Metacon publishes Year-end report for 2023

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Mar 28, 2024, 03:24 ET

STOCKHOLM, March 28, 2024 /PRNewswire/ -- During the fourth quarter of 2023, the company's strategic direction remained in focus. We are aware that the products and smaller systems we have previously sold have had to and will have to take a back seat for a period of time in favour of the investment we are now making in the industrial sector. We have now achieved significant breakthroughs in our efforts to be able to grow towards the market segment that is largest and most mature in the fossil-free hydrogen sector - large industrial projects, comments Christer Wikner, President and CEO.

For the full CEO-comment, see the Interim report in its entirety.

Quarter for the Group October-December 2023

Revenues amounted to SEK 1.4 (12.3) million.
Earnings before depreciation and amortization (EBITDA) amounted to SEK -17.4 (-12,1) million.
Operating profit (EBIT) amounted to SEK -20.6 (-5.6)* million.
Profit/loss after financial items amounted to SEK -24.4 (2.7)* million.
Earnings per share amounted to SEK -0.07 (0,01)*.

Period for the Group January-December 2023

• Revenues amounted to SEK 67.2 (67.1) million.

Earnings before depreciation and amortization (EBITDA) amounted to SEK -62.1 (-35.1) million.
Operating profit (EBIT) amounted to SEK -73.4 (-47.3)* million.
Profit/loss after financial items amounted to SEK -77.8 (-50.4)* million.
Earnings per share amounted to SEK -0.23 (-0.17)*.
The Board of Directors proposes that no dividend is to be paid for the 2023 financial year.

*In Q4 2022, the principle regarding the reporting of goodwill on additional investment in subsidiaries was adjusted, which resulted in reduced depreciation during 2022.

Significant events during and after the quarter

On November 9, Metacon announces that they enter into a strategic partnership with WattAnyWhere for the rollout of off-grid EV charging stations.
On November 13, Metacon announces approved CE marking of HHG 50 for the production of green hydrogen from biogas.
On November 23, Metacon announced that it had entered into a Memorandum of Understanding with PERIC regarding a strategic partnership for the manufacture and sale of Metacon's hydrogen generators on the Chinese market.
On December 4, Metacon announces a change of name of its subsidiary Helbio S.A to Metacon S.A.
On December 20, the Board of Directors of Metacon announces its intention to decide on a rights issue of units of approximately SEK 120 million.
On January 25, 2024, Metacon announces an exclusive license agreement with PERIC for rights to build a "Gigafactory" for the manufacture of its own electrolysis plants.
On January 25, 2024, the Board of Directors of Metacon announces a rights issue of units of approximately SEK 119 million and announces the terms of the rights issue.
On February 20, 2024, Metacon announces the final outcome of the rights issue.

This information is information that Metacon AB (publ) 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 below, on 28 March 2024 at 08:00 CET.

For additional information, contact Christer Wikner, on +46 (0)707 647389 or e-mail [email protected]

About Metacon AB (publ)
Metacon AB (publ) develops and manufactures energy systems for the production of hydrogen, heat and electricity. The products are based, among other things, on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other hydrocarbons. The development of Metacon's reforming products is done within the wholly owned subsidiary Metacon S.A., which is a spin-off from the University of Patra, Greece and was founded by Professor Xenophon Verykios in 2001. From the outset, the business has focused on catalysts and advanced reformers for highly efficient hydrogen production.

Metacon also offers system solutions and facilities for the production of hydrogen through so-called electrolysis, a large and globally growing area for production of green hydrogen. Hydrogen can be used in sectors such as transport, basic industry, and the real estate sector, with a better environment and climate as a result.

Further information can be found at:
www.metacon.se | Twitter: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab

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