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Nexam Chemical Holding AB (publ). Interim Financial Statements for Quarter 3, July–September 2014

2014-11-10

The quarter at a glance

Operations:

  • A Japanese customer has commenced commercialization of a material for manufacturing film based on Nexam Chemical's crosslinkers.
  • Nexam Chemical has received a positive response from Eurostar concerning the rPET project and will receive over SEK 3.4 million in funding grants.
  • IRPC and Nexam Chemical have entered into a framework cooperation agreement regarding polyolefins.
  • Nexam Chemical's patent application for nylon resin with MEPA has been granted in Japan. 
  • Nexam products have been delivered to several customers whose projects have been launched during the quarter.
  • New confidentiality agreements have been entered into with European companies.
  • Information on postponed implementation of incentive programme for 2014–2017.

Financial & legal:

  • Net sales for the period totalled SEK 455 thousand (SEK 337 thousand). Profit/loss before tax for the period came in at SEK -7,877 thousand (SEK -6,323 thousand).
  • Total assets at the end of the period amounted to SEK 92,771 thousand (SEK 59,600 thousand), with cash and cash equivalents accounting for SEK 71,388 thousand (SEK 39,640 thousand).
  • The net cash flow for the period was SEK -9,891 thousand (SEK -6,829 thousand).

Key events after the end of the period

  • Nexam is strengthening its organization for intensified commercialization and the Board of Directors has appointed a new CEO effective 1 January 2015.
  • Nexam Chemical launches NEXIMID® MHT-R – an easy to process polyimide resin for high-temperature applications. This resin is mainly intended for manufacturing composite parts for the aerospace industry. Otherareas could also be relevant where metal parts exposed to high temperatures can be replaced. For example, this could be applied in the machining industry and the transport sector.
  • Nexam enters into a non-disclosure agreement with a European pipe manufacturer for evaluation of NEXAMITE products in extruded products made out of polyethylene and polypropylene.
  • The patent office in Taiwan informed Nexam Chemical that it will grant the Company's patent application for PETA.

Lund, 10 November 2014
Board of Directors

These financial statements have not been audited by the Company's auditor.

Note: This report has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version. Read the PDF for the complete report

For more information, please contact:
Lennart Holm, Chairman of the Board: +46 (0)706 30 8562
Per Palmqvist Morin, CEO, +46 (0)706 55 55 82

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