Freemelt holding AB (publ) Interim Report Q2 2022

11 Aug 2022 | Regulatory

Freemelt Holding AB (publ), whose groundbreaking solution creates new conditions for rapid growth in 3D printing, is listed on Nasdaq First North Growth Market. The group was first formed 2021-06-17 when Freemelt Holding AB acquired Freemelt AB. There are therefore no comparative figures for the period.

The Group’s key figures

 (kSEK) April-June January-June Full year
2022 2021 2022 2021 2021
Net sales 5,152 15,939 302
EBITDA -14,142 -2,033 -24,094 -2,033 -26,899
EBIT -14,042 -2,033 -24,037 -2,033 -26,992
Balance sheet total 311,520 355,855 311,520 355,855 335,382
Equity ratio 97% 98% 97% 98% 97%

Significant events during the period, Q2

  • A Freemelt ONE system has been delivered in accordance with the order received from The University of Texas in El Paso, USA
  • An order for Freemelt ONE has been received from the Georgia Institute of Technology, USA
  • An order for Freemelt ONE has been received from the University of Maribor, Slovenia.
  • Upon delivery of systems to the Georgia Institute of Technology, a transportation damage has occurred that is an ongoing insurance case.

Significant events after the period

  • Daniel Gidlund will take up the position as the new CEO on October 18. He replaces the founder Ulric Ljungblad, who on his own initiative leaves the role of CEO. Daniel Gidlund comes most recently from Sandvik Mining & Rock Solutions, where he held the role of Vice President Sales, Division Parts & Services. Ulric Lundblad’s new role will be CIO, Chief Innovation Officer.
  • Patent granted for ProHeat™, which refers to a method for robust preheating of powders that opens the way for 3D printing of materials that have previously been considered inaccessible.

CEO words in summary
It has been a good second quarter and, in summary, a very good first half of the year. Reasons for the strengthened position as a commercial company are partly due to the increasing sales and successful start of production in Linköping, partly due to new qualified resellers worldwide, as well as to the launch of the new proprietary software Pixelmelt.

During the first half of the year, four Freemelt ONE machines were sold. The strategy of building on resellers has continued instead of building up our own organizations in new markets, which has proven to be a successful choice. During the past quarter, production moved into new, larger premises in Linköping. With operations in place, the production rate of machines can increase significantly.

Pixelmelt, a new software product launched in May, can greatly speed up our
own material development. We are currently focusing on applications in the materials titanium and tungsten where we are developing new process recipes for key customers. The material processes that are developed will eventually be used for series production of components in our upcoming industrial machine.

The focus for the rest of the year is primarily on the continued development of our industrial machine. Additionally, we focus on improving our ability to become even more efficient in order to be able to deliver systems at an ever-increasing pace to meet demand where the material supply for certain machine components is currently the biggest challenge.

The current CEO and co-founder Ulric Ljungblad has taken the initiative to leave the role as CEO. Freemelt has recruited Daniel Gidlund as the new CEO. Daniel has a long career in sales and aftermarket as well as business development, which is a guarantee of a rapid industrialization of Freemelt, and thus for continued growth in the fast-growing business area industrial additive manufacturing. Ulric Ljungblad will take on a new management role as Chief Innovation Officer where he will have full focus ensuring that Freemelt continues to develop superior technology for future products as well as communicating this to market and customers.

Link to the interim report in Swedish

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114 46 Stockholm
Tel: +46 8 684 211 10

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Latest update: 2022-08-11