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Summary of the period
" Positive result with a strong contribution from a growing customer base "
- Net turnover for the period amounted to 13 811 (11 956) kSEK, corresponding to an increase in turnover of 16% (-2%). Operating profit/loss amounted to 837 (-723) kSEK.
July to
- No important events occurred during the period.
Important events after the period
I-Tech entered into a product development collaboration with IFF Microbial Control.
Financial Summary
Alla belopp i TSEK | 2021 jul-sep | 2020 jul-sep | 2021 jan-sep | 2020 jan-sep | 2020 jan-dec |
Nettoomsättning | 13 811 | 11 956 | 41 088 | 41 631 | 52 819 |
Rörelseresultat | 837 | -723 | -2 297 | -1 660 | -5 167 |
Rörelseresultat före avskrivningar | 2 815 | 1 269 | 3 636 | 4 318 | 3 600 |
Resultat efter skatt | 925 | -791 | -1 041 | -1 687 | -4 806 |
Rörelsens kassaflöde | 956 | 5 822 | -6 957 | 7 173 | 5 388 |
Eget kapital vid periodens slut | 106 545 | 109 721 | 106 545 | 109 721 | 106 602 |
Likvida medel vid periodens slut | 30 282 | 43 359 | 30 282 | 43 359 | 40 981 |
CEO comments
The third quarter, which is often a challenging quarter, was relatively strong with a positive result on the bottom line. The net result amounted to 0,9 (-0,8) MSEK and net sales amounted to 13.8 (12) MSEK, an improvement of 16% on the corresponding quarter last year.
It is pleasing to show a positive net result and an EBITDA of
During the quarter, almost 35% of our sales came from sources other than our largest customer. In addition to progressively broadening our customer base, we are taking an increasingly active role in generating and sharing important know-how with our customers. Case by case, we are becoming a more integrated partner in their innovation processes. A milestone after the quarter closed was that we were able to announce an extensive collaboration with IFF Microbial Control. This cooperation aims to drive new innovative concepts that can inspire our joint customers to continually develop better and more sustainable antifouling products.
We also further developed our relationship with importers in
Global trends continue to point in a favourable direction. Macro trends and regulations that come into force in 2023 underpin a long-term incentive to choose premium category antifouling products, regardless of the shipowners' business models. For example, the entire shipping industry has begun to indicate a high level of ambition when it comes to responding to the IMO's efficiency index. Furthermore, freight rates are high for several shipping segments, at the same time as oil prices are increasing with shorter payback times of efficiency- enhancing technology as a result. Moreover,
In conclusion, I note that the quarter provided a bottom-line profit, a maintained good gross margin and, again, a large contribution from a growing customer base. Furthermore, we continue to invest and take advantage of our strong cash situation to improve our position when the industry now looks set to begin a major turnaround to measurable improvements in efficiency measures. We want to be part of that!
M: +46 73 910 37 08
E: philip.chaabane@i-tech.se
About
About Selektope®
Selektope® introduces, for the first time, a pharmacological mode of action to combat barnacle settlement. By temporarily stimulating the octopamine receptor, the barnacle larvae's swimming behavior is activated and the organisms are deterred from the hull. These ground-breaking discoveries enable unrivalled power at very low concentrations, yet within the limits of rigorous risk assessments. Selektope® is an organic, non-metal compound with efficacy proven at 0.1% w/w. For more information visit our website www.selektope.com
https://news.cision.com/i-tech/r/i-tech-ab--publ--interim-report-q3-2021,c3435929
https://mb.cision.com/Main/17051/3435929/1484424.pdf
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