Nexam Chemical Holding AB (publ) Interim Financial Report – January - March 2015
04/20/2015
The first quarter at a glance
Operations:
Organizational changes have been initiated in order to adapt the business to commercialization and a cost saving program initiated with the goal to reduce our costs with approximately SEK 10 million on an annual basis.
Lars Öhrn has been recruited to the newly created position as CMO, Chief Marketing Officer. A strengthening of the organization and an important step in the commercialization of the Company’s products.
Christian Svensson is appointed CFO, Chief Financial Officer.
The Management and key persons in the company have subscribed for a total of 700,000 warrants in the incentive program.
The Board of Directors decides to postpone the change of trading venue for the Company´s share.
Two new patents have been approved. One in Europe for catalysis of crosslinkers, and one in the USA, for a new process of manufacturing EBPA.
Financial & legal:
Net sales for the first quarter totaled SEK 513,000 (120,000). Profit/loss before tax for the period amounted to SEK -10,520,000 (-7,136,000).
In comparison with the beginning of the year, the total assets at the end of the period amounted to SEK 75,106,000 (84,973,000), with cash and cash equivalents accounting for SEK 51,645,000 (62,543,000).
Cash flow from operating activities for the first quarter was SEK -10,535,000 (-5,044,000).
Lund, 20 April 2015
The Board of Directors
This financial statement have not been audited by the Company’s auditor.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Lennart Holm, Chairman of the Board, +46-706 30 85 62, lennart.holm@nexamchemical.com
Anders Spetz, CEO, +46-703 47 97 00, anders.spetz@nexamchemical.com