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Nexam Chemical Holding AB (publ). Interim Financial Statements for Quarter 2, April–June 2013

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The Quarter at a Glance

Operations:

  • A leading US-based materials supplier for the aerospace industry informs Nexam that they are going to qualify Nexam's PEPA for an aircraft project lasting several years
  • Nexam St. Andrews decides to selectively accept external contract manufacturing orders. The first order has a value of SEK 900 thousand and is for delivery in August–September
  • Nexam has intensified its collaboration with some major select contract manufacturers in Europe in preparation for expected future production of multi-tonne volumes of Nexam's products
  • 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 European Patent Office (EPO) announced that Nexam's patent application concerning the Company's crosslinking technology for polycarbonates 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 granted in the US
  • Two of Nexam's customers working with the thermoplastic called PEEK, have reported positive results from their projects

Financial & legal:

  • Net turnover for the period totalled SEK 299 thousand (72 thousand). Net profit/loss before tax came in at SEK –5,571 thousand (–4,437 thousand)
  • Total assets at the end of the period amounted to SEK 66,776 thousand (30,890 thousand), of which there were SEK 46,457 thousand (17,430 thousand) in cash and cash equivalents at the end of the period
  • Cash flow during the period was reported at SEK –9,541 thousand (–5,328 thousand), and includes several items of a one-time nature

Key Events after the End of the Period

  • Positive customer results in the field of crosslinking PET foam, used, for instance, as material in wind turbines. The customer has announced that they plan on ordering additional amounts of Nexam product for upscaling production tests in its regular production facility in September
  • Nexam Chemical's C-PET 3 project application is ranked number 36 of 510 European applications in 2013 to Eureka/Eurostars in Brussels. Nexam Chemical, Fraunhofer ICT from Germany and an end client that is a world leader with a base in Europe are responsible for the project
  • Nexam product developed as part fo the PO-CROSS project (regarding e.g. crosslinked PE for pipes and other applications) has been scaled up at Nexam St Andrews and a larger sample volume has been sent to project participants ABB, IRPC and Repsol for further evaluation
  • NASA has continued to purchase materials from Nexam during the summer – the latest order was worth around SEK 100 thousand
  • Nexam's patent in the US with regard to crosslinked nylon has now been granted

Lund, 19 August 2013
Board of Directors

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. 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

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Q2 Financial Statement Nexam

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