Chinese authorities in August approved five regional hydrogen city clusters under the country’s four-year comprehensive hydrogen application pilot program. Following the approval, Impact Coatings is seeing increased orders and customer forecasts for coatings of PEM fuel cell bipolar plates in China. To meet the demand, the company’s Coating Service Center in Shanghai has resumed full one-shift operation and expects to transition to two-shift production toward the end of 2026.

The hydrogen pilot program was announced in March 2026 by China’s Ministry of Industry and Information Technology (MIIT), Ministry of Finance (MOF), and National Development and Reform Commission (NDRC). With the five regional clusters approved during August 2026, the program is moving into implementation.

The five approved clusters comprise Beijing–Tianjin–Hebei, the Greater Bay Area, Northeast China/Eastern Inner Mongolia–Yangtze River Delta, Xinjiang–Chengdu–Chongqing, and the Yellow River/Central Plains region. Together, the clusters extend the program across several of China’s major industrial regions, with effects throughout the hydrogen industry supply chain, including component suppliers that are customers of Impact Coatings.

The five regional clusters will be eligible for combined central-government funding of up to RMB 8 billion (approximately USD 1.1 billion) over four years. Funding will be front-loaded, with the highest level of support in the first year and then gradually decreasing.

The development is in line with Impact Coatings’ assessment in its Q2 2026 interim report, published on August 21, that the anticipated increase in fuel cell market demand following the announcement of the pilot program in March had been delayed, rather than reflecting a change in underlying market conditions.

“The approval of the five regional clusters provides the clarity the market has been waiting for. We are now seeing customers moving ahead with increased production, which is translating into increased orders for Impact Coatings. We believe customers are positioning themselves to secure market share, and we expect demand to grow as the program moves into implementation,” said Jonas Nilsson, CEO of Impact Coatings.

The program aims to scale hydrogen applications across industries and sectors and covers the hydrogen value chain from production and storage to transportation and end use. The four-year pilot program is in line with China’s increased focus on hydrogen under the 15th Five-Year Plan (2026–2030).

China’s strong policy support for hydrogen reflects the country’s ambition to develop a globally leading hydrogen industry. The scale and long-term potential of the Chinese market were key reasons for Impact Coatings’ early establishment in China. Through its local presence and Coating Service Center in Shanghai, the company has since established a leading position in the Chinese market for PVD coatings of fuel cell bipolar plates.

FINANCIAL RESULTS SECOND QUARTER 2026

  • Net sales amounted to SEK 9.7 million (6.5)
  • Total revenue amounted to SEK 10.5 million (14.7)
  • Operating profit amounted to SEK -13.0 million (-15.8)
  • Operating profit after financial items amounted to SEK -13.2 million (-15.8)
  • Cash flow amounted to SEK -3.0 million (2.8)
  • Cash balance, end of period, amounted to SEK 15.2 million (30.8)
  • Liquidity ratio amounted to 58% (70)
  • Adjusted liquidity ratio amounted to 58% (107) [1]
  • Order backlog coating systems at period end amounted to SEK 29.4 million (0) [2]
  • Order backlog Coating Services at period end amounted to SEK 1.7 million (1.7) [2]

FINANCIAL RESULTS JANUARY-JUNE 2026

  • Net sales amounted to SEK 22.4 million (16.0)
  • Total revenue amounted to SEK 23.1 million (34.4)
  • Operating profit amounted to SEK -24.1 million (-30.1)
  • Operating profit after financial items amounted to SEK -24.5 million (-30.0)
  • Cash flow amounted to SEK -22.3 million (-2.8)

BUSINESS HIGHLIGHTS DURING THE SECOND QUARTER 2026

  • Order for an INLINECOATER™ IC500 from HJWAVE (Korea), for waveguide antennas for vehicle radar – order value in the EUR 1.5 million range
  • Repeat order for an INLINECOATER™ IC500 from LINDBERG – Kering Eyewear (Denmark), for decorative coatings for luxury eyewear – order value in the EUR 1-1.5 million range
  • Letter of Intent with LT Metal (Korea) regarding the commercialization of catalytic iridium oxide electrodes for PEM electrolyzers

BUSINESS HIGHLIGHTS AFTER THE PERIOD

  • Delivery completed of INLINECOATER™ IC500 to HJWAVE (Korea)

[1] In Q2 2025 included the part of the inventory that was financed by customer pre-payments.
[2] Future agreed leasing revenue of SEK 8.4 million over 33 months for a production line leased out by the subsidiary in China is not included in the backlog figures.


CEO’s COMMENTARY

The second quarter demonstrates that the strategic priorities we have set in recent years continue delivering tangible results. We are building our long-term position in solid oxide technology, while also winning business in areas where demand is strongest right now. The quarter’s highlights were system orders in two of our four main segments, increased volumes in Coating Services, and total order intake of SEK 39 million.

Stable net sales and increased order backlog
Net sales for the second quarter amounted to SEK 9.7 million (6.5), an increase driven by growth in Coating Services. During the first two quarters of the year, activity in China has been weaker than expected, while order intake in Europe has developed positively.

One of the strategically important new customers highlighted in our Q1 report increased its Coating Services orders to more than SEK 3 million during Q2. After the end of the quarter, the customer’s cumulative order value surpassed SEK 5 million. This illustrates how our customer relationships typically develop, from smaller test orders to increasing production volumes following an extensive qualification process, often several months before a potential system sale.

The two INLINECOATER™ IC500 system orders, placed by two separate customers, will be recognized as revenue upon shipment during the third and early fourth quarters. At the end of the period, the order backlog amounted to SEK 29.4 million for systems and SEK 1.7 million for Coating Services.

Two system orders – delivery capacity and customization as competitive advantages
Following focused and persistent sales efforts, we received two INLINECOATER™ IC500 system orders during the spring in two of our main segments.

The IC500 system ordered by HJWAVE was delivered mid-July, following a lead time of three months. This short lead time is a direct result of the decision we made in 2024 to build coating systems based on sales forecasts. We are seeing that customers value the combination of short lead times, strong process expertise, and the ability to customize systems to their production requirements. In some cases, lead time is a condition for winning an order. By keeping components and subsystems in inventory that can be completed and configured for delivery, we can meet these requirements without sacrificing the flexibility that differentiates our delivery from standard machines.

In line with the Letter of Intent announced on December 11, 2025, we received a system order from our long-standing customer LINDBERG. LINDBERG, a Kering Eyewear brand and subsidiary, is a Danish luxury eyewear company that has maintained an in-house PVD coating operation based on Impact Coatings equipment for many years. With the new IC500 order, the company has invested in eight INLINECOATER systems, confirming the strength of our existing customer relationship and their continued willingness to invest. Delivery is planned for early in the fourth quarter of 2026, in accordance with the customer’s request.

Energy segment strategy translating into new business
In the energy segment, we are developing the business in two complementary areas. We are strengthening our position in PEM electrolysis while establishing a long-term presence in solid oxide technology. The fact that SOFC/SOEC applications can be addressed using our existing INLINECOATER platform provides an efficient entry point into a growing market segment.

We continue to see positive development in our sales pipeline, with customer dialogues converting into paying customers and growing business opportunities. A total of 11 new paying customers were added during the quarter, five of which were in electrolysis and three in SOFC. Volumes from these new customers remain low, but the development demonstrates that the strategic direction toward solid oxide technology established in 2025 is translating into a growing number of business opportunities.

During the quarter, we signed a Letter of Intent regarding collaboration on iridium oxide coatings with LT Metal, a South Korean manufacturer of so-called PTLs for PEM electrolyzers. By developing and verifying solutions together with component suppliers, we can reduce technical uncertainty for the end customer and thereby simplify the qualification process. The collaboration is another step in our efforts to expand the business within PEM electrolysis and create more business opportunities with both existing and new customers.

Consolidation strengthens the electrolyzer market, while the fuel cell market in China remains cautious
The electrolyzer market, with a focus on North America and Europe, continues to consolidate globally. Several major players have exited the market, while investment and financing are increasingly concentrated among companies with the strongest market positions and the best prospects for scaling production. Today, the majority of leading international electrolyzer companies are among our paying customers, giving us a strong starting point as the market enters its next investment phase.

Within the fuel cell segment in China, we have not yet seen the order intake impact we expected following the pilot program for hydrogen initiatives presented by Chinese authorities in March. Our assessment is that this primarily represents a timing shift rather than a change in the underlying market conditions. With uncertainty around when activity will accelerate, we are monitoring developments closely. China and the rest of Asia are also important markets for our long-term investment in solid oxide technology, with several ongoing customer dialogues within SOFC.

Outlook
The strategic direction we established in 2025 remains unchanged. We are building a broader offering within the energy segment by combining our established position in PEM electrolysis and fuel cells with a long-term investment in solid oxide technology. At the same time, we are developing Coating Services as a stable revenue base and a platform for future volume and system sales.

Summarizing the first half of the year, we see that development is progressing in the direction we have communicated, although the pace varies across our main segments. Within the electronics and luxury segments, our sales efforts have resulted in system orders. The energy segment demonstrates strong order intake within Coating Services and continued customer dialogues regarding future system sales within our established business areas, while the customer base within solid oxide technology continues to grow. The automotive segment remains cautious, in line with the weaker development in the automotive industry overall.

Alongside our continued sales efforts, our focus remains firmly on cost control, cash flow, and improving margins. Increased sales are an important prerequisite for achieving profitability, but we view continued financial discipline as equally important to building a sustainable company over the long term.

We believe that Impact Coatings is in a stronger position today than it was a year ago, with a broader customer base, a clearer offering, and better prospects for achieving long-term profitability.

Jonas Nilsson, CEO

Presentation


Impact Coatings invites investors, analysts and the media to a presentation of this Interim Report on Friday, August 21 at 11:00 am (CEST). CEO Jonas Nilsson and CFO Lena Åberg will comment on the Interim Report and take questions. The presentation will held via webcast in English.

LT Metal (Seoul, Korea) and Impact Coatings (Linköping, Sweden) have launched a collaboration to commercialize catalytic iridium oxide-coated porous transport layers (PTLs), acting as porous transport electrodes (PTEs), for improved durability and cost-efficiency of PEM electrolyzers.

The parties have successfully demonstrated catalytic iridium oxide coatings on LT Metal’s titanium PTLs using Impact Coatings’ PVD technology. The resulting PTEs deliver performance comparable to, or better than, conventional solutions while using significantly less iridium. Meanwhile, PVD on titanium provides exceptional durability, supporting long service life and cost efficiency of PEM electrolyzers.

In conventional manufacturing of PEM electrolyzers iridium oxide is applied to the polymer cell membrane. Applying the catalytic material to the adjacent titanium PTL instead allows for significant reduction of used iridium. In addition, integrating the iridium-oxide coating with the platinum coating of the PTL in the same PVD coating line, allows for a simplified and more cost-efficient overall manufacturing process.

LT Metal’s titanium PTL is a key component applied on the anode (oxygen evolution) side of PEM electrolyzers, enabling efficient mass transport of water, oxygen, electrons, and protons under highly acidic, high-voltage, and high-current-density conditions. Leveraging its proprietary titanium processing and sintering technologies, LT Metal has developed titanium PTLs featuring a uniform pore structure, optimized porosity and thickness, excellent electrical conductivity, and outstanding chemical stability. Through standardized manufacturing processes tailored for mass production, the company ensures both consistent quality and cost competitiveness.

As one of Korea’s leading precious-metal materials companies, LT Metal integrates its long-established expertise in platinum-group metals (PGM) and iridium/platinum catalyst technologies with its titanium PTL business, providing a vertically integrated supply capability from raw materials to finished components. By combining Impact Coatings’ PVD catalyst coating technology with LT Metal’s titanium PTL, the two companies are laying the groundwork for the mass production of catalyst-coated PTLs (PTEs) that minimize iridium consumption while delivering long service life and high performance.

Impact Coatings supply PVD technology, coating services and production equipment, with a focus on energy applications. With dedicated coating service centers in Linköping, Sweden, and Shanghai, China, the company is a leading coating supplier to PEM electrolyzer manufacturers globally. The company’s INLINECOATER™ IC2000 PVD production line is a proven industrial solution for coating critical components used in PEM electrolyzers, as well as PEM and solid oxide fuel cells.

A Letter of Intent (LOI) between LT Metal and Impact Coatings, signed in June 2026, outlines the framework for joint-development and large-scale commercialization of catalytic electrodes for PEM electrolyzers. The LOI reflects the parties’ intention to collaborate strategically, while the non-exclusive nature of the agreement allows both parties to continue their respective independent business operations.

About LT Metal
LT Metal (www.ltmetal.co.kr), founded in 1974, is one of Korea’s leading companies specializing in precious-metal materials and components. The company has led the domestic development of precious-metal materials – including gold, silver, and platinum-group metals (PGM) – as well as the development of advanced components based on them.

LT Metal’s core business covers precious-metal-based materials and components supplied to the semiconductor, electrical, electronic, and display industries – including bonding wires, sputtering targets, conductive materials, plating chemicals, contact materials, and brazing alloys – together with platinum-group metal compounds and precious-metal recycling and refining services. In parallel, the company is steadily expanding its portfolio into future energy and eco-friendly sectors, including platinum catalysts for hydrogen fuel cells, titanium PTLs for PEM water electrolysis, and pharmaceutical and environmental catalysts.

Building on more than five decades of expertise in precious-metal materials and precision component manufacturing, LT Metal is nurturing its titanium PTL and catalyst-coated electrode (PTE) businesses for PEM electrolyzers as key growth drivers for the hydrogen economy era, and is strengthening its position across the domestic and global hydrogen value chain through strategic global partnerships.

About Impact Coatings
Impact Coatings (www.impactcoatings.com) is a global technology leader and full-service provider of coating solutions using PVD technology. The company is an enabler in the energy sector for off-grid power and hydrogen-related applications, as well as in automotive and other industries with emerging PVD use cases.

PVD stands for physical vapor deposition – clean processes of applying thin layers of coatings to design surface properties, prolong lifespan, and improve product performance. The company’s offer consists of efficient, modular, and flexible PVD systems, and coating services, underpinned by several decades of coating experience and expertise.

The company was founded in 1997 and has since expanded in Europe, Asia and North America. Current production facilities are located in Linköping, Sweden, and in Shanghai, China.

The Impact Coatings share is listed on Nasdaq First North Growth Market (Nasdaq Nordic). The company’s Certified Adviser is Redeye Nordic Growth AB.

Impact Coatings publishes its Interim Report for the second quarter of 2026 on Friday August 21, at 08:00 a.m. (CEST). In reference to this, the company invites investors, analysts and the media to a webcast on the same day at 11:00 a.m. (CEST). Impact Coatings’ CEO Jonas Nilsson together with CFO Lena Åberg will present and comment on the Interim Report, and answer questions. The presentation will be held in English.

What: Presentation of Impact Coatings’ Q2 2026 Interim Report via webcast
Time: Friday August 21, at 11:00 a.m. (CEST)
Link to webcast: https://www.finwire.tv/webcast/impact-coatings/q2-2026/
 
The webcast in its entirety will afterwards be available on the company’s website www.impactcoatings.com.

The Annual General Meeting on May 20, 2026 in Impact Coatings AB (publ) (“the Company”) resolved to implement a warrant-based incentive program for key persons (2026/2029:1) at a maximum of 300,000 warrants.

Each warrant entitles the holder to subscribe for one new share in the Company at a subscription price corresponding to 150 per cent of the volume-weighted average price paid for the Company’s share on Nasdaq First North Growth Market during the period from May 25, 2026 up to and including June 5, 2026. The subscription price has thereby been set at SEK 6.23 per share. The warrants may be exercised for subscription of shares during the period from June 14, 2029 up to and including August 30, 2029.

Prior to subscription, the final warrant premium has been determined based on the Black-Scholes warrant valuation model at SEK 0.82 per warrant. The calculation has been carried out by the independent valuation institute People & Corporate Performance AB.

A total of 121,000 warrants have been subscribed, meaning that the program has been subscribed to 40.3 percent. The Board’s decision regarding the allocation of warrants was made on June 11.

Terms and conditions for the warrant-based incentive program can be found in the documentation for the Annual General Meeting 2026 on the Company’s website, www.impactcoatings.com.

The Annual General Meeting (AGM) of shareholders of Impact Coatings AB (publ), listed on Nasdaq First North Growth Market, was held today. At the AGM, 17 shareholders were represented, corresponding to 30.8 percent of the total number of votes in the company.

The presentation given by CEO Jonas Nilsson at the AGM can be found on the company website www.impactcoatings.com.

Among other items, the AGM decided:

To adopt the income statement and balance sheet for 2025, as proposed by the Board of Directors.

To allocate the company’s results in accordance with the proposal of the Board of Directors.

To grant discharge from liability to the members of the Board of Directors and the CEO, Jonas Nilsson.

That the number of Board members shall be reduced from five (5) to four (4), with no deputy members.

To re-elect Mark Shay, Christian Sahlén, Roland Fischer and Johanna Pynnä as members of the Board of Directors, and to re-elect Mark Shay as Chairman of the Board.

That remuneration of SEK 200,000 shall be paid to each ordinary Board member and SEK 300,000 to the Chairman of the Board, with no additional remuneration for committee work.

To elect Öhrlings PricewaterhouseCoopers AB (“PwC”), with Johan Palmgren as auditor in charge, as the company’s auditor.

To adopt the Nomination Committee’s proposed procedure for appointing the forthcoming Nomination Committee.

To approve the Board of Directors’ proposal regarding the implementation of a warrant-based incentive program for key persons.

To authorize the Board of Directors to resolve on the issuance of shares, warrants and/or convertible instruments.

To authorize the Board of Directors to make such minor adjustments to the resolutions adopted by the AGM as may be required in connection with registration with the Swedish Companies Registration Office and Euroclear Sweden AB.

Impact Coatings AB (publ) has received an order for an INLINECOATER™ IC500 from LINDBERG – Kering Eyewear, to be used for decorative PVD coatings in the manufacturing of luxury eyewear. The order represents the eighth INLINECOATER system to LINDBERG since the first delivery in 2008. The new system is planned to be shipped in the third quarter of 2026. Order value is in the EUR 1-1.5 million range.

LINDBERG, which was acquired by Kering Eyewear in 2021, is a Danish luxury eyewear brand known for its minimalist, screwless titanium designs and high-end customization.

Over many years, LINDBERG has built a large, in-house PVD coating facility using equipment from Impact Coatings. Its manufacturing operations encompass an extensive portfolio of protective and decorative PVD coatings – all matching the company’s world-class level of high-end eyewear frames.

“Our collaboration throughout many years with Impact Coatings has been of great importance for the successful establishment of our in-house PVD coating facility,” said Niels Mikkelsen, Head of Coating, LINDBERG. “The PVD machines from Impact Coatings deliver both the flexibility and coating quality we need, enabling efficient production of customized frames with highly durable decorative finishes. We have now decided to expand our PVD facility by purchasing another INLINECOATER from Impact Coatings, and we are looking forward to having this new machine running in our advanced coating production.”

FINANCIAL RESULTS FIRST QUARTER 2026

  • Net sales amounted to SEK 12.7 million (9.5)
  • Total revenue amounted to SEK 12.6 million (19.7)
  • Operating profit amounted to SEK -11.1 million (-14.2)
  • Operating profit after financial items amounted to SEK -11.3 million (-14.2)
  • Cash flow amounted to SEK -19.3 million (-5.6)
  • Net cash, end of period, amounted to SEK 18.3 million (26.3)
  • Liquidity ratio amounted to 99% (70)
  • Adjusted liquidity ratio amounted to 99% (132) [1]
  • Order backlog coating systems at period end amounted to SEK 0 million (0) [2]
  • Order backlog Coating Services at period end amounted to SEK 4.5 million (2.6) [2]

BUSINESS HIGHLIGHTS DURING THE FIRST QUARTER 2026

  • No significant events occurred during the period

BUSINESS HIGHLIGHTS AFTER THE PERIOD

  • Order for an INLINECOATER™ IC500 from HJWAVE, a Korean supplier of radar waveguide antennas for autonomous driving – order value in the EUR 1.5 million range

[1] In Q1 2025 included the part of the inventory that was financed by customer pre-payments.
[2] Future agreed leasing revenue of SEK 8.8 million over 36 months for a production line leased out by the subsidiary in China is not included in the backlog figures.


CEO’s COMMENTARY

Following a long period of customers’ delayed willingness to invest in systems, we secured – following the end of the quarter – a system order within one of our core segments, confirming that the business discussions we have pursued persistently and purposefully over an extended period are beginning to translate into orders. The development reflects what we have seen in the market – that customers are advancing projects, even if their decision-making takes time.

Stable Q1 – system order after the end of the quarter
Net sales during the first quarter amounted to SEK 12.7 million (9.5). As in previous years, the business was affected by seasonal effects linked to the Chinese New Year, which temporarily reduced activity in China. We also experienced some delay in Coating Services order intake, which affected net sales. This was compensated for by a positive one-off effect of SEK 4.8 million. The one-off effect is a consequence of the sale of metals in inventory to accelerate the transition to the new metals management agreement previously communicated.

After focused sales work during the quarter, discussions regarding system deals remained active and after the end of the quarter we received an order for an INLINECOATER™ IC500 systems from HJWAVE, a Korean supplier of waveguide antennas for vehicle radar. The deal brings us a new system customer in the Korean market and broadens our presence in the electronics segment with applications in the automotive industry.

The order confirms the picture of long sales cycles, where external factors have influenced decision-making processes. It is gratifying that we are now beginning to see the results of sustained sales efforts.

We continue to engage in discussions regarding an INLINECOATER system with our long-standing customer LINDBERG in the luxury segment, in line with the letter of intent announced on December 11, 2025.

Expanded customer relationships and development within SOFC/SOEC
The customer base has continued to develop, and we are working to broaden collaboration with existing customers while addressing new application areas. Business development entails consistent hard work with results that can vary greatly between quarters.

Many customer relationships begin with smaller paid test orders, which is a natural step in the qualification process for future volume and system deals. The ongoing activity increases the likelihood both of larger volumes within Coating Services and, ultimately, system sales.

The first quarter saw continued test orders within electrolysis and fuel cell applications from existing customers. After the quarter, we received test orders from two larger, strategically important customers within SOFC and PEM electrolysis. All of these new deals are at an early stage but give us confidence in continued positive developments.

Our work with solid oxide technology, which includes both SOFC and SOEC, continues in line with the strategic direction we established at the end of 2025. Interest in energy-related applications continues to grow, particularly in power supply to data centers where the rapid expansion of AI infrastructure is driving the need for stable and efficient energy solutions. At the same time, there are broader structural drivers linked to the development of energy systems that are strengthening the demand for this type of solution. In this context, solid oxide technology has significant potential. These applications involve long development cycles, but we expect them to provide significant business opportunities in the future.

In PEM electrolysis, we continue our work with iridium oxide coatings. We have several customers who are evaluating the integration of iridium oxide into their production of electrode plates instead of iridium on adjacent membranes. In practice, this means that an additional coating step can be moved to our machine systems, which both streamlines customers’ production and increases the value per component.

Cost discipline with a focus on profitability
During the quarter, we implemented additional measures to adapt operations to the current market situation. The workforce in the parent company has now decreased by a total of approximately 42 percent since December 2024. In parallel, measures are being implemented to reduce production costs in the systems business, which will improve margins of future deliveries.

Long-term market growth drivers
The hydrogen market remains in a transitional phase, with China continuing as the driving force. During the quarter, however, we observed that uncertainty surrounding the regulatory framework in China affected investment willingness. Towards the end of the quarter in March, Chinese authorities presented a pilot program that sets the direction for upcoming hydrogen investments within the framework of the new five-year plan, with continued clear support for hydrogen-based solutions. Our view is that this clarity will contribute to increased activity as implementation progresses.

The electrolysis market is consolidating, leading to fewer but more financially resilient players. Those players that continue through the consolidation will have a stronger basis for investing in production equipment and improved opportunities to attract both private and public financing. Our established presence with the leading electrolysis players in our main markets gives us good opportunities to participate in the growth that follows as the market matures.

Ongoing conflicts and increased geopolitical tensions also affect investment decisions in the short term. At the same time, global developments highlight the vulnerability of today’s energy systems, where dependence on transport through strategic bottlenecks and imports of fossil fuels can have significant consequences.

Against this background, the driving forces for energy resilience and energy independence are strengthening, especially in regions with high imports of fossil fuels, for example East Asia. Interest is increasing in technologies that enable flexible and local energy production, where different types of energy carriers may be necessary depending on availability and needs. This strengthens the long-term relevance of stand-alone energy solutions, including systems using PEM and solid oxide technology.

Outlook
Development during the quarter was in line with the strategy we have set forth, where our focus is on broadening the customer base, increasing test volumes and converting customer relationships into volume and system deals within our four main segments: energy, automotive, electronics and luxury products.

The system order secured after the end of the quarter is the result of the measures taken and the focus that has characterized the business over the past year. The completed share issue, which both strengthened our financial position and helped us continue developing the business, has been a prerequisite for this work.

We are now continuing to develop business opportunities within energy-related applications, with a strong focus on solid oxide technology, where we see growing market interest. In parallel, Coating Services contributes a stable revenue base, mainly from existing customers in PEM electrolysis and PEM fuel cells, while also providing a platform for developing new customer relationships for future system business.

Together with the lower cost level and measures to strengthen system margins, we have improved the conditions for reaching profitability as business volumes increase.

Jonas Nilsson, CEO

Presentation


Impact Coatings invites investors, analysts and the media to a presentation of this Interim Report on Wednesday, April 29 at 09:00 am (CEST). CEO Jonas Nilsson and CFO Lena Åberg will comment on the Interim Report and take questions. The presentation will held via webcast in English.

Impact Coatings publishes its Interim Report for the first quarter of 2026 on Wednesday April 29, at 08:00 a.m. (CEST). In reference to this, the company invites investors, analysts and the media to a webcast on the same day at 09:00 a.m. (CEST). Impact Coatings’ CEO Jonas Nilsson together with CFO Lena Åberg will present and comment on the Interim Report, and answer questions. The presentation will be held in English.

What: Presentation of Impact Coatings’ Q1 2026 Interim Report via webcast
Time: Wednesday April 29, at 09:00 a.m. (CEST)
Link to webcast: https://www.finwire.tv/webcast/impact-coatings/q1-2026/
 
The webcast in its entirety will afterwards be available on the company’s website www.impactcoatings.com.

Impact Coatings’ Annual Report for 2025 (in Swedish) is attached, and is available for download from the company’s website at www.impactcoatings.com/investors/financial-reporting.