AN EVENTFUL QUARTER WITH SEVERAL OPERATING PROGRESS
The first quarter 2021 was characterized by deliveries and installations. Net sales amounted to
JANUARY - MARCH
Order intake amounted to
SEK 0.0 million (15.4)Net sales amounted to
SEK 15.5 million (14.1)Order backlog amounted to
SEK 662.6 million (728.5)Operating profit/loss amounted to
SEK -38.5 million (-32.2)Profit/loss after financial items amounted to
SEK 12.7 million (-31.5)Profit/loss per share amounted to
SEK 0.23 (-0.64)Cash flow from operating activities after change in working capital amounted to
SEK -57.8 million (-32.9)Total cash and cash equivalents amounted to
SEK 232.6 million (299.2)Climeon is a participant in the EU-funded research project CHEK with the aim of reducing emissions in shippingClimeon has signed a memorandum of understanding withTomoe Engineering with the aim of establishing an industrial sales collaboration inJapan Climeon has been named the winner of theRoyal Swedish Academy of Engineering's competition Smart IndustryClimeon has commissioned the second power plant inIceland , ReykholtClimeon 'sHeat Power modules aboardVirgin Voyages' second vessel, the Valiant Lady, have been approved during sea trialsClimeon 's shareholding inBaseload Capital increased toSEK 113.5 million (45.4) whereofSEK 16.9 million is attributable to the conversion of the convertible loan into shares andSEK 51.2 million to a new issue in which Chevron entered as new shareholder. The increase in value associated with the issue had a positive earnings effect in net financial items corresponding toSEK 0.94 per shareLena Sundquist has been appointed new CEO ofClimeon .Lena Sundquist will take office on1 August 2021 and most recently comes from the role as CEO of Kivra SverigeChristina Bäck has been appointed Head of Sales & Markets at
Climeon Climeon 's CFOChristina Kassberg has requested to leave her position and remains untilSeptember 30, 2021 for handover
IMPORTANT POST-CLOSING EVENTSClimeon has put four moreHeat Power modules into operation at the Flúðir power plant, thus doubling the power plant's capacityClimeon has convened an Annual General Meeting onMay 19, 2021 . Due to the corona pandemic, the meeting will be held by postal ballot, for more information see the company's website, www.climeon.com
AN EVENTFUL QUARTER WITH OPERATIONAL PROGRESS
The CEO comments
Just like 2020, the first quarter of the year offered achievements as well as challenges. We have continued the efficiency work that started in 2020, commissioned several
Revenues for the quarter are in full parity with, and even slightly above, revenues for the first quarter of 2020. This makes this quarter the best, in terms of revenue, in 15 months. Seen over a rolling twelve-month period, we have not been able to move forward as fast as we would have liked. Of course, we are working to make up for this as the conditions normalizes. A more efficient organization, where we both reduce the management team and add new competence, is one such measure.
Interest in green solutions is growing all over the world, not least within the EU, which aims to make a "green restart" after the pandemic. It is also interesting that Chevron joins as a partner in our partner
In geothermal, we commissioned our second installation in
In maritime, we see a growing activity and an increasing interest, where the International Maritime Organization's work to reduce greenhouse gas emissions from international shipping is driving development. During the quarter, we participated in sea trials for
Within industrial, we initiated an interesting sales cooperation with
In practical terms, we continue to produce to be in phase with future deliveries and to be able to support our customers with shortened project timelines. We also continue to develop our technology to create even more efficient solutions with better performance and higher profitability. This is something a company such as
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