Freemelt holding AB (publ) Interim Report Q1 2022

11 May 2022 | Regulatory

Freemelt Holding AB (publ), whose groundbreaking solution creates new conditions for rapid growth in 3D printing, is listed on Nasdaq First North Growth Market. The group was first formed 2021-06-17 when Freemelt Holding AB acquired Freemelt AB. There are therefore no comparative figures for the period.

The Group's key figures

(KSEK) January – March Full year
2022 2021 2021
Net sales 10,787 302
EBITDA -9,952 -26,899
EBIT -9,995 -26,992
Balance sheet total 325,459 335,382
Equity ratio 97% 97%

Significant events during the period, Q1

  • Three Freemelt ONE systems have been delivered in accordance with received orders from the USA, Italy, and Sweden.
  • Order for a Freemelt ONE system has been received from The University of Texas in El Paso, USA.

Significant events after the period

  • Order for a Freemelt ONE system has been received from the Georgia Institute of Technology in the United States.
  • Agreements have been signed with two leading US resellers in research and education equipment with representation in eighteen states.
  • Agreement signed with a leading reseller in Turkey.

CEO words in summary
Freemelt shows a commercial viability and can already show a substantial growth in sales. The company is now on its way to becoming cash flow neutral, excluding the investments we are making in the development of our upcoming industrial system.
We follow our strategy with a fast pace of sales and expansion. So far in 2022, we have entered into agreements with three new agents in the United States and Turkey. We see that our materials research system, Freemelt ONE, has great commercial potential and that we are at the forefront as a supplier of a system for research and development. Demand is increasing and we continuously receive more requests for the system and a stream of new orders. Since November, the sales rate has been close to one machine per month, which means that we have now reached a new level in converting customer interest in Freemelt ONE into orders.
The electron beam is future-proof and the technology itself is in many ways superior to that of our competitors' machines that contain lasers as the energy source. We are superior at directing the beam to exactly the right place in every microsecond – with our hardware, software, and data architecture.
Since the end of the first quarter of 2021, we have almost doubled the number of employees at Freemelt as we have gone from 16 employees to 28. In 2022, we will continue to build our organization to meet ongoing growth and expansion and we see that we will continue to expand our resources primarily in customer support and operations to meet the increasing sales rate. Another thing worth mentioning is that our production site in Linköping, in record time, deliver products in line with the increasing order volumes.

Link to the interim report, in Swedish
https://staging.freemelt.com/investors/financial-reports/

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Latest update: 2022-05-11