5 Q&A With Magnasense (former AegirBio) CFO Christel Dahlberg

You have been CFO since 2024, and been with the company since last year, how is it working
at Magnasense?

I started as a consultant in April 2023 and transitioned to an employee last autumn. My extensive experience as a consultant across various industries has been immensely fulfilling, perfectly aligning with my dynamic nature. Moving from consulting to a permanent role was a significant decision, but my passion for this company made it clear. I saw the potential to make a meaningful impact and was inspired by the opportunity to collaborate with Marco Witteveen (CEO) and Vasiliki Fragkou (COO). The company's promising future also played a crucial role in my decision, and I am thrilled to be part of this exciting journey.

 

What were your main goals when you joined the company?

As a consultant, my primary task was to streamline and organize company structures. My first objective was to review existing routines, procedures, and strategies. Over the years, the company had some CFOs, each introducing new routines, which created a variety of approaches among subsidiary accountants. To streamline operations, I concentrated on aligning the accountants, enhancing communication, and establishing clear guidelines for reporting, accounting standards, and deadlines. This approach has created a more serene workplace and fostered a dedicated finance team, resulting in faster reporting times and enhanced report quality. Open discussions and improved communication have been key to this success.

Additionally, I reviewed cost allocations, transaction paths, internal controls, expenses, and cash flow. My overarching goal was, and continues to be, achieving comprehensive financial control. Addressing the company's history of limited transparency remains a top priority, as it is crucial for our progress.

Ultimately, my main objective is to expedite interim reporting. The sooner we can provide the market with our financial status, the better. I also focus on clearly explaining the numbers and the strategic path forward in our reports.

 

You’ve navigated through quarterly reports, annual reports, fund raising etc…how do you approach these key events?

We have recently managed the Q4 report, annual audit, annual report, Q1 report, fundraising efforts, strategy development, cost control, and daily operations. It has been a very busy period. The key to navigating these times is to take one step at a time and focus on what is most important at each moment. Deadlines help prioritize tasks and maintain focus. As an experienced finance professional, I am accustomed to these hectic periods, particularly in the spring with all the reporting and book closings. While it can be busy, I can always rely on the support of the management team as we have a good company culture in place.

 

What is your key focus as Magnasense scales up its business?

We focus on internal control by establishing routines and structures that will support the company as it scales up, preparing for future growth. Streamlining operations and creating efficient workflows
are also key priorities. We develop clear strategies for both the company and the finance department, continually assessing and improving our existing procedures.

Another primary focus is reducing the time it takes to publish our reports, enhancing transparency whenever possible.

 

What is your view on how Magnasense works with IR?

We have a clear vision and plan for our investor relations. We have partnered with Cord Communications in Sweden, who support us with planning, and determining what and when to publish. This collaboration enhances our efforts to increase transparency as we scale up.

 

"The company’s promising future
also played a crucial role in my decision and I am thrilled to be part of this exciting journey."

Christel Dahlberg, CFO of Magnasense AB