INTERIM REPORT  January - March 2020

AXOLOT’S DEFINED TECHNICAL PLATFORM CONTINUES TO TAKE SHAPE IN CURRENT AND NEW EXCITING CUSTOMER PROJECTS

SUMMARY OF THE FIRST QUARTER 2020

Financially

• Net sales amounted to 725 tsek (169 tsek for the corresponding quarter in 2019)
• Other revenues were 446 tsek (0), referring to additional subsidies from Finnish agricultural authorities, for a successful water purification project that started in 2019
• Earnings before interest and tax became -6 237 tsek (-5 669)
• Net earnings per share amounted to -0,24 sek (-0,21)

Key events during the first quarter 2020

• Based on the dramatically changed market situation, due to the Covid-19 outbreak, the Axolot Solutions Board decided on a restructuring package in order to adapt the organisation to the new circumstances. The measures mainly comprise personnel and consultant reductions. Customer trials will however continue to be performed and Axolot aims at being prepared to start delivering commercial equipment as soon as the market situation improves.
• As part of the measures, the Board decided that certain roles within the management team shall be combined. This means that Research Manager Martin Ragnar will take the role as CEO for Axolot, latest from August 2020, and also that the role as CTO will be omitted. Marie Landfors and Daniel Holm will as a consequence leave the Company at the end of their notice period.

Key events after the end of the first quarter 2020

No key events after the end of the first quarter. 

For further information, please contact:
Marie Landfors, President and CEO Axolot Solutions, tel: +46 72 198 76 50, mail: marie.landfors@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 person set out above, at 08:00 CET on April 29, 2020.

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 within electro-coagulation and flotation. Axolot's water purification concept is cost efficient and enables recirculation of the water. This leads to a reduced environmental footprint.

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.