While we succeeded in our various customer projects during the second quarter, our sales were weak. The Group's net sales amounted to SEK 2.1 million (23.8). During the quarter, we carried out a rights issue, which was up to 60 percent guaranteed in advance.
The final outcome of the rights issue entailed a capital injection of SEK 39.2 million before issue costs and repayment of the bridge loan.
"Since we are waiting for customer orders of larger volumes, this capital injection was necessary to lead and complete our new and ongoing customer projects, bringing them to final product," said Daniel Vallin, CEO of Cell Impact.
Cell Impact operates in a challenging market. There are well-known geopolitical reasons behind this, but the market itself - in terms of customers, suppliers and technology - is also still under development.
"I am pleased, but also humbled, to say that we have continuously been able to strengthen our position by broadening our customer base and reducing our dependence on individual customers," concluded Daniel Vallin.
Financial summary
- Net sales totaled SEK 2.1 million (23.8).
- Operating loss (EBIT) was SEK -20.0 million (-19.6).
- The Group's result after financial items was SEK -21.2 million (-20.9).
- Earnings per share attributable to the Parent Company's shareholders before and after dilution totaled SEK -0.03 (-0.04).
- Debt/equity ratio was 78 percent (82) on the balance sheet date.
- Cash flows from operating activities amounted to SEK -11.9 million (-19.3).
- On the balance sheet date, the Group's cash and cash equivalents totaled SEK 1 million (22.6). As of August 21, the cash balance amounted to SEK 16.1 million.
This information is inside information that Cell Impact AB is obliged to make public pursuant to the EU Market Abuse Regulation.
For more information, please contact:
Daniel Vallin
CEO and IR contact, Cell Impact AB (publ)
+46730686620 or daniel.vallin@cellimpact.com
Malin Lundberg
CFO, Cell Impact AB
+46 70 390 79 59 or malin.lundberg@cellimpact.com
About Cell Impact
Cell Impact AB (publ) is a global supplier of advanced flow plates to fuel cell and electrolyzer manufacturers. The company has developed and patented a unique method for high velocity forming, Cell Impact Forming which is significantly more scalable and cost-efficient compared to conventional forming methods. Cell Impact Forming is an environmentally friendly forming technology that consumes no water and very little electrical power. The Cell Impact share is listed on Nasdaq First North Growth Market and FNCA Sweden AB is the company's Certified Advisor (CA).