The ordered coating machine will be integrated into a fully automatic production cell for injection molding and metallization of plastic components. The companies have an existing development cooperation. A production cell at Varioplast, with a coating machine from Impact Coatings, produces components for Volkswagen since 2014.
“It is very encouraging that Varioplast has chosen to order an additional coating machine from us,” said Petter Carlfjord, Sales Director at Impact Coatings. “It shows both that the customer is satisfied with us as a supplier and that our integrated production concept for injection molding and metallization of plastic components is successful.”
Delivery of the coating machine is planned for the beginning of 2019.
For more information contact:Peter Högfeldt, VP Marketing+46 708 87 44 34peter.hogfeldt@impactcoatings.se
Impact Coatings AB (publ) is required to disclose this information in accordance with EU market abuse regulations. The information was delivered, via the contact person named above, for publication on July 13, 2018, at 1:00 p.m. CET.
———————————————————–
China Hydrogen Energy
In October 2016, CHE entered into a commercial agreement with Impact Coatings for the purchase of 10 INLINECOATER™FC machines. CHE paid a deposit of EUR 240 000 in November 2016.
As reported in a press release dated September 25, 2017, CHE had communicated a delay to the order, due to a delay in the construction of its first production facility. Impact Coatings, as described in the Q1 report and in the materials presented at the 2018 Annual General Meeting, assessed the CHE order as still viable based on periodic discussions with the customer. The primary reason given to Impact Coatings for the delay was the ongoing discussions between CHE and a possible acquirer of a majority stake in CHE.
Impact Coatings conducted an on-location management review in China during July to assess the situation and to determine the viability of the agreement.
The conclusion of the review is that the most prudent and realistic approach is to treat the order as no longer valid.
Huaqing Power Technology
In October 2017, Impact Coatings received an order from Huaqing for six INLINECOATER™FC machines to be delivered during 2018 and 2019, in pairs over the course of three deliveries.
Huaqing communicated a delay to Impact Coatings, which was described in a press release dated January 31, 2018. In good faith, Impact Coatings attempted to support Huaqing in moving forward with its overall fuel cell program development, with the intention of securing the conditions for order fulfillment, even if delayed.
The Impact Coatings on-location evaluation described above also verified the historical development of the Huaqing relationship and assessed the likelihood of order completion based on current facts.
The conclusion of the analysis is that the most prudent and realistic approach is to treat the order as no longer valid.
Financial statement effects
Two machines have been produced in connection with the above orders and carried at cost as accrued revenue, with a combined value of SEK 15 158 000. One unit will be used in Coating Services production for fuel cell customers. The other unit will be booked at cost to finished goods inventory and will be available for sale.
The Coating Services machine will be reclassified as a production asset with a value of SEK 7 579 000. Future revenues and profit generated using the production machine, as well as its carrying value, will be recognized per customary accounting rules.
The second machine allocated for future sale in the fuel cell production industry will be reclassified as finished goods inventory with a value of SEK 7 579 000. If the machine is sold for more than this value, revenue and profit will be recognized. If the machine is sold for less than this value, or if the company determines that an impairment is justified in the future, a loss will be recognized.
During 2016 and 2017, SEK 15 158 000 has been recognized as revenue for the two machines combined, reflecting cost to Impact Coatings and no profit. Because the bookings are equivalent to operating income (revenue) from capitalized production for own account, there will be no restatement of recognized revenue for these periods.
Since both machines have been booked at cost with no profit recognition, and as they are both deemed current with respect to market activity and commercial demands, no write-down or other value impairment is currently planned.
The described reclassifications have no effect on cash flow.
The financial effects described above have been reviewed by the company’s auditor and will be included in the Q3 2018 financial report and September 30, 2018 balance sheet.
Impact Coatings remains committed to advancing the fuel cell industry in China and globally.
For more information, contact:Torbjörn Sandberg, CEOTel: +46 768 43 43 76 or e-mail: torbjorn.sandberg@impactcoatings.se
Impact Coatings AB (publ) is required to disclose this information in accordance with EU market abuse regulations. The information was delivered, via the contact person named above, for publication on July 12, 2018, at 2:00 p.m. CET.
—————————————————————-
I oktober 2016 ingick CHE ett kommersiellt avtal med Impact Coatings om köp av 10 stycken INLINECOATER™FC-maskiner. CHE gjorde en förskottsbetalning om 240 TEUR i november 2016.
Så som informerades i ett pressmeddelande den 25 september 2017 hade CHE meddelat en förskjutning av leveranserna på grund av att bygget av deras första produktionsanläggning blivit försenat. Så som beskrivits i delårsrapporten för första kvartalet och i materialet som presenterades på årsstämman 2018 bedömde Impact Coatings att ordern från CHE var fortsatt giltig baserat på återkommande dialog med kunden. Den främsta anledningen till förseningen som gavs Impact Coatings var pågående förhandlingar mellan CHE och en möjlig köpare av en majoritetsandel i CHE.
Impact Coatings har under juli månad genomfört en undersökning på plats i Kina, under överseende av bolagets ledning, för att utvärdera situationen och bedöma avtalets genomförbarhet.
Slutsatsen av denna undersökning är att det mest lämpliga och realistiska är att behandla ordern som ej längre giltig.
I oktober 2017 mottog Impact Coatings en order från Huaqing om 6 stycken INLINECOATER™FC-maskiner för leverans under 2018 och 2019. Leveranserna skulle ske i tre omgångar om två maskiner per gång.
Huaqing meddelade sedan en försening till Impact Coatings, som beskrevs i ett pressmeddelande den 31 januari 2018. I god tro har Impact Coatings försökt hjälpa Huaqing att komma framåt med den övergripande utvecklingen av sitt bränslecellsprogram, med avsikten att säkra orderns genomförande, även om den blivit försenad.
I samband med utvärderingen som genomförts i Kina, så som beskrivits ovan, har också den historiska utvecklingen i relationen till Huaqing genomlysts och sannolikheten för orderns slutförande har bedömts baserat på tillgängliga fakta.
Slutsatsen av analysen är att det mest lämpliga och realistiska är att behandla ordern som ej längre giltig.
Redovisningseffekter
Två maskiner som har tillverkats i samband med de ovan nämnda orderna har löpande redovisats under rubriken Upparbetad men ej fakturerad intäkt med ett sammanlagt värde av 15 158 TSEK. En enhet kommer att användas för produktion till bränslecellskunder. Den andra enheten kommer att bokföras som lager färdiga maskiner och finnas tillgänglig för försäljning.
Maskinen som används i beläggningsproduktion, kommer att omklassificeras till produktionsmaskin med ett värde av 7 579 TSEK. Framtida intäkter och vinster som uppkommer genom användandet av denna maskin liksom dess faktiska värde kommer att redovisas i enlighet med vedertagna redovisningsregler.
Maskin nummer två, som är tänkt för försäljning till bränslecellsindustin, kommer att omklassificeras till lagertillgång till ett värde av 7 579 TSEK. I det fall maskinen säljs för ett värde överstigande detta värde, kommer omsättning och vinst på försäljningen att redovisas. I det fall maskinen säljs för mindre än detta värde, eller om företaget i framtiden beslutar om en nedjustering av värdet, kommer en förlust att redovisas.
Under år 2016 och 2017 har totalt 15 158 TSEK redovisats som intäkt för dessa maskiner, vilket återspeglar Impact Coatings kostnader och inte innehåller någon vinst. Eftersom transaktionerna i redovisningstermer är att betrakta som aktiverade kostnader för egen räkning, kommer ingen ändring av redovisade intäkter att ske för dessa perioder.
Eftersom båda maskinerna har balansförts till ett värde som motsvarar tillverkningskostnaderna och inte innehåller någon vinst, och eftersom båda bedöms som fullvärdiga tillgångar med hänsyn till marknadsaktiviteter och affärsmässig efterfrågan, planeras för närvarande inga nedskrivningar eller andra omvärderingar.
De ovan beskrivna omklassificeringarna innebär ingen kassaflödeseffekt.
De redovisningsmässiga effekterna av de åtgärder som beskrivits ovan har granskats av företagets revisor och kommer att beskrivas i sin helhet i kvartalsrapporten för tredje kvartalet 2018 och balansräkningen per den 30 september 2018.
Impact Coatings fortsätter med tydligt fokus att bearbeta bränslecellsindustrin i Kina och globalt.
För mer information kontakta:Torbjörn Sandberg, VDTel: 0768-43 43 76 eller e-mail: torbjorn.sandberg@impactcoatings.se
Denna information är sådan information som Impact Coatings AB (publ) är skyldigt att offentliggöra enligt EUs marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 12:e juli 2018, kl. 14:00 CET.
————————————————————————-
Impact Coatings har ingått avtal med Redeye AB avseende tjänsten som Certified Adviser. Redeye AB tillträder som Certified Adviser den 1 juli 2018. Fram till dess kommer Remium att fortsatt agera Certified Adviser åt bolaget.
För mer information kontakta:Anders Nilsson, CFO+46 702 59 28 76anders.nilsson@impactcoatings.se
Impact Coatings has entered into an agreement with Redeye AB regarding the role of Certified Adviser. Redeye AB will be Certified Adviser from 1 July 2018. Until then, Remium will continue as Certified Adviser to the company.
For more information contact:Anders Nilsson, CFO+46 702 59 28 76anders.nilsson@impactcoatings.se
————————————————————-
Torbjörn Sandberg who starts 28 May 2018 has been CEO for, among others, Sensys Gatso Group AB (publ), Birdstep Technology ASA (publ), Netadmin Systems, and ServiceFactory.
“Tobjörn Sandberg has achieved significant results in companies through both growth and restructuring. Torbjörn Sandberg has expertise in organizational development, business processes, sales strategy and capital markets. We welcome Torbjörn Sandberg and his leadership, which will secure the next phase in Impact Coatings’ development,” said Mark Shay, Chairman of the Board.
The target is to recruit a permanent CEO during this calendar year.
“I am pleased to join Impact Coatings during this important phase in the company’s journey from technology innovator to industrial supplier of world-class coating solutions for fuel cells, reflectors, radar emblems, and consumer products,” said Torbjörn Sandberg, continuing:
“The company has a strong team in Linköping, Japan and China. We can quickly establish sales and customer service continuity, as well as tune the organization to achieve the company’s significant potential.”
Impact Coatings founder and CEO Henrik Ljungcrantz is leaving the company on 27 May 2018 in accordance with his employment agreement. The agreed notice period and severance pay duration amount to 12 months.
“Dr. Ljungcrantz has pioneered PVD coating technology whose process and end-products contribute to a cleaner and more sustainable environment. For example, Ceramic MAXPHASE coating for metal bipolar plates in fuel cells has the potential to be a must-have component for industrial-scale fuel cell stack production. The board therefore wishes to thank Dr. Ljungcrantz for his unique and lasting contributions to Impact Coatings,” said Mark Shay.
“Our coating solutions are highly regarded across multiple industry segments. They are under evaluation or already in production at some of the world’s leading automotive suppliers, auto OEM’s, and consumer products companies,” said Mark Shay.
For more information, contact:
Mark H. Shay, CFAChairman of the BoardTel: +46 765 96 62 38 or e-mail: mark@accendofund.com
Impact Coatings AB (publ) is required to disclose this information in accordance with EU market abuse regulations. The information was delivered, via the contact person named above, for publication on 27 May 2018, 9:00 p.m. CET.
——————————————————————————
Torbjörn Sandberg som tillträder den 28 maj har varit vd för bland andra Sensys Gatso Group AB (publ), Birdstep Technology ASA (publ), Netadmin Systems och ServiceFactory.
”Torbjörn Sandberg har åstadkommit betydande resultat i bolag genom både tillväxt och omstrukturering. Torbjörn Sandberg har expertis inom organisationsutveckling, affärsprocesser, försäljningsstrategi och kapitalmarknaden. Vi välkomnar Torbjörn Sandberg och hans ledarskap, som ska trygga nästa fas i Impact Coatings utveckling”, säger styrelseordförande Mark Shay.
Målet är att finna en permanent vd under innevarande år.
”Det gläder mig att börja på Impact Coatings i denna viktiga fas i bolagets resa från teknologisk innovatör till industriell leverantör av beläggningar i världsklass för bränsleceller, reflektorer, radomer och konsumentprodukter”, säger Torbjörn Sandberg och fortsätter:
”Företaget har ett starkt team i Linköping, Japan och Kina. Vi kan omedelbart etablera kontinuitet i försäljningen och kundservicen samt trimma organisationen för att fullt nyttja bolagets betydande potential.”
Impact Coatings grundare och vd Henrik Ljungcrantz lämnar bolaget den 27 maj 2018 i enlighet med sitt anställningsavtal. Den avtalade uppsägningstiden och avgångsvederlaget uppgår sammantaget till tolv månader.
”Dr. Ljungcrantz är en pionjär inom PVD-beläggningar vars metodik och slutprodukter bidrar till en renare och mer hållbar miljö. Till exempel har beläggningen Ceramic MAXPHASE för bipolära metallplattor i bränsleceller en potential att bli nödvändig för produktion av bränslecellsstackar i industriell skala. Styrelsen vill därför tacka Henrik Ljungcrantz för sina unika och varaktiga bidrag till Impact Coatings”, säger Mark Shay.
”Våra beläggningar har högt anseende inom flera industrisegment. De utvärderas och är redan i produktion hos några av världens ledande leverantörer till fordonsindustrin, fordonstillverkare och tillverkare av konsumentprodukter”, säger Mark Shay.
För mer information kontakta:
Mark H. Shay, CFAStyrelseordförandeTel: +46 765 96 62 38 eller e-mail: mark@accendofund.com
Denna information är sådan information som Impact Coatings AB (publ) är skyldigt att offentliggöra enligt EUs marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 27:e maj 2018, kl. 21.00 CET.
——————————————————————————————————–
The AGM decided, among other items:
To approve the 2017 income statement and balance sheet as proposed by the board of directors.
To allocate the annual result according to the board of directors’ proposal, meaning that unrestricted shareholders’ equity of SEK 80 152 310.18 is carried forward.
Release from liability the board of directors and CEO.
A board of directors was elected comprising Mark Shay (Chairman), Jan-Eric Sundgren, Chrisian Sahlén, Lars-Gunnar Skötte and Tanja Vainio.
The nominating committee’s proposal of a new procedure for constituting the next nominating committee was approved.
Decision on new phrasing in the articles of incorporation § 8 where time of day regarding registration date is removed.
Decision on new phrasing in the articles of incorporation § 9, Annual general meeting as well as other shareholder meetings can in addition to Linköping be held in Stockholm.
Grant the board of directors authority to decide on the repurchase and transfer of company shares.
Grant the board of directors authority to decide on issuance of equity and/or options and/or convertible instruments.
Grant the board of directors authority to make minor adjustments regarding decisions of the AGM in conjunction with registration at the Swedish corporate registry (Bolagsverket) and Euroclear Sweden AB.
For more information, please contact:Henrik Ljungcrantz, CEOTel. +46-706-63 55 80, or e-mail henrik.ljungcrantz@impactcoatings.se.
———————————————————-
På årsstämman beslutades bland annat:
Att fastställa av styrelsen föreslagen resultat- och balansräkning för 2017.
Att disponera årets resultat i enlighet med styrelsens förslag medförande att ett fritt eget kapital, inklusive årets resultat, om 80 152 310,18 SEK överförs i ny räkning.
Om ansvarsfrihet för styrelseledamöter och verkställande direktör.
Till ny styrelse valdes Mark Shay, Jan-Eric Sundgren, Christian Sahlén, Lars-Gunnar Skötte samt Tania Vainio.
Valberedningens förslag till ny procedur för att utse kommande valberedning antogs.
Beslut om ny lydelse i bolagsordningens § 8 där klockslag under anmälningsdagen tas bort.
Beslut om ny lydelse i bolagsordningens § 9, Årsstämma liksom annan bolagstämma, skall förutom i Linköping även kunna hållas i Stockholm.
Bemyndigades styrelsen att fatta beslut om att förvärva och överlåta egna aktier.
Bemyndigades styrelsen att fatta beslut om nyemission av aktier och/eller emission av teckningsoptioner och/eller konvertibler.
Bemyndigades styrelsen att företa smärre justeringar av beslut fattade vid stämman i samband med registrering hos Bolagsverket och Euroclear Sweden AB.
För mer information kontakta:VD Henrik Ljungcrantz, tel. 0706-63 55 80, eller e-mail henrik.ljungcrantz@impactcoatings.se.
Denna information är sådan information som Impact Coatings AB (publ) är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning och lagen om värdepappersmarknaden. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 17 maj 2018, kl. 16.30 CET.
———————————————
· Coating production to Michelin’s fuel cell manufacturing · Delayed delivery to Huaqing Power Technology (China)
FINANCIAL RESULTS FIRST QUARTER 2018
· Net sales amounted to SEK 7 141 thousand (18 451) · Operating profit amounted to SEK -6 102 thousand (-404) · Net income after financial items amounted to SEK -6 121 thousand (-406) · Cash flow amounted to SEK -3 766 thousand (-12 159) · Equity-to-assets ratio amounted to 88,9% (69,3)
CEO’S COMMENTARY
During the period, we have continued working on our intensified efforts primarily in the Chinese fuel cells market, but also in greater Asia, Europe and North America.
We see a continued strong interest in our offering and we receive increasing evidence that we have the best fuel cell coating on the market. This is based on verifications we receive from auto manufacturers that test our coatings.
Important European order Interest is greatest in the Chinese market and it is there things are moving quickest. We see, however, an increased interest even in the European market, highlighted by the order from Michelin regarding production of Ceramic MAXPHASE™-coatings on fuel cell plates for their fuel cell manufacturing. The Michelin order is small but important, giving us tailwinds in discussions with other players in Europe as well as Asia.
We also see a high interest from the European auto industry for our coating systems for vehicle reflectors.
Long lead times It takes time, however, for discussions and verifications to become concrete business deals. International auto manufacturers have lead times of five to seven years from the start of a new model development program to the start of production. In the Chinese market the time is shorter, but it involves in any case a couple of years.
The market suffers at times from long lead times to produce newly constructed metal plates for fuel cells, i.e., the plates that we coat. It can take four to twelve months from drawing board to delivery. Several producers of metal plates are addressing this problem and are working to reduce the lead times.
With respect to China, it has been relatively calm during the beginning of the year. It is normally difficult to close deals in China during the start of the year. The Chinese New Year falls in the middle of our first quarter, and causes a calm period both before and after.
Due to the above factors, we have not been able to report any larger order during the quarter. As we reported in January, we have even received certain delays to the delivery of coating systems to the Chinese fuel cell manufacturer Huaqing Power Technology.
Clearer business approach During the start of the year, we have worked on creating a clearer business approach with respect to our customers, to avoid negative surprises in new markets.
The approach entails that orders are not considered valid until pre-payment has been made, a Letter of Credit is issued, or the payment in some other way has been secured. Orders shall include only those coating systems meant for delivery near-term and for which customers have verified payment through pre-payment or where the payment is otherwise secured.
Demo center and sales initiatives During the period, we have begun our initiatives on marketing and sales, including development of a demo center.
The planned work toward creating a representative demo center in Linköping has begun. We are building two machines, one to demonstrate coating of fuel cell plates and one for vehicle reflectors. The machines can also be delivered to customers in the event a fast turnaround is needed.
We have during the period strengthened the marketability of our offering and begun recruiting personnel to strengthen our sales capability. We have even streamlined our branding strategy and henceforth will market all of our coating machines under the product family name INLINECOATER™ and our coating processes under the product family name MAXPHASE™.
Our partner and distributor Optorun is intensifying its work to achieve the goals of our agreement. The Japanese company has during the quarter initiated a recruiting process to further strengthen the sales team and thereby increase sales of our coating systems.
With these actions and activities in place, we see a bright future ahead.
Linköping 2018-04-20Henrik Ljungcrantz, CEO Impact Coatings
Net sales during the period amounted to SEK 7 141 thousand (18 451). Operating expenses amounted to SEK -13 243 thousand (18 855). Operating profit before depreciation and other operating expenses amounted to SEK -6 102 thousand (-404). Operating profit before tax amounted to SEK -6 121 thousand (-406). Cash flow amounted to SEK -3 766 thousand (-12 159).
As in previous years’ reporting, no provision for deferred tax assets has been made.
Financial position and liquidityLiquid assets amounted to SEK 61 620 thousand (9 988) at the end of the period. Work in progress not yet invoiced (accrued revenue) amounted to SEK 12 983 thousand (10 280) at the end of the period. Corresponding invoiced, not completed revenue (deferred revenue) amounted to SEK 9 778 thousand (1 842).
Equity-to-assets ratio amounted to 88,9% (69,3).
Cash flow from operations during the period amounted to SEK -3 696 thousand (-12 159).
Cash flow from financing amounted to SEK -70 thousand (0). Total cash flow for the period was SEK -3 766 thousand (-12 159).
SALES AND MARKET
In conjunction with the fuel cell conference FC Expo held in Tokyo in February, we launched INLINECOATER™FC for the Asian market. The coating system is significantly improved in terms of productivity and is optimized for coating fuel cell plates in volume production. The launch will continue during the Hannover Messe to be held 23-27 April 2018.
The cooperation with Optorun continues with work ongoing for existing as well as new potential customers. With support from Impact Coatings in Sweden, customer offerings are being shaped that meet market demands of advanced coating systems.
During the recent quarter, Optorun has started the recruiting process to further strengthen the sales team in order to intensify sales of Impact Coatings coating systems, and achieve the agreed goals in the cooperation agreement. Optorun has recently completed a successful IPO and is now listed on the Japanese stock exchange.
Below we describe the status in the market segments where Impact Coatings is primarily focusing: Fuel Cells and Reflectors. The company also is working actively in Metallization/Decorative coatings and Electrical contacts.
As a step toward focusing the marketing of coating systems and coatings, partly new product names were launched during the quarter. All of the company’s coating systems now fall under the product family name INLINECOATER™.
Fuel cellsHuaqing Power Technology has had to delay their start of production. As announced earlier via press release, this implies the delivery of the agreed coating system is pushed forward.
China Hydrogen Energy, to which our deliveries have been delayed, is in negotiations with a larger player that is planning to take a majority ownership stake in the company. These negotiations are ongoing, and when they are complete a new timeplan for production and delivery of Impact Coatings coating systems will be agreed.
Telos Auto, with which Impact Coatings has a cooperation agreement, is planning to migrate to metal fuel cell plates. Impact Coatings is now coating plates from Telos Auto on a testing basis for verification of Ceramic MAXPHASE™ in their fuel cell system.
Impact Coatings has delivered coated plates in accordance with a disclosed order to a leading East Asian auto manufacturer. The time plan is aggressive and all parties involved are working together to evaluate the coating as quickly as possible.
Fuel cell production for Michelin has started at Impact Coatings’ facility in Linköping. The work comprises the starting phase of a process through which Michelin will be able to deliver its first fuel cell system to customers. Volumes are expected to increase over time.
Symbio FCell has also received coatings from Impact Coatings during the period.
The number of potential customers has increased following the FC Expo in Tokyo, which is the world’s largest fuel cell conference. At the moment, we are following up contacts with prospective customers through their visiting Impact Coatings in Linköping, and production for evaluation of coatings is starting. Several of these potential customers need scalable production lines for coatings within the near future.
Reflectors Impact Coatings sees a continued increasing interest from the automotive industry in our coating system for reflectors. Above all, the possibility of integrating Impact Coatings’ system in the production flow is generating interest. The company is negotiating with several reflector producers, which in turn deliver to auto manufacturers.
Impact Coatings has during the period developed a new application regarding coating of radar emblems. Radar emblems are a fundamental component in an application that is integrated in cars to increase safety through avoidance of pedestrians, obstacles, or other vehicles. The radar is placed behind the emblem in the car’s grill and the emblem therefore needs to have a special transparent coating. Impact Coatings has a competitive technology to coat radar emblems, and the market and customers are principally the same as for reflectors.
RESEARCH & DEVELOPMENT
Impact Coatings’ strategy is to be the leading player in its chosen segments. R&D is therefore a priority.
We continue therefore our work with improving the efficiency of the coatings required for delivering world-leading niche products. Additional projects have therefore commenced to develop the next generation of coatings and coating systems.
Impact Coatings’ development work is also focusing on supporting the manufacturing and ”productification” of the coating machines. There is also an emphasis on supporting the sales organization through focused development and testing within the prioritized market segments, Reflectors and Fuel Cells.
PRODUCTION
The coating operations that take place in Impact Coatings’ facilities in Linköping have an increased responsibility now to support sales of coating systems. It is a clear advantage to be able to deliver customer samples quickly and with high quality, support the customer’s development and deliver pre-production smaller series, not least within the Fuel Cells market segment.
The company also continues to develop pure subcontracting services in the different market segments. Coating of fuel cell plates is now the largest application and is expected to increase during 2018 and 2019. Among others, production of coatings of fuel cell plates for Michelin has started during the quarter.
The coating machine being produced for Borit NV and developed under the EuroStar project Pro-FC will be ready for testing during April. The machine will first run at Impact Coatings’ facilities to tune the coating processes. Afterwards, we expect the machine to be moved to Borit’s own production environment during the third quarter this year.
Production of the coating machine for Xin Point is proceeding according to plan and will in June be shipped from Sweden to Xin Point in China.
Production of two demonstration machines has begun.
Linköping 2018-04-20 Henrik LjungcrantzCEO
AUDITOR’S REVIEW AND ACCOUNTING PRINCIPLES
This interim report has not been subject to auditor review.
UPCOMING FINANCIAL EVENTS
Annual general meeting: 17 May 2018
Interim report for the second quarter 2018: 17 August 2018
Interim report for the third quarter 2018: 26 October 2018
Year-end report for 2018: 15 February 2019
For more information contact: Henrik Ljungcrantz, CEO Tel: +46 70-663 55 80
Impact Coatings AB (publ) is required to disclose this information in accordance with EU market abuse regulations. The information was delivered, via the contact person named above, for publication on 20 April 2018, 08:00 CET.
———————————————————————————————-
We use cookies to improve your user experience and to collect information about your visit. You can read more about our cookies and change your settings here. Read more
Cookies save information about how you use the website, data that can be reused. Read more
Necessary for the website to function.
Read more
These cookies are necessary for our website to function and therefore cannot be turned off. They are used, for example, when you set personal preferences, log in or fill out a form. You can set your browser to block or warn you about these cookies, but some parts of the website will not work then.
close-cookie-bar
wants-ec-cookies
wants-fc-cookies
wants-mc-cookies
wants-ac-cookies
Measures user patterns and creates statistics.
These cookies allow us to count the number of visits and traffic sources so that we can measure and improve our website. The information these cookies collect is completely anonymous. If you do not allow these cookies, we will not know when you have visited our website.
_ga_LWPJB5WV5Z
_ga
__hssc
__hssrc
__hstc
hubspotutk
_cfuvid