Nexam Chemical Holding AB (publ) Interim Financial Report 1 January – 30 September 2016
11/08/2016
Progress within PET-foam
Third quarter at a glance
Operational:
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Scale-up of NEXAMITE® at contract manufacturer. Multiplied production capacity reduces manufacturing cost.
Financials:
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Net sales for the third quarter totaled SEK 1,113,000 (4,197,000*). *Including sales of SEK 2,471,000 regarding products outside the company’s strategic focus.
The operating loss for the third quarter SEK –5,785,000 (-2,625,000).
In comparison to the beginning of the year, cash and cash equivalents amounted to SEK 143,350,000 (36,305,000).
Cash flow from operating activities was SEK –3,299,000 (-4,937,000).
Key events after the end of the period
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Supply agreement signed with Diab regarding high concentrated masterbatch for production of PET-foam.
At an Extraordinary General Meeting on October 28 it was resolved, in accordance with the Boards proposal, to buy all outstanding warrants in the subsidiary Nexam Chemical AB. The total purchase price amounts to approximately SEK 4.7 million.
Lund 8 November, 2016
The Board of Directors
These financial statements have been reviewed 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:
Anders Spetz, CEO, +46-703 47 97 00, anders.spetz@nexamchemical.com
This information is information that Nexam Chemical Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on November 8, 2016.
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About Nexam Chemical
Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life. The improvements in properties that can be achieved by using Nexam Chemical’s technology make it possible to replace metals and other heavier or more expensive materials with plastics in a number of applications. In applications where plastic is already used, Nexam Chemicals products can improve the manufacturing process, reducing material use and enable more environmental friendly alternatives. Example of commercial applications: pipe manufacturing, foam production and high-performance plastics. More information about the business will be found on http://www.nexamchemical.com. The company´s Certified Adviser is FNCA Sweden AB.