Opcon: Interim Report October–December 2013

ÅMÅL, Sweden--()--Regulatory News:

Opcon (STO:OPCO):

FINANCIAL STATEMENT 2013

OPCON AB (PUBL), THE ENERGY AND ENVIRONMENTAL TECHNOLOGY GROUP

Further development of strategic collaboration in China, improved earnings and continued cost savings

  • Snowman in China becomes increasingly more important as customer, partner and owner
  • Net sales up 27% in Q4, SEK 69.8 million (55.1 m)
  • Reduced loss (EBIT) in Q4, SEK –25.7 million (–134.9 m)
  • Non-recurring costs impacted on earnings (EBIT) by a total of SEK –20.8 million in Q4
  • Operating loss in Q4 excluding non-recurring costs of SEK –4.9 million (–27.7 m)
  • Savings programme will cut annual costs by around SEK 30 million, of which around SEK 19 million in 2014

Q4, October-December 2013, remaining business

  • Net sales amounted to SEK 69.8 million (55.1 m)
  • Operating loss (EBIT) was SEK –25.7 million (–134.9 m)
  • Operating loss excluding non-recurring items was SEK –4.9 million (–27.7 m)
  • Loss after tax of SEK –26.4 million (–202.3 m)
  • Earnings per share SEK –0.08 (–1.54)

Q1-Q4, January-December 2013, remaining business

  • Net sales amounted to SEK 278.8 million (316.9 m)
  • Operating loss (EBIT) was SEK –52.7 million (–186.4 m)
  • Operating loss excluding non-recurring items was SEK –24.2 million (–79.2 m)
  • Loss after tax of SEK –64.1 million (–248.5 m)
  • Earnings per share SEK –0.19 (–1.89)

Important events after the end of the period

  • A directed placement of shares with Snowman of China reinforces the strategic collaboration and Opcon’s financial position. The Board has decided to place an issue of 30,000,000 new shares at SEK 0.57 per share with Hong Kong Snowman Technology Ltd., a wholly-owned subsidiary of listed Fujian Snowman Co. Ltd., Fuzhou, Fujian, China. Hong Kong Snowman Technology Ltd. has subscribed for the 30,000,000 shares, which will raise around SEK 17 million for Opcon after costs.

The information in this report is such that Opcon is obliged to disclose in accordance with Swedish securities markets law and/or Swedish law on trading in financial instruments. This information was released for publication on Friday 21 February 2014, at 08.30 (CET).

This information was brought to you by Cision http://news.cision.com

Contacts

Opcon
Rolf Hasselström, President and CEO
+46 8 466 45 00, +46 70 594 79 60
or
Niklas Johansson
deputy CEO, Investor Relations
+46 8 466 45 11, +46 70 592 54 53

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Contacts

Opcon
Rolf Hasselström, President and CEO
+46 8 466 45 00, +46 70 594 79 60
or
Niklas Johansson
deputy CEO, Investor Relations
+46 8 466 45 11, +46 70 592 54 53