Freemelt Holding AB (publ) interim report Q3 2023
8 Nov 2023 | Regulatory
Freemelt Holding AB (publ) whose groundbreaking solutions create new conditions for rapid growth in 3D printing – reports Q3 earnings. Freemelt – listed on Nasdaq First North Growth Market – is one of the leading suppliers of advanced additive manufacturing solutions.
THE GROUP’S KEY FIGURES
|Net sales||8 152||8 007||14 662||23 946||37 323|
|Operating result||-17 696||-17 704||-64 661||-53 678||-67 647|
|Result after fin. items||-17 485||-17 708||-64 473||-53 625||-67 593|
|Balance sheet total||270 883||281 153||270 883||281 153||268 624|
|Cash flow||-12 958||-16 920||36 082||-43 123||-46 048|
SIGNIFICANT EVENTS DURING THE PERIOD, Q3
- Received a new order of Freemelt® ONE from a Turkish university
- Received a new order for Freemelt® ONE from the Institute of Nuclear Technology (ATOMKI) in Hungary
- The materials development project for the UK Atomic Energy Authority (UKAEA) linked to fusion energy has been completed with good results
- Established an indirect sales channel agreement regarding sales in India
SIGNIFICANT EVENTS AFTER THE PERIOD, Q3
- Signed a breakthrough agreement with a global leading technology company for the industrial machine, eMELT
- Signed an extended collaboration agreement with Texas A&M regarding the industrialization of additive manufacturing in the U.S
- Launched eMELT-iD, a brand new eMELT model that will strengthen its position of solutions for large-scale industrial 3D printing
CEO’s statement in brief
Freemelt have had a successful third quarter with two new orders for Freemelt® ONE.
It is a strong confirmation of the value our solutions bring to materials research and the manufacturing industry.
The development of the industrial machine eMELT, is going according to plan and we see a growing interest in the market. Freemelt® ONE, together with eMELT creates a completely unique solution enabling a seamless transfer from research and development to industrial mass production, which is an important competitive advantage for Freemelt.
We see an increasing interest in applications within the chemical element Tungsten, especially for use in renewable energy, semiconductors, medical technology and for the defense industry. We have several ongoing discussions with institutions and universities both in Europe and in U.S.
Shortly after the end of the period, we signed a breakthrough agreement regarding our industrial machine, eMELT. The customer is a global world-leading company in 3D printing of Tungsten products. The agreement stipulates that Freemelt achieves a new important milestone and enters a new commercial phase, from research to mass production.
I am incredibly proud of this success and the entire team at Freemelt who together made this possible. It has given me an increased expectation for the coming years, in a market in great change. Selling eMELT, unlike the research machine Freemelt® ONE, will generate new revenue streams in terms of recurring revenue and new value-centric pricing models linked to service agreements and aftermarket.
Latest update: 2023-11-08