TC TECH Sweden AB (publ) publishes its interim report as of September 30th, 2020
TC TECH has today published its interim report for the period January 1 to September 30, 2020.
Net sales amounted to 0 (4 717) TSEK in the third quarter of 2020. In the same period, net profit/loss totalled -4 925 (-6 261) TSEK. Cash flow from operating activities was -3 125 (-2 243) TSEK in the third quarter of 2020.
Net sales amounted to 105 (9 835) TSEK in the first nine months of 2020, while net profit/loss totalled -17 581 (-21 633) TSEK. Cash flow from operating activities was -13 453 (-18 190) TSEK in the period from January 1st to September 30th 2020.
Developments in the third quarter of 2020
The company has still very limited possibilities to physically meet with customers and potential customers due to the Covid-19 pandemic. Instead, digital meetings are being frequently used. Testing activities for customers in Asia at TC TECH’s facility in Spånga are however ongoing. Other business operations are also, for the most part, continuing as planned with the exception of the mentioned limitations regarding marketing activities.
Developments after September 30th, 2020
The board of directors of TC TECH Sweden AB (publ) announced their decision to conduct a directed share issue of maximum 1 540 000 shares in accordance with the authorization granted from the company’s annual general meeting on May 14, 2020. The share issue will increase the company’s share capital with maximum 123 200 SEK, while the company receives approx. 10,6 MSEK in cash.
For further information, please contact:
Alexander Luiga, C.E.O., TC TECH Sweden AB (publ)
Tel: +46 (0)8-788 08 01
Email: alexander.luiga@tctech.se
www.tctech.se
This information was submitted for publication through the agency of the contact person set out above, at 8.00 C.E.T. on October 29th 2020.
About TC TECH
TC TECH is an innovative high-tech company that has developed its very own system for the production of advanced plastic details with nano patterns. Operations are based on an IPR-protected induction technique that makes it possible to heat and cool material rapidly and with high precision. Initially, TC TECH has chosen to focus on systems for the production of so-called Light Guide Plates (LGP) for screens and displays. TC TECH has its statutory seat and head office in Stockholm (Spånga), Sweden, where also R&D operations are based.
The TC TECH share is listed on Nasdaq First North Growth Market.
Arctic Securities is the company's Certified Adviser, email: certifiedadviser@arctic.com, tel: +46 844 68 61 00.