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2020-10-30

Axolot Solutions Holding AB (publ) - Interim report January-September 2020

Summary of the third quarter 2020

Financially

  • Net sales amounted to 621 tsek (485 tsek for the corresponding quarter in 2019), referring to trial runs mainly in Sweden and Finland.
  • Other revenues were -3 tsek (3).
  • Earnings before interest and tax became -4 356 tsek (-5 506), where the improved results relate to an increase in trial runs and to effects from Axolot's Covid-19 related restructuring measures on the cost side.
  • Net earnings per share amounted to -0,16 sek (-0,21).
  • Liquid funds were 6 783 tsek at the end of September 2020.

Operationally

  • Axolot received its first order for an AxoPur® wastewater purification unit, to Colombier Barrier Coatings in Finland. The delivery is planned for the fourth quarter 2020.
  • Two trial agreements were signed, with Finnish customers within the energy and the construction material sectors respectively.
  • Axolot launched a model program, offering three different levels of automation - fully automated systems to be integrated in a supervisory control system in a bigger process industry; semi-automated systems suitable for industries with regular water purification needs; and manual systems more suited for irregular purification needs with manual supervision.

January - September 2020

  • Net sales for the first nine months 2020 were 2 365 tsek (1 261 for the corresponding period in 2019), which means the invoicing nearly doubled compared to previous year. 
  • Other revenues were 454 tsek (110), which mainly refers to additional subsidies from a Finnish agricultural authority, for a water purification project that was initiated in 2019. 
  • Results before interest and tax for the first nine months of the year were -15 902 tsek (-18 779).

Key events during the third quarter 2020

  • Axolot received its first order for an AxoPur® wastewater purification unit, to Colombier Barrier Coatings in Finland. 
  • In accordance with preceding announcements, Martin Ragnar assumed the role as President and CEO, as of July 1st, 2020.

Key events after the end of the third quarter 2020

There were no key events after the end of the third quarter.

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