CONTRACT FOR SIX HEATPOWER 300 UNITS SIGNED WITH THE WORLD'S LARGEST SHIPYARD – CUSTOMER ENQUIRIES CONTINUE TO INCREASE
During the quarter, the world's largest shipbuilder,
JULY - SEPTEMBER
- Order intake amounted to
SEK 28.5 million (0.7). - Net sales amounted to
SEK 3.9 million (1.2) and were primarily attributable to the delivery of one HeatPower 150 module and aftermarket revenues. - Operating profit/loss amounted to
SEK -31.6 million (-24.0) SEK -7.9 million (-2.0) of non-recurring, non-cash generating items, mainly attributable to write-downs of inventory and increased accounts receivable provisions. - Profit/loss after financial items amounted to
SEK -37.7 million (-23.2) - Earnings per share, before and after dilution, amounted to
SEK -0.40 (-0.24) - Cash flow from operating activities after changes in working capital amounted to
SEK -16.3 million (-18.9).
IMPORTANT EVENTS DURING THE PERIOD
- HD-HHI places an order, worth
EUR 2.5 million , for HeatPower 300 systems for Maersk's new fleet of container vessels. Climeon 's Board of Directors announces its intention to carry out a fully guaranteed rights issue consisting of class B shares and warrants, initially comprising approximatelySEK 100 million . The rights issue is subject to approval at an extraordinary general meeting onOctober 26, 2023 . During the quarter,Climeon ended its credit agreement with theSwedish Export Credit Corporation by payingSEK 16.1 million and thus no longer has any bank loans left. The credit was previously recognized as a short-term liability.
JANUARY - SEPTEMBER
- Order intake amounted to
SEK 41.5 million (3.0) - Net sales amounted to
SEK 5.0 million (4.9) - Order backlog amounted to
SEK 72.2 million (37.1) - Operating profit amounted to
SEK -77.5 million (-75.3), including non-recurring items ofSEK -9.2 (-2.0) million. - Profit/loss after financial items amounted to
SEK -99.7 million (-87.0) - Earnings per share, before and after dilution, amounted to
SEK -1.05 (-1.05) - Cash flow from operating activities after changes in working capital amounted to
SEK -62.4 million (-44.1) - Total cash and cash equivalents amounted to
SEK 23.1 million (139.3).
A word from our CEO:
CLIMEON CONTINUES ITS COMMERCIALIZATION – CONTRACT FOR SIX HEATPOWER 300 UNITS SIGNED WITH THE WORLD'S LARGEST SHIPYARD
The commercialization of
The fact that customers have chosen us in both cases is an acknowledgment of our strategic marketing and sales efforts in combination with the targeted product and development work we have conducted to develop the next generation of HeatPower systems. HeatPower 300 is a more customer and market-adapted, as well as cost-effective, product platform for both our customers and for us. We have designed a unique and competitive product platform based on the experience and skills that
We see the number of customer inquiries continuing to grow. Many inquiries are projects in the initial stages, but we are also engaged in intensive dialogues regarding a several customer projects that are significantly closer to being realized. We have had customers who have conducted sanctioned audits, at our production partner, at our head office and at our development and test facility in Kista.
In parallel, we are continuing our work on production planning and streamlining our supply chain. Trials and tests are underway so that we can quickly develop and adapt the different technical variants of HeatPower 300 that are required from different markets and customers. We also continue to deliver and perform service according to the agreements we have with the customers of our previous product generation, HeatPower 150.
Simultaneously, we must strengthen our long-term financial position. Therefore, we have put forward a proposal for a fully guaranteed rights issue that will be considered at an Extraordinary General Meeting on 26 October. The Rights Issue provides us with approximately
Now our efforts to sign further orders and to deliver in accordance with customer expectations continues!
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