Metacon publishes interim report for Q2 2024

With a focus in the second quarter on a specific breakthrough deal, we were finally able to announce after the end of the quarter that we have been commissioned to deliver a large industrial electrolyser with a capacity of 30 MW and a value of EUR 19.8 million, with the majority of component deliveries scheduled for 2025. Our customer, the publicly listed Motor Oil in Greece, is a leading company in the energy sector and operates, among other things, Europe's second-largest oil refinery in Corinth, Greece. This order is a good and clear example of the projects we are currently working on at various stages in our sales efforts. This electrolysis plant will be one of the largest of its kind in Europe when it is commissioned. Additionally, the project includes adaptations and preparation for Motor Oil to expand the facility with an additional 20 MW in a second phase, for which the facility will be prepared. We see this sale as a testament to the confidence in our technical expertise and our ability to deliver high-quality and proven solutions, comments Christer Wikner, President and CEO.

For the full CEO-comment, see the Interim report in its entirety.

Quarter April–June

• Revenues amounted to SEK 11.6 (28.0) million
• Earnings before depreciation and amortization (EBITDA) amounted to SEK -28.8 (-12.6) million
• Operating profit (EBIT) amounted to SEK -31.6 (-17.7) million
• Profit/Loss after financial items amounted to SEK -32.0 (-18.0) million
• Earnings per share amounted to SEK -0.05 (-0.05)            

Period January–June

• Revenues amounted to SEK 19.9 (44.3) million
• Earnings before depreciation and amortization (EBITDA) amounted to SEK -43.2 (-27.7) million
• Operating profit (EBIT) amounted to SEK -48.7 (-33.1) million
• Profit/Loss after financial items amounted to SEK -50.1 (-33.5) million
• Earnings per share amounted to SEK -0.09 (-0.10)

Events during and after the quarter

• On April 10, it is announced that Mattias Jansson has been hired as Chief Financial Officer of Metacon with effect from July 1, 2024, replacing Göran Rasberg who plans to retire.
• On May 7, a partnership with Siemens is announced for cooperation in the development of Metacon's technology portfolio and planned factory for the manufacture of large alkaline electrolysers.
• On August 8, it is announced that Metacon has entered into an agreement for the delivery of a 30 MW industrial electrolysis plant worth EUR 19.8 million (approx. SEK 226 million) and marks the start of European manufacturing.

Contact
Christer Wikner, President & CEO, +46 707 647 389, christer.wikner@metacon.com
Mattias Jansson, CFO, +46 722 316 862 Mattias.jansson@metacon.com

This information is information that Metacon AB (publ) 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 CEST on 22 Aug 2024.

About Metacon

Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free "green" hydrogen. The products in the Reforming business area are based on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other substances. The development of Metacon's reforming products is carried out within the wholly-owned subsidiary Metacon S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production. 

Metacon also offers complete electrolysis plants and integrated refuelling stations for green hydrogen, a large and globally growing area for production of green hydrogen. Electrolysis is a process in which a chemical reaction is driven to split water into hydrogen and oxygen by adding electricity. If the electricity used is fossil-free, hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in the transport sector, basic industry and the real estate sector, among others, and lead to a better environment, climate and increased self-sufficiency in energy and vehicle fuel as a result. www.metacon.com

For further information please see:
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