Nexam Chemical Holding AB (publ). Interim Financial Statements for Quarter 1, January–March 2013
The Quarter at a Glance
• Nexam was the first in the world to produce details of crosslinked nylon with conventional injection molding.
• Test plates of crosslinked nylon 66 have been produced for BASF for further evaluation.
• A non-disclosure agreement has been signed with a world-leading company within specialty nylons and a project together with this company has been initiated.
• Positive initial results from tests with crosslinked specific PET material with leading producer of PET material to the energy sector.
• Initiated project with Rolls-Royce for development of materials to airplane engines.
• Delivery of crosslinked test materials for evaluation in several customer projects within the electronics and aerospace industry.
• The completion of Nexam’s plastics processing laboratory has come close to finalization, which will accelerate the developments going forward.
Financials & Legal
• Net turnover for the period totalled SEK 203 thousand (103 thousand). Net profit/loss before tax came in at SEK –6,487 thousand (–4,253 thousand)
• Total assets at the end of the period amounted to SEK 70,286 thousand (35,109 thousand), of which there were SEK 56,038 thousand (22,691 thousand) in cash and cash equivalents at the end of the period
• Cash flow during the period was reported at SEK 48,822 thousand (–6,838 thousand). The new share issue had an effect on cash flow during the period equal to SEK 53,850 thousand
• The new share issue of SEK 53,900 thousand in Nexam Chemical AB was completed
• The annual general meeting of Nexam Chemical AB was held on 20 March. Nexam Chemical AB executed, at the same day, a reverse acquisition of Nexam Chemical Holding AB, thus becoming the group's new parent company
Key Events after the End of the Period
• Nexam Chemical Holding AB's shares were admitted to trading on NASDAQ OMX First North on 23 April
• The European Patent Office (EPO) announced that Nexam's patent application concerning its PETA crosslinker will be granted in Europe
• The United States Patent and Trademark Office (USPTO) announced that Nexam's American patent application concerning a new type of crosslinkable nylon will be will be granted in the US
• The European Patent Office (EPO) announced that Nexam's European patent application concerning the Company's crosslinking technology for polycarbonates will be granted in Europe
• Two of Nexam’s customers working with the thermoplastic called PEEK, have reported positive results from their projects
These financial statements have not been audited by the Company's auditor. Note: This report has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
Lund, 20 May 2013
Board of Directors
Read the PDF for the complete report
For more information, please contact:
Lennart Holm, Chairman of the Board: +46 (0)706 30 8562
Per Palmqvist Morin, CEO, +46 (0)706 55 55 82
Nexam is a Swedish company with a world-leading technology within its area for heat-activated crosslinking of plastics and polymers. The company develops, manufactures and markets unique heat-activated crosslinkers to the plastics market. A company description and more information about the business will be found on www.nexam.se. Certified Adviser is Remium Nordic AB.