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Interim Report   2017-01-01 - 2017-06-30

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Summary of quarters 1 and 2 (Q1, Q2), 2017

The following summary refers to the period 1/1/2017 – 30/6/2017, compared to 1/1/2016 – 30/6/2016 

  • Net sales for the first quarter totaled 0 SEK (0 SEK)
  • Operating result for the period of -5 234 375 SEK (-3 265 174 SEK)*
  • Cash and bank balance of 4 680 775 SEK (16 158 346 SEK)
  • Capitalized development costs of 663 628 SEK (455 421 SEK)
  • Registered shares 8 580 000 (8 580 000)
  • Result per share -0,61 SEK (-0,38 SEK)
  • Equity Ratio 85,84% (92,85%)

Summary of quarter 2 (Q2), 2017

The following summary refers to the period 1/4/2017 – 30/6/2017, compared to 1/4/2016 – 30/6/2016 

  • Net sales for the first quarter totaled 0 SEK (0 SEK)
  • Operating result for the period of -2 863 559 SEK (-1 762 176 SEK)*

*Result incl. depreciations for the period

Comments from the OptiFreeze management

During the second quarter of 2017, OptiFreeze made some changes in the management of the company. The board has two new members, board member Elisabeth Yllfors and me, Göran Hedbys, as Chairman of the Board. Elisabeth Yllfors has a long experience from the food consumer market and she has held several senior positions in companies such as Findus, among others. I have a long experience from the supplier world and have worked with the Swedish company Alfa Laval for many years. Nick Kramer was recruited as a new Managing Director for the company and he has brought a stronger customer insight to OptiFreeze. He has been working in the customer segment that OptiFreeze is targeting, cooling of fresh vegetables and fruits. Nick Kramer’s previous employer was Vidinge Grönt, a market leader within fresh cut vegetables. OptiFreeze has strengthened the commercial competence with new participants, which is needed since OptiFreeze is now moving into the commercial phase.

We have worked with our commercial profile during this period and we have also made our web page more customer friendly. The Business plan has also been clarified and focus areas have been identified. The business model is put in place that is giving a clearer strategy, moving forward. OptiFreeze will continue to work towards the three customers segment Freezing, Cooling and drying. Where specifically Cooling, plant seeds and drying are believed to be the first areas to be commercialized.

During the period, a full-scale pilot plant has been delivered and tested. One of the critical components, the pulse generator, was delivered by Arc Aroma Pure, who also worked closely with OptiFreeze’s technicians to fine-tune the line. The results from the testing are meeting our expectations.

We are now well prepared to take the customer dialogs one step further. We have created a solid knowledge, based on how our OptiCept process treats and improves different raw materials. The Pilot plant is ready to handle full scale volumes and will initially be focused towards customers working with cooling, plant seeds and drying, where customer test will be done. We are entering a very exiting period for the company.

Lund August 29th, 2017

Göran Hedbys, Chairman of the board

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