August 20th 2021

Interim report: Production start approaching as planned

Significant events

Q2: April–June 2021

  • The annual general meeting elected Carol Browner, Elaine Weidman-Grunewald and Hans-Ola Meyer as new Board members, and Bo Dankis, Hicham Bouzekri, Kent Janér, Pär Nuder and Bertil Villard were re-elected. Bo Dankis was also appointed Chairman of the Board.
  • The Swedish Energy Agency and Business Sweden selected Azelio for Accelerator programmes in India and Indonesia. Membership in the programmes provides Azelio with a unique opportunity to establish partnerships and grow in two of the world’s most attractive markets for renewable energy.
  • An extraordinary general meeting on 18 June resolved to adopt a long-term incentive programme for the Board.
  • A MOU was signed with MMR Constructors, with the aim of developing projects combining TES.POD with solar PV to supply customers with renewable energy around-the-clock. The collaboration aims at an installed capacity of 250 MWh by 2027, starting with a small-scale installation in 2022.

Events after the end of period

  • In August, Azelio received a conditional order from Engazaat Development S.A.E. on 20 units of Azelio’s TES.POD® renewable energy storage units. The order, which is conditional on, apart from the usual project items, the ongoing techno-economic feasibility study for this specific project, has a value of approx. USD 1.5 million and is expected to be delivered in December 2021

Group financial development

Q2: April–June 2021

  • Net sales amounted to kSEK 629 (330)
  • Operating profit/loss (EBIT) amounted to kSEK -99,938 (-48,414). As a result of the start of commercialisation, the company began to write off development costs, which entailed an increase in depreciation and amortisation to kSEK -33,419 (-5,322)
  • Earnings per share before and after dilution totalled SEK -0.87 (-0.53)
  • Profit/loss for the period amounted to kSEK -100,289 (-48,583)
  • Cash flow amounted to kSEK -117,010 (-68,960)
  • Cash and bank balances amounted to kSEK 714,415 (224,200)

Half year: Jan–Jun 2021

  • Net sales amounted to kSEK 726 (458)
  • Operating profit/loss (EBIT) amounted to kSEK -164,671 (-93,404) after depreciation and amortisation of kSEK -37,769 (-10,247)
  • Earnings per share before and after dilution totalled SEK -1.49 (-1.04)
  • Profit/loss for the period amounted to kSEK -165,348 (-93,652)
  • Cash flow amounted to kSEK 381,902 (168,502)
  • Cash and bank balances amounted to kSEK 714,415 (224,200)

For more information, please contact

Jonas Eklind – CEO
Email: jonas.eklind@azelio.com
Tel: +46 709 40 35 80

Fredrik Wäppling – CFO
Email: fredrik.wäppling@azelio.com
Tel: +46 709 91 12 34

This disclosure contains information that Azelio AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20 August 08:00 CEST, 2021.

Azelio is a Swedish cleantech company. We have developed an ingenious long duration energy storage technology, providing dispatchable electricity and usable heat for all hours of the day – with zero emissions and at a very competitive cost.

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Contact information

Azelio
Lindholmsplatsen 1
417 56 Gothenburg
Sweden

Phone: +46 532 100 20

Email: info@azelio.com

© Azelio 2022