is causing this drop in personnel costs between FY17 and FY18? 3. How you are expecting that personnel expenses related to total turnover will develop in future? Thanks

Naava
Naava (Naturvention Oy)
7 days ago

Thanks for the question.

Those figures are the Finnish entity figures (Naturvention Oy), and include the R&D and Global Ops / Business Development costs as well.

Decrease in personnel costs are due to reorganization in spring, focus on building the partner & distribution model instead of expanding with our own sales/service teams, and in general being more focused on the business side than in research & product development. We had several big R&D projects in the past years, which were mainly executed by our own inhouse teams. Almost all of the development projects have been partly funded by Business Finland, ELY and EU.

The development to more scalable business and not having to focus so much on the R&D, can be seen from the personnel costs. In 2017 personnel costs were 86% from the Revenue, in 2018 about 55%, and we expect those to be about 38-40% in 2019. The absolute personnel costs are expected to raise 200-300 k€ in Finland, as we’re hiring for example more sales and manufacturing people, but personnel costs are still significantly lower in relation to the Revenue levels.

Have a great one!

Aki, founder & CEO

anonymous 8 days ago

Can you share some information on your current state of profitability and its progress?

Naava
Naava (Naturvention Oy)
8 days ago

Thanks for the question.

Currently we are in four markets out of which two are cash flow positive (Finland and South Korea).

This spring we changed our expansion strategy from building our own local teams & showrooms to a partner and distributor model in new cities. This has proved fruitful in South Korea where we have been profitable from day 1.

In the US, we’re currently building the partner channel, both in sales & service. That means investment in the market, and for the entire year we’re not profitable there yet. However, November will be most likely our first positive month in the US.

As to our European expansion, we just closed our first reseller in London last week.

There are clear signs that the strategy change is working. Now we’re looking for funding to speed up our expansion to further validate the model. The expansion model is benchmarked from Framery and their success in building hockey stick growth with channel partners.

Yours,

Aki, founder & CEO

Kapteeni Kasvain 14 days ago

In case there is an IPO in the next few year, what will happen to shares purchased now?

Naava
Naava (Naturvention Oy)
12 days ago

In a nutshell, shares become liquid and you are able to trade the shares.

anonymous 18 days ago

I wonder why you have switched from the previous crowdfunding platform (IIRC, Pepins) to this? Normally it would be prudent to present the differences between previous round(s) and the current one. If on the same platform this information would be easily available. Makes it easier to see how shares dilute and so forth. If the case is that an earlier round were selling shares at 5e/share and we are now down to 55c/share, it's not a matter of dilution but a matter of value crashing.

So far I have been ok with Naava's information flow and we even have the marvel installed in our office. So I hope this is just a matter of it being Friday and I'm too tired to understand things.

Naava
Naava (Naturvention Oy)
18 days ago

Hi!

We are looking to strengthen our home markets and the last equity crowdfunding round was done in Sweden. Doing this round in Finland is a pretty natural choice.

There has been some confusion within the "Pepins round investors" on the share price development, which comes from the Pepins Crowdfunding structure. The Pepins crowdfunding investors hold shares on Naturvention Nordic Partners AB (SPV), which then holds the shares on Naava the parent company. That AB owns ~8 % of the parent company (pre-Invesdor round).

You bought shares of that company with a share price of SEK 43, which is not to be confused with the parent company share price.

The share price of the parent company has progressed healthily from the previous round, from 0,452 €/share to 0,55 €/share. This is what counts.

Great to hear that you have been satisfied with our information flow and the products! :)

Aki, founder

anonymous 18 days ago

Thank you, my bad, will read up on both companies once figures are published next time.

slam70 20 days ago

  1. Growing only 13% from Jan to Sept 2018. What is the estimate of 30% growth based on in 2018? Is this realistic still?
  2. Is any region yet profitable?
  3. Very high receivables of 3m, what are these?

anonymous 20 days ago

  1. Estimates group figures vs. P&L of only the parent company in Finland?
  2. Intercompany receivables?

Ps. Recent and actual group figures would be great.

Naava
Naava (Naturvention Oy)
20 days ago

Hi!

Thanks for the message.

  1. Yes, the 2018 estimate is realistic. The revenue is typically seasonal and based on the order-book and the actual physical installations, or in case of distributor operations, delivery schedules. Revenue is reported fully when the installation has been completed.
  2. Yes, commercial operations in two out of four markets have been either break-even or profitable for the past 6 months. The largest investments are in the US, where the market entry & model is still in progress to achieve maturity.
  3. The majority of the receivables are from our own daughter companies in the US and Sweden. We do not have substantial overdue receivables from our customers.

All the best,

Aki, founder & CEO

slam70 20 days ago

Good & clear responses, thanks!

anonymous 21 days ago

After investing, how does the company send the shares ? Will there be a acknowledgement or will a digital copy be sent by mail ?

Joel from Invesdor
Invesdor
21 days ago

Hi!

Thank you for your question. After investing and paying for the shares, each shareholder shall receive a receipt of his/hers payment and after the successful closure of the funding round a certificate of the investment will be sent to each investor. These certificates are typically sent out two to three weeks after the closure of the funding round.

For more information about this please see Invesdor's FAQ: https://home.invesdor.com/en/faq#how-are-my-shares/bonds-stored

Best regards, Joel