Nexam Chemical Holding AB (publ). Interim Financial Statements for Quarter 2, April–June 2014
08/21/2014
The Quarter at a Glance
Operations:
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Ongoing major customer projects are progressing.
Products sent to several PET and PE users in Europe for evaluation.
Project commenced with a European special nylon manufacturer.
Two confidentiality agreements entered into and projects jointly commenced, with an elastomer manufacturer and with a European defence industry supplier.
Another confidentiality agreement has been entered into with a nylon producer.
The HICTAC Clean Sky Project has come along well. Another potential customer in addition to Rolls-Royce is expressing great interest in testing the material. New results indicate that several new application areas will be opened up.
Sales of NEXIMID 200 (EPA) to a new Japanese customer that has commenced commercialisation of materials for the electronics industry.
Nexam Chemical’s patent application for the unique molecule PETA has been granted in the US.
Nexam Chemical introduces a new product: NEXIMID® MHT-R a new resin mainly intended for use in the aerospace industry, but also in the industrial and transport sector.
Financial & legal:
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Net sales for the period totalled SEK 385 (299) thousand. Profit/loss before tax for the period came in at SEK –9,099 (–5,571) thousand.
Total assets at the end of the period amounted to SEK 102,449 (66,776) thousand, with cash and cash equivalents accounting for SEK 81,283 (46,457) thousand.
The net cash flow for the period was SEK –10,649 (–9,541) thousand.
Key Events after the end of the period
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IRPC and Nexam Chemical have entered into a framework cooperation agreement with respect to modified polyolefines, such as PE and PP. The agreement formalises frameworks for product development and commercialisation.
Positive response from Eurostars concerning Nexam Chemical’s rPET project – just over SEK 3.4 million in funding grants for Nexam Chemical. The project’s objective is to upgrade recycled PET with heat-activated crosslinkers and commercialise the use of upgraded PET material.
The Japan Patent Office has announced that it will grant Nexam Chemical’s patent application for nylon resin containing MEPA.
New lease at Ideon Delta in Lund entered into with Wihlborgs, which means more space for administration and the head office.
Lund, 21 August 2014Board 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