TC TECH Sweden () : publishes its Summarized Financial Statements

TC TECH has today published its summarized financial statement report for the period January 1 to December 31, 2020. 

Net sales amounted to 2 (4 358) TSEK in the fourth quarter of 2020. In the same period, net profit/loss totalled -3 182 (-6 007) TSEK. Cash flow from operating activities was -1 487 (-3 991) TSEK in the period from October 1^st to December 31^st 2020. 

Net sales amounted to 107 (14 193) TSEK in the full year of 2020, while net profit/loss totalled -20 763 (-27 640) TSEK. Cash flow from operating activities was -14 940 (-22 181) TSEK in the period from January 1^st to December 31^st 2020. 

Developments in the fourth quarter of 2020

TC TECH Sweden AB (publ) has conducted a directed share issue of 1 540 000 shares based on the authorization granted from the company's annual general meeting on May 14, 2020. The share issue increased the company's share capital with 123 200 SEK, while the company received 10,6 MSEK in cash.

Developments after year-end 2020

TC TECH Sweden AB (publ) announced that the company's board of directors has resolved that the company is to establish a subsidiary in Taiwan. This subsidiary will include market and sales resources, as well as a test and evaluation centre with a production system in a cleanroom environment. The establishment includes permanent on-site placement of personnel.

For further information, please contact:

Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: [phone]
Email: [e-mail]
www.tctech.se

This information was submitted for publication through the agency of the contact person set out above, at 8.00 C.E.T. on February 25th 2021.

About TC TECH

TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material - rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.

 

The TC TECH share is listed on Nasdaq First North Growth Market.

Arctic Securities is the company's Certified Adviser, email: [e-mail], tel: [phone].

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