Interim report January – June 2017
Large order of dynamic glass to Atrium Ljungberg’s project Gränbystaden, Uppsala
Second quarter of 2017
- ChromoGenics received a large order to deliver approximately 600 m2 of dynamic glass to Atrium Ljungberg’s project Gränbystaden, Uppsala.
- The ConverLight™ product is generating considerable interest among real estate owners, architects energy consultants and other players in the window and façade glass market.
- Net sales for the period amounted to SEK 1.7 (1.8) million. ConverLight™ is still in its initial phase of sales and production.
- Net income for the period amounted to SEK -10.5 (-15.3) million, which corresponds to earnings per share of SEK -0.46 (-2.82).
- The new share issue that was completed in February – March was fully registered with the Swedish Companies Registration Office on April 7, 2017.
- At the annual general meeting, ChromoGenics strengthened the Board with Mari Broman and Peter Gustafson, both with background within the real estate and finance industry.
| 2017 | 2016 | 2017 | 2016 | 2016 | |
| SEK million | Apr-Jun | Apr-Jun | Jan-Jun | Jan-Jun | Jan-Dec |
| Net sales | 1,7 | 1,8 | 2,8 | 1,8 | 3,0 |
| EBITDA | -9,0 | -13,7 | -20,7 | -24,4 | -42,2 |
| Net income | -10,5 | -15,3 | -23,8 | -27,6 | -49,5 |
| EPS after dilution, SEK | -0,46 | -2,82 | -1,39 | -5,34 | -7,6 |
| Cash and cash equivalents at end of the period | 67,0 | 2,5 | 67,0 | 2,5 | 8,5 |
“Intensive period with increased production to ChromoGenics’ largest order to date and a faster tempo in the market preparation!”
Comments from the CEO
It has been a hectic period with production and delivery of dynamic glass to Fabege’s project Grand Central Sundbyberg. A number of our earlier delivered projects were taken into operation, including Balderskolan in Skellefteå Municipality and ICEHOTEL 365 in Jukkasjärvi.
During the quarter, the largest order to date was also signed. ChromoGenics will deliver approximately 600m2 of ConverLight™ dynamic glass to Atrium Ljungberg’s project Gränbystaden, Uppsala. Atrium Ljungberg has placed both the environment and corporate responsibility high on its agenda, and selected therefore ConverLight™ because of its effective solar control solution.
In June, the first Dynamic Glass Academy was held at our premises in Uppsala. An event for spreading knowledge and acceptance for the company's dynamic glass at customers and stakeholders about energy efficiency and indoor comfort in building focusing on sustainability. At the end of the same month, ChromoGenics participated in Glass Performance Days, which is one of the world’s largest forum for the glass industry.
We feel that the market is showing considerable interest in our products, and I am convinced that this is just the beginning of a successful journey for ChromoGenics. Our ConverLight™ dynamic glass offers property owners, architects, energy consultants, construction companies and players in the window and façade glass industry an attractive and cost-efficient solution for solar control. ConverLight™ makes it possible to let in a reasonable amount of sunlight and heat without impairing visibility. This significantly improves the indoor climate. ConverLight™ also contributes to buildings energy efficiency by reduced electricity consumption, which is high on the environmental agenda for the sustainability work of both the EU and the commercial sector.
With a strengthened Board and organization, we continue to pursue a rapid expansion by investing in sales and an efficient, reliable production capacity. The considerable interest we are meeting from various market representatives confirms that our unique technology is creating good conditions for continued successful commercialization and future profitability!
Thomas Almesjö, CEO
Contact:
Thomas Almesjö, CEO
Susanne Andersson, CFO & Head of Communications
Tel: +46 18 430 0430
E-mail: info@chromogenics.com
This information is such that ChromoGenics AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Market Securities Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on July 21, 2017.
Every care has been taken in the translation of this document. In the event of discrepancies, the Swedish original will supersede the English translation.
About ChromoGenics
ChromoGenics is a leader in dynamic glass with controllable heat- and light transmission. The company’s unique electrochromic technology ConverLight™, provides sustainable solar control with increased indoor comfort and energy efficiency. In 2016 the company started commercial sales to real estate projects in Scandinavia.
ChromoGenics is located in Uppsala and has about 20 employees. The technology is derived from the world leading research center at Ångström Laboratory at Uppsala University. The plant has been partly financed by a conditional loan from the Swedish Energy Agency. ChromoGenics share (CHRO) is listed on Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser. www.chromogenics.com
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