Nexam Chemical Holding AB (publ) Interim Report 1 January – 30 June 2023
Lower sales but increased margins during the quarter
Second quarter at a glance
Significant events during the quarter:
- Ronnie Törnqvist was appointed as the new CEO.
- Sales decreased by 25% compared to the corresponding quarter in 2022, while the gross margin increased from 40% to 43%.
- Performance Masterbatch sales decreased by 21% compared to the corresponding quarter in 2022 and Performance Chemical decreased by 31%.
- Received an order of SEK 0.5m for additives to recycled PET for use in food packaging.
- Was granted 2.5 mSEK in grants from the Wallenberg Initiative Material Science for Sustainability (WISE). The grant will be used for research to use recycled plastic in more high-quality applications.
Financials during the second quarter 2023:
- Net sales during quarter amounted to SEK 41,623,000 (55,417,000).
- The gross margin amounted to 43% (40%) during the quarter.
- The adjusted operating profit before depreciation (Adj EBITDA) for the quarter was - 5,496,000 (- 930,000). The adjustment is related to the cost for change of CEO of 2.0 mSEK and write down of stock of 0.8 mSEK.
- The operating profit before depreciation (EBITDA) for the quarter was SEK – 8,298,000 (- 930,000).
- In comparison to the beginning of the year, cash and cash equivalents amounted to SEK 20,424,000 (22,875,000).
- Cash flow from the operating activities during the quarter amounted to SEK - 6,564,000 (- 2,841,000).
- Earnings per share before and after dilution amounted to SEK -0.16 (-0.05) for the quarter.
Lomma 14 July 2023
The Board of Directors
These financial statements haven’t been reviewed by the Company´s auditor.
Presentation:
Nexam Chemical presents the interim report for the second quarter 2023 on July the 14th at 13:30 CET. The presentation will be held in Swedish via the following link: https://youtube.com/live/JVn79zwlqDU
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Ronnie Törnqvist, VD, +46 (0)706-25 41 85, [email protected]
Certified Adviser:
FNCA Sweden AB, [email protected]
This information is information that Nexam Chemical Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:18 CET on 14th of July 2023.
