Swedish Stirling AB: Q3, 2022 report

Swedish Stirling AB publishes its Q3, 2022 report today.

Swedish clean tech company Swedish Stirling AB is publishing its interim report for the period 01-07-2022 – 30-09-2022 today. The report is available for download in its entirety on the company’s website. Significant events during the period include the following:

• Net sales for the quarter amounted to TSEK 39 (TSEK 50). Total revenue and capitalized work for the quarter was TSEK 39 (TSEK 10,666).

• Earnings per share, before dilution, for the quarter was SEK -1.90 (SEK -0.13).

• The Board of Directors of Swedish Stirling AB resolved, on the basis of the authorization given by the Annual General Meeting of 21 April 2022, to carry out an offer of newly issued preferential shares for a value of around SEK 100 million, to finance the production and installation of the PWR BLOK unit at Glencore’s Lion smelter in Steelport, South Africa. The Board of Directors of Swedish Stirling AB resolved in September to withdraw the offer due to prevailing market conditions.

• The company has decided on a write-down of development costs, primarily related to PWR BLOK Generation 1 and Generation 2, for a total of approximately SEK 204 million.