Axolot Solutions Holding AB (publ) - Interim report January - June 2021

Axolot sold its second AxoPur® system in quarter two and signed two agreements on in-depth tests and studies with the purpose to provide a basis for the dimensioning of full-size commercial systems.

Summary of the second quarter 2021

Financially

  • Net sales amounted to 529 tSEK (1 019 tSEK for the corresponding quarter in 2020), which refers to trial runs and studies.
  • Other revenues were 60 tSEK (11), which relates to state subsidies and support.
  • Earnings before interest and tax became -4 954 tSEK (-5 309).
  • Net earnings per share amounted to -0,09 SEK (-0,20).
  • Liquid funds were 19 329 tSEK at the end of the second quarter 2021.

Operationally

  • Axolot sold an AxoPur water purification unit to a customer within the logistics sector in Finland. This will be the first AxoPur system to be used in a position where the purified water is recirculated. The order value is around 750 tSEK. The system will be delivered and started up during the autumn.
  • Two agreements were signed on in-depth tests and studies with the purpose to provide a basis for the engineering and design of full-size commercial purification systems. Both customers operate within the recycling industry. Two other trial agreements were also signed.
  • Axolot has together with Swedavia and Research Institute RISE been granted co-financing from the State Geotechnical Institute (SGI), in a study of cost-efficient purification of PFAS substances.

Quarter 1-2 2021

  • Net sales for the first half year 2021 were 1 012 tSEK (1 744 tSEK for the corresponding period in 2020), where the decrease is explained by reduced possibilites for customer activities as a consequence from the pandemic.
  • Other revenues were 250 tSEK (457) coming from state subsidies and support.
  • Earnings before interest and tax became -9 399 tSEK (-11 546). Lower net sales was compensated by less costs for mainly personnel and consultants.

Key events during the second quarter 2021

  • Axolot sold an AxoPur water purification unit to a customer within the logistics sector in Finland. This will be the first AxoPur system to be used in a position where the purified water is recirculated. The order value is around 750 tSEK. The system will be delivered and started up during the autumn.
  • The Annual General Meeting in May 2021 was held by advance voting, supported by temporary rules due to the pandemic. The Board of Directors was authorized to make an issue of shares and a directed issue of warrants, according to the proposal made by the Board of Directors before the Annual General Meeting. It was also decided to make a change in the Articles of Association, to adapt to the wording in the Swedish Companies Act.

Key events after the end of the second quarter 2021

There were no key events after the end of the second quarter 2021.

For further information, please contact:
Martin Ragnar, President and CEO Axolot Solutions, tel: +46 70 817 11 16, mail: martin.ragnar@axolotsolutions.com

Anita Haak, CFO Axolot Solutions, tel: +46 70 817 11 12, mail: anita.haak@axolotsolutions.com

This information is information that Axolot Solutions Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on July 30, 2021.

About Axolot Solutions

Axolot Solutions is a Swedish environmental technology company, providing systems for industrial water purification. The company offers a holistic solution based upon a proprietary technology. Axolot's water purification concept is cost efficient and enables recirculation of the water. This leads to a reduced environmental footprint. Axolot Solutions also has business activities in Finland, through its affiliated company Axolot Solutions Finland Oy. More information about the Company and its business activities can be found at www.axolotsolutions.com.

Axolot Solutions Holding AB is based in Helsingborg, Sweden, and its shares (ticker: Axolot) are listed at Nasdaq First North Growth Market, Stockholm, since November 21, 2018. FNCA Sweden AB is the Certified Adviser of Axolot Solutions. FNCA Sweden AB can be reached at info@fnca.se and on tel +46 8 528 003 99.