CEO’S COMMENTARY

The company entered 2019 with the strategy to establish a position among leading companies in the fuel cell (FC) segment and to re-focus our efforts on the decorative, metallization and reflector (DMR) segments. We have executed well on this strategy and enter 2020 well-positioned for further success.

As the year progressed, partnering with Hyundai became our primary objective, requiring extraordinary efforts from the organization that were ultimately successful. One of the world’s largest auto manufacturers investing in and partnering with Impact Coatings is a testament to our expertise and professionalism in the field of fuel cell coatings, but it also has relevance for other automotive industry applications. The relationship gives us immediate access to industrial competence and credibility vis á vis other automotive customers.

Interest among most potential customers in the DMR segments remains, despite system orders not reaching our expectations in 2019, which will have a negative effect on revenue during the first half of 2020. Our focus on DMR has resulted in a strategic order at the beginning of the new year: Zanini Auto Group ordered a coating system for radar-transparent automotive emblems, also called radomes. Radomes are one of several plastic components in new safety functions for vehicles, “Internet of Things” (IoT) and 5G that require cost-effective coating solutions. We are following these developments carefully and are working with customers in their development of effective production solutions.

The company has developed well financially, even if there is much left to do. Sales for the full year 2019 reached almost SEK 50 million, the highest in the company’s history, while the operating profit is still negative – an indication that we have work yet to be done with sales and additional efficiency in production before we reach profitability. We have during the latter part of 2019 reduced our running costs and have clearly tightened working capital management. The whole team has a more financial mindset now in every work task.

We built and shipped four coating systems during 2019, of which one system was installed at the customer site during the first days of the new year. Among the four delivered systems are the first delivery in the fuel cell segment. The Coating Services business grew and achieved good margins. With respect to both Coating Services and system sales, structuring and industrialization of the operations have created capacity for increased future production. The company was awarded ISO 9001 certification during the year and is working continuously with quality, efficiency, and reducing lead times.

Beyond the capital inflow of ca SEK 65 million, the directed share issue carried through in the fourth quarter gives Impact Coatings two stable owners: a global industrial owner in Hyundai Motor Company with just over 10% of shares and an active financial owner in Accendo Capital with 12%. The attention connected with the transaction has also contributed to the addition of approximately 1000 new shareholders. I would like to offer you all a warm welcome to Impact Coatings.

Finally, if 2018 was characterized by restructuring, cleaning up the business and a changed strategy, then our progress in 2019 is illustrated by implementing the strategy, strengthened commercial processes, and strict financial management and internal controls. Impact Coatings enters 2020 well-prepared for growth and for the next phase in our industrialization process together with our partner Hyundai.

Torbjörn Sandberg 
 

The full year-end report is attached, and can be retrieved on the company’s website at www.impactcoatings.com/finansiella-rapporter-arkiv/.
 

For more information contact:

Torbjörn Sandberg, CEO
Tel: +46 (0)768-43 43 76

Marie Dhayer Teikmans, CFO
Tel: +46 (0)70-812 71 96

E-mail: investors@impactcoatings.se

The information was delivered, via the contact persons named above, for publication on February 14, 2020, at 08:00 a.m. CET.

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IMPACT COATINGS AB - YEAR-END REPORT 2019

Ordet “radom” används för det radartransparenta väderskyddet kring en radarantenn. Dagens nya bilar använder radar för säkerhetssystem som hjälper föraren (advanced driver-assistance systems ‒ ADAS). En fordonsradar är ofta placerad bakom frontens emblem, i stötfångaren, integrerad i bilens sidobackspeglar eller i andra plastkomponenter. En radom i form av ett radartransparent emblem tillåter signalen att passera med låg dämpning.

För mer information kontakta:

Torbjörn Sandberg, VD
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

Denna information är sådan information som Impact Coatings AB (publ) är skyldigt att offent-liggöra enligt EUs marknadsmissbruksförordning. Informationen lämnades, genom ovanstå-ende kontaktpersoners försorg, för offentliggörande den 17 januari 2020, kl. 16:00 CET.

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 The term “radome” refers to radar-transparent antenna covers. Today’s new cars use radar in safety systems that support the driver (advanced driver-assistance systems ‒ ADAS). An automotive radar is often placed behind the front brand emblem, in bumpers, or integrated into side view mirrors or other plastic parts. A radome in the form of a radar-transparent emblem allows signal to pass through the emblem with low attenuation.

For more information contact:

Torbjörn Sandberg, CEO
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

Impact Coatings AB (publ) is required to disclose this information in accordance with EU mar-ket abuse regulations. The information was delivered, via the contact persons named above, for publication on January 17, 2020, at 4:00 p.m. CET.

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De nya aktier som tecknats av Hyundai Motor Company och Accendo Capital SICAV SIF har nu registrerats av Bolagsverket. Det totala antalet utestående aktier och röster i Impact Coatings AB har som följd därav ökat med 9 257 143.

Per den 30 december 2019 uppgår det totala antalet aktier respektive röster i Impact Coatings AB till 51 809 051.

Under december har 800 000 teckningsoptioner som innehafts av Accendo Capital SICAV SIF löpt ut utan att ha konverterats.

Offentliggörande av information rörande förändringar av antal utestående aktier och röster är frivilligt för emittenter noterade på Nasdaq First North Growth Market.
 

För mer information kontakta:

Torbjörn Sandberg, VD
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 30 december 2019, kl. 17:30 CET.

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The new shares subscribed by Hyundai Motor Company and Accendo Capital SICAV SIF are now registered with the Swedish Companies Registration Office. As a result, the number of outstanding shares and votes in Impact Coatings AB has increased by 9,257,143.

As of December 30, 2019, the total number of shares in Impact Coatings AB amounts to 51,809,051 with an equal number of votes.

During December, 800,000 warrants held by Accendo Capital SICAV SIF expired.

Publication of information regarding changes in number of outstanding shares and votes is voluntary for issuers listed on the Nasdaq First North Growth Market.
 

For more information contact:

Torbjörn Sandberg, CEO
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

The information was delivered, via the contact persons named above, for publication on December 30, 2019, at 5:30 p.m. CET.

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Sydkorea, Japan, Tyskland och andra industriländer investerar kraftigt i vätgasteknologi, ett komplement till batterier och i många avseende en mer komplett lösning för elektrifiering på global nivå. Vätgas, som omvandlas till elektricitet i bränsleceller, används för transporter, industri, el och värme för hushåll och för en rad andra områden. Både Sverige och Sydkorea har teknikbolag som ligger i framkant inom denna teknikutveckling.

Avsiktsförklaringen, som är icke bindande och saknar definierat ekonomiskt värde, följer på det gemensamma utvecklingsavtal mellan parterna som meddelades den 30 oktober 2019. Avsiktsförklaringen stärker relationen mellan bolagen och har ett viktigt symbolvärde mot bakgrund av de starka diplomatiska och ekonomiska förbindelserna mellan Sydkorea och Sverige, förbindelser som firar 60 år av framsteg under 2019.

Signeringen skedde i samband med att statsminister Stefan Löfven och utrikeshandelsminister Anna Hallberg besöker Seoul tillsamman med en stor delegation från svenskt näringsliv. Hyundai representerades av Young Woon Kong, President för Hyundai Motor Group Strategy Planning Division, och Soon Chan Park, Vice President för Hyundai Motor Fuel Cell Business Group. Från Impact Coatings närvarade styrelseordförande Mark Shay och försäljningschef Will Wright.

“Partnerskapet mellan Hyundai och Impact Coatings kommer vid en viktig tidpunkt för vätgasenergins utveckling, där regeringar runt om i världen tillkännager sina länders vätgasplaner och industrins spelare tävlar om att vara marknadsledande,” sade Soon Chan Park, Vice President för Hyundai Motor Fuel Cell Business Group. “Jag tror att samarbetet mellan våra två företag kommer att bidra till att vitalisera det tekniska utbytet mellan Korea och Sverige.”

”De starka band som knutits mellan Sverige och Sydkorea under sextio år avspeglas i den resa som Impact Coatings och Hyundai nu påbörjar för att utveckla bränslecellsbeläggningar och vätgasteknik. Vi har ett gemensamt fokus på innovation och omställningen till ren energi, inte bara i våra länder utan för hela världen”, sade Impact Coatings styrelseordförande Mark Shay.

För mer information kontakta:

Torbjörn Sandberg, VD
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 18 december, 2019, kl. 11:00 CET.

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MoU signing ceremony in Seoul

South Korea, Japan, Germany and other industrial nations are investing heavily in hydrogen technology, a complement to batteries, and in many ways a more comprehensive solution for electrification globally. Hydrogen energy is adopted for transportation, industry, stationary heat end power, and for many other areas. Both Sweden and South Korea have technology companies that are in the forefront of this technology development.

The MoU, which is non-binding and has no defined economic value, follows a Joint Development Agreement between Impact Coatings and Hyundai announced on October 30, 2019. The MoU strengthens the relationship between the two companies and holds important symbolic value in light of the strong diplomatic and economic relations between South Korea and Sweden, which celebrate 60 years of progress during 2019.

The signing ceremony took place during the visit to Seoul by the Swedish Prime Minister Stefan Löfven and the Minister for Foreign Trade Anna Hallberg, together with a large delegation of Swedish business leaders. Hyundai was represented by President Young Woon Kong of Hyundai Motor Group Strategy Planning Division, and Vice President Soon Chan Park of Hyundai Motor Fuel Cell Business Group. Attendees from Impact Coatings were Chairman of the Board Mark Shay and VP of Sales Will Wright.

“The partnership between Hyundai and Impact Coatings comes at an important time for hydrogen energy, with governments around the world announcing hydrogen roadmaps and market players competing to take the lead,” said Vice President Soon Chan Park of Hyundai Motor Fuel Cell Business Group. “I believe that the collaboration between our two companies will help vitalize technological exchange between Korea and Sweden.”

“Mirroring the strong ties between Sweden and South Korea over the past sixty years, Impact Coatings and Hyundai are jointly embarking on a journey to develop fuel cell coating and hydrogen energy technology. We are together focused on innovation and the migration to clean energy, not just in our two home countries but around the world,” said Mark Shay, Chairman of Impact Coatings.

For more information contact:

Torbjörn Sandberg, CEO
+46 768 43 43 76

Peter Högfeldt, VP Marketing
+46 708 87 44 34

E-mail: investors@impactcoatings.se

The information was delivered, via the contact persons named above, for publication on December 18, 2019, at 11:00 a.m. CET.

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MoU signing ceremony in Seoul 2

If any of the three largest shareholders decides not to exercise the right to appoint a representative on the nomination committee, the right is passed on to the next largest shareholder. The nomination committee consists of:

  Kai Tavakka, Chairman, appointed by Accendo Capital SICAV SIF
  Syafiq Johari, appointed by Hyundai Motor Company
  Torsten Rosell, own representation
  Mark Shay, Chairman of the Board

The AGM will be held in Linköping on May 14, 2020. The proposals of the nominating committee will be published in the invitation to the AGM and will be made available on the company web site, www.impactcoatings.com.

Shareholders who wish to submit proposals to the nomination committee may do so via e-mail to investors@impactcoatings.se no later than February 1, 2020.
 

For more information, contact:

Peter Högfeldt, VP Marketing
Tel: +46 708 87 44 34

E-mail: investors@impactcoatings.se
 

The information was delivered, via the contact person named above, for publication on November 22, 2019, at 11:30 a.m. CET.

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För det fall någon av de tre största aktieägarna väljer att avstå från sin rätt att utse representant i valberedningen, övergår rätten till den aktieägare som därnäst har det största aktieinnehavet. Valberedningen består av:

  Kai Tavakka, ordförande, utsedd av Accendo Capital SICAV SIF
  Syafiq Johari, utsedd av Hyundai Motor Company
  Torsten Rosell, egen representation
  Mark Shay, styrelseordförande

Impact Coatings årsstämma kommer att äga rum i Linköping den 14 maj 2020. Valberedningens förslag publiceras i samband med kallelsen till årsstämman samt kommer att finnas tillgängliga på bolagets hemsida, www.impactcoatings.com.

Aktieägare som önskar lämna förslag till valberedningen kan göra det per e-post till
investors@impactcoatings.se senast den 1 februari 2020.
 

För mer information kontakta:

Peter Högfeldt, VP Marketing
Tel: +46 708 87 44 34

E-mail: investors@impactcoatings.se
 

Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 22 november 2019, kl. 11:30 CET.

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På den extra bolagsstämman beslutades:

Att godkänna den av styrelsen beslutade riktade nyemission till Hyundai Motor Company och Accendo Capital SICAV SIF.

Att utöka antalet styrelseledamöter från fem till sex i enlighet med styrelsens förslag, samt att till ny styrelseledamot välja Dr. Sukhwan Yun.

Att den nya styrelseledamoten ska ha rätt till ett årligt arvode om 180 000 kronor vilket motsvarar det arvode som övriga styrelseledamöter erhåller.

För mer information kontakta:

Mark H. Shay, CFA
Styrelseordförande
Tel. +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 22 november 2019, kl. 11:00 CET.

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