CEO Dr
Significant events April-
- In April,
Minesto launched a build-out plan for tidal energy arrays in theFaroe Islands . The plan includes four new verified sites with the potential to supply 40 percent of the country's growing electricity consumption, enabling theFaroe Islands to reach their policy goal of 100 percent renewable energy by 2030. Together with the local electricity company SEV,Minesto has presented the plan to a wide range of policy and local community stakeholders.
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In May,
Minesto's firstDragon Class tidal powerplant "Dragon 4" (100 kW) was successfully launched in Vestmannasund,Faroe Islands . The first week of commissioning included satisfactory electricity production and verification of all core functionalities of the power plant. The kite generated first electricity to grid right "out of the box" and the commissioning plan was executed as planned.
After the end of the period
- In July,
Minesto announced that the first "Dragon 4" power plant unit had been successfully commissioned in grid-connected operation in Vestmannasund,Faroe Islands , and the company announced verified commercial performance fully in line with simulation results.
The Group in summary 1 January-
- Total operating income amounted to
SEK 23,502 thousand (21,196 thousand) and mainly included capitalised development work ofSEK 21,929 thousand (19,896 thousand).
-
Operating loss was
SEK -10,405 thousand (-9,058 thousand). The negative result is largely attributable to business development and administration related to technology development and includes costs such as personnel and consultants.
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Earnings per share were
SEK -0.06 (-0.05). The corresponding earnings per share including dilution of outstanding warrants wereSEK -0.06 (-0.05).
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At the end of the reporting period, the intangible assets amounted to
SEK 345,463 thousand (274,051 thousand), of which capitalised development costs amounted toSEK 330,820 thousand (260,195 thousand), and patent expenses ofSEK 14,643 thousand (13,856 thousand).
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Grants of
SEK 32,937 thousand (9,701 thousand) were accrued during the reporting period, of whichSEK 31,490 thousand (8,479 thousand) reduced the acquisition value of the capitalised development costs. During the period, payments ofSEK 27,146 thousand (11,419 thousand) were received from public funding schemes.
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Cash flow amounted to
SEK -51,483 thousand (99,790 thousand).
-
At the end of the reporting period, equity amounted to
SEK 530,069 thousand (546 ,298 thousand).
The Half-Year Report is available to download at
www.minesto.com/investor/investor-information
For additional information please contact
Cecilia Sernhage, Communications Manager
+46 735 23 71 58
ir@minesto.com
The information in this press release is such that
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Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor.
https://news.cision.com/minesto-ab/r/minesto-publishes-half-year-report-2022,c3615750
https://mb.cision.com/Main/14621/3615750/1615992.pdf
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