Half year report Scandinavian Enviro Systems AB (publ) January – June 2020 | Scandinavian Enviro Systems

Half year report Scandinavian Enviro Systems AB (publ) January – June 2020

The partnership with Michelin confirms Enviro’s technology and commercial potential.

Picture: Process engineer Carl-Johan Pihlgren is performing calibration of a valve for the handling of oil in the plant at Åsensbruk.

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

Q2 2020

  • Net revenues for the period were MSEK 0.2 (0.1)
  • Earnings after tax for the period were MSEK -11.9 (-11.4)
  • Earnings per share for the period (before dilution) was SEK -0.02 (-0.03)
  • Cash flow for the period after investments was MSEK -11.4 (-11.4)
  • The company has completed a directed share issue of approximately MSEK 32.5 as part of a strategic partnership with Michelin. Currently, the partnership is considered to contain 4 areas:
    • A development agreement
    • A share investment total of 20 percent in Enviro after the issue (completed)
    • A common project to construct a plant
    • A common delivery agreement between Michelin and Enviro

Jan-June 2020

  • Net revenues for the period were MSEK 0.9 (0.2)
  • Earnings after tax for the period were MSEK -23.6 (-21.4)
  • Earnings per share for the period (before dilution) was SEK -0.05 (-0.07)
  • Cash flow for the period after investments was MSEK -23.1 (-20.1)

Significant events after end of period

  • Enviro and Michelin prolongs Letter of Intent regarding strategic partnership

You can find the entire half year report at https://www.envirosystems.se/en/investor/financial-information/.

 

For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman, Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com

Mangold Fondkommission AB, +46 (0)8 503 01 550, ca@mangold.seis Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB
Herkulesgatan 1K
SE-417 01 Gothenburg
info@envirosystems.se
www.envirosystems.se

This information is information that Scandinavian Enviro Systems AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was issued for publication through the agency of the contact persons set out above on August 27, 2020, at 08:30 CEST.

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