CONTINUED STRONG MARKET DEMAND - THE QUARTER AFFECTED BY PRODUCTION DISTURBANCIES
April -
- Revenue 7.2 (7.5) MSEK.
- Production 3.3 MWh.
- Delivered energy storages 220 (136), average size per energy storage 7 (12) kWh.
- Gross profit -84.8 (-39.7) MSEK.
- EBITDA -100.6 (-48.5) MSEK.
- Operating income (EBIT) -118.7 (-63.1) MSEK.
- Net loss -134.7 (-86.0) MSEK.
-
Earnings per share before/after dilution -
4.03 SEK .
January -
- Revenue 12.6 (12.1) MSEK.
- Production 6.5 MWh.
- Delivered energy storages 293 (189), average size per energy storage 10 (13) kWh.
- Gross profit -154.4 (-81.2) MSEK.
- EBITDA -178.6 (-96.9) MSEK.
- Operating income (EBIT) -214.8 (-124.0) MSEK.
- Net loss -249.1 (-154.1) MSEK.
-
Earnings per share before/after dilution -
12.93 SEK .
Significant events during the second quarter
- The company's shares were listed on Nasdaq First North Premier Growth Market on
April 30 . -
During the quarter,
Nilar had production disturbances that significantly affected the quarter's production. After the end of the quarter, the production disturbances have in material respects been solved. Nilar's offering has continued to expand and new integration projects have been initiated to meet a broadened customer base.- Production capacity at the Gävle plant is increasing and four more production lines will be installed during the second half of 2021.
-
The establishment of production in
Estonia is ongoing, and production is planned to commence during the summer of 2022.
Significant events after the end of the period
Erik Oldmark appointed acting CEO, following the resignation of CEOMarcus Wigren .
CEO Review
The global market for energy storage solutions continues to develop rapidly. There is a very high demand for sustainable and environmentally user-friendly batteries. According to BloombergNEF, energy storage projects for transmission and distribution services are expected to grow to a value of
During the second quarter, we continued to expand our production capacity at the plant in Gävle. At present, we have four production lines in operation, and we expect to gradually expand during the autumn so that after the turn of the year we have eight production lines operational. Demand for our solutions continues to be significantly higher than our production capacity.
We continue to work with several development projects to broaden the product portfolio and to strengthen
The second quarter has, as previously communicated, been affected from temporary quality problems in the raw material supply chain and certain components as well as limitations in the possibility of making full use of the production organization due to Covid-19, which has meant that production volumes for 2021 will be lower than previously planned. In addition to lower volumes, we have also had increased costs. The production disturbances that have affected the earnings trend during both the first (the ventilation system in the Gävle plant) and the second quarter are now almost resolved. In parallel with this, work has continued to increase the utilization rate of the existing machine equipment. We therefore estimate that the autumn volumes from our facility in Gävle will approach the previously planned production volumes.
The lower result for the quarter is mainly due to higher costs for materials and increased personnel costs. At the same time, the number of delivered energy storage systems increased by as much as 62 percent to 220. We have delivered all that has been produced and we see that the price level in the market is stable.
During the summer, we also established a subsidiary in
Despite the production disturbances we had during the quarter, our financial targets remain unchanged with the goal of profitable growth. In 2023, the goal is to achieve sales of more than
I would especially like to thank all my colleagues at
Täby
For further information, please contact:
E-mail marcus.wigren@nilar.com
Mobile +46 767 69 50 75
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https://mb.cision.com/Main/13450/3401149/1457358.pdf
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