Impact Coatings announces that the activity level at its Coating Service Center Sweden during the fourth quarter so far has not met the expectation of a continued high level of activity as communicated in the third quarter 2023 interim report. The lower activity is mainly linked to delayed orders in electrolysis, where the company has a primary customer. Although planned volumes are still expected, delays in the receipt of orders imply that Impact Coatings expects to have insufficient time to produce and invoice at the same level as in the second and third quarters of 2023. As described in the third quarter 2023 interim report, the production of electrolysis stacks is in a ramp-up phase during which order timing and size can vary.
As a result of the lower activity, the Coating Service Center Sweden has transitioned to single-shift production but is prepared to ramp up again when needed. In parallel, the company is working on moving from tests and sample series to volume production for a wider customer base within electrolysis and other application areas.
As planned, the company intends to publish its report for the fourth quarter and full year 2023 on February 16, 2024.