Freemelt holding AB (publ) Interim Report Q4 and full year 2022

21 Feb 2023 | Regulatory

Freemelt Holding AB (publ) whose groundbreaking solution creates new conditions for rapid growth in 3D printing – ends 2022 strongly with the company’s best quarter to date. Freemelt – listed on Nasdaq First North Growth Market – is today one of the leading suppliers of advanced additive manufacturing. The group was first formed 2021-06-17 when Freemelt Holding AB acquired Freemelt AB.

The Group’s key figures

  October-December January-December Full year
(KSEK) 2022 2021 2022 2021 2021
Net sales 12,203 124 36,149 302 302
EBITDA -259 -7,393 -14,280 -11,771 -11,771
EBIT -7,928 -14,571 -43,733 -26,992 -26,992
Balance sheet total 292,376 335,382 292,376 335,382 335,382
Equity ratio 96% 97% 96% 97% 97%

Significant events during the period, Q4
Freemelt has:

  • Received three orders for Freemelt ONE systems from Texas A&M University, University of Michigan, and Bergische Universität Wuppertal.
  • Delivered four Freemelt ONE systems according to received orders from Carnegie Mellon University, University of Michigan, Bergische Universität Wuppertal and Georgia Institute of Technology.
  • Recruited Daniel Gidlund as CEO with effect from October.
  • Recruited Martin Granlund as new CFO who will start in Q1 2023.
  • Elected Ulric Ljungblad and Johannes Schleifenbaum to the Board of Freemelt Holding AB.
  • Launched the industry system eMELT at the Formnext trade fair in Frankfurt in November.
  • Been granted a new patent in the USA that improves resolution and stability in 3D-printing.

Other significant events during 2022
Freemelt has:

  • Established sales networks with leading agents and resellers in Europe and North America.
  • Received a total of eight new orders from customers in Europe and North America.
  • Been granted a patent granted for ProHeat™ and a new patent granted in the US that improves resolution and stability in 3D printing.
  • Launched the industrial machine eMELT® and the software Pixelmelt that optimizes the melting process.

Significant events after the period 
Freemelt has:

  • Received order exceeding SEK 1 million for materials development from the United Kingdom Atomic Energy Authority, UKAEA. Freemelt will develop new methods for 3D printing in tungsten for fusion power plants.
  • Appointed Eric Bert as president for Freemelt in North America.

CEO words in summary
2022 ended strongly with our best quarter ever. Freemelt is today one of the leading suppliers in advanced additive manufacturing – an area filled with innovative customers, prepared to pay for machines that meet their high demands for quality, efficiency, and adaptability. We have already created a strong position through the research machine Freemelt ONE, with the launch of the industrial system eMELT, Freemelt has great opportunities to take additional market shares.

Freemelt continues to develop very rapidly – and during the fourth quarter further important commercial steps were taken. This is visible both financially and in the number of new deals. Our first machine for additives manufacturing – the research-oriented Freemelt ONE – has received a stronger reception among universities and research-oriented institutions than we dared to hope for.

During the quarter, the development of our system for commercial production – eMELT – has also progressed at high speed. It opens up a completely new market and the interest is very high among the companies we have been in contact with. It was not least noticeable during the world’s largest trade fair for 3D printing – Formnext in Frankfurt – where we launched eMELT, our new industrial system. eMELT is based on the basic technology from Freemelt ONE, but has a unique four-chamber layout which means that four products can be built in parallel, which generates world-leading productivity.

Freemelt continues its journey to structure the company to reach a sustainable and scalable organization that can handle the continued strong business growth in an efficient manner. During 2022, Freemelt continued to greatly expand the organization in the number of employees (+36% vs. 2021), but also with new cutting-edge expertise to broaden the capacity within 3D-Printing. The company has also strengthened its strategic leadership with the recruitment of an external CEO with extensive commercial experience and a new CFO.

Link to the quarterly report

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Latest update: 2023-02-21