English

myFC Holding AB (publ) interim report January – September 2019

Report this content

Quarter July – September 2019

  • Net sales amounted to SEK 0 thousand (202)
  • Operating profit amounted to SEK -18 million (-15). The result is affected by one-off costs of about 4 million SEK, mainly related to completed staff reductions.
  • Earnings per share amounted to SEK -0.16 (-0,22)

Significant events July – September

  • The restructuring of myFC continues according to plan

Significant events after the end period

  • The Board of Directors of myFC proposes a targeted new issue of about SEK 21 million

Comment from CEO Peter Friedrichsen:

“The restructuring of our operations and organization in accordance with our new focus continues according to plan. In the third quarter we, as previously announced, incurred one-off costs of about 4 million SEK, mainly related to completed staff reductions.

We have conducted discussions with all of the company's existing, established contacts when it comes to potential partners and customers. During the quarter we have also both initiated and deepened discussions with a number of new potential partners and customers. These conversations have given me greater clarity on which collaboration opportunities have the potential to materialize in the near future, and which are more long-term opportunities.

After the end of the period the board has announced that it proposes of a targeted new issue to H119, advised by Helvetican International, and called for an extraordinary general meeting for the decision. It is of great importance that we get a financially strong institutional owner that wishes to take part in the development of the company long term. The Board and I are pleased that Helvetican International has decided to invest in myFC and its technology and that they will also nominate members to the Board. Their investment will enable us to continue to improve our technology and to accelerate our sales ambitions, which is the main focus for me and for the company.”

This information is information that myFC 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 below, at 08:00 CET on 25 October 2019.

For further information, please contact: 
myFC Press Office 
Email:  press@myfc.se 
Phone: +46 (0) 738 09 33 83

Certified Adviser
Avanza Bank
Mail: corp@avanza.se
Phone: +46 (8) 409 421 20

About myFC
Swedish innovation company myFC offers thin, scalable fuel cells that are easy to dimension and adapt to any electric application. myFC develops hybrid technology solutions combining batteries and hydrogen-based micro fuel cells for extended usage and reduced carbon footprint. The company was founded in 2005 and was listed on NASDAQ First North Growth Market in 2014. Its headquarters are in Stockholm. For more information, visit myFC.se

Documents & Links