Increased sales and doubled EBITDA
Fourth quarter at a glance
Significant events during the quarter:
- Sales decreased by 9% compared to the corresponding quarter in 2023, while the gross margin increased from 39% to 44%. Sequentially, revenue increased by 10% compared to the third quarter of 2023.
- EBITDA increased sequentially by 105% compared to the third quarter of 2023.
- The cost savings program is running according to plan and will have full effect during the first quarter of 2024.
- Performance Masterbatch's sales was at the same level as the corresponding quarter of 2023 and Performance Chemical decreased by 17%.
-
Received £100k grant from Innovate
UK to develop new materials for the civil aviation sector.
Financials during the fourth quarter 2023:
- Net sales during quarter amounted to
SEK 50,585,000 (55,706,000). - The gross margin amounted to 44% (39%) during the quarter.
-
The operating profit before depreciation (EBITDA) for the quarter was
SEK 1,562,000
( - 1,393,000). -
In comparison to the beginning of the year, cash and cash equivalents amounted to
SEK 9,056,000 (22,875,000). -
Cash flow from the operating activities during the quarter amounted to SEK - 4,510,000
(- 4,323,000). -
Earnings per share before and after dilution amounted to
SEK -0.04 (-0.03) for the quarter.
Financials during January to
- Net sales for the full year amounted to
SEK 190,227,000 (221,756,000). -
The operating profit before depreciation (EBITDA) for the for the full year amounted to
SEK - 5,856,000 (112,000). -
Cash flow from the operating activities for the full year amounted to SEK - 352,000
( - 11,100,000). -
In comparison to the beginning of the year, cash and cash equivalents amounted to
SEK 9,056,000 (22,875,000). -
Earnings per share before dilution amounted for the full year to
SEK -0.28 (-0.15) SEK and after dilution toSEK -0.28 (-0.15). - The Board proposes no dividend for the year 2023.
Lomma
The Board of Directors
These financial statements haven't been reviewed by the Company's auditor.
Presentation:
The presentation will be held in English via the following link: https://youtube.com/live/CSZTReaXN1U
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: Ronnie Törnqvist, VD, +46 (0)706-25 41 85, ronnie.tornqvist@nexamchemical.com
Certified Adviser:
This information is information that
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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 www.nexamchemical.com. The company's Certified Adviser is
https://news.cision.com/nexam-chemical/r/nexam-chemical-holding-ab--publ--year-end-report-1-january---31-december-2023,c3918178
https://mb.cision.com/Main/6364/3918178/2571504.pdf
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