Main highlights during the second quarter of 2017
- Signed agreement on May 29th 2017 with S:T Eriks AB, Sweden's leading manufacturer of concrete products.
- As part of the process of establishing a board of directors consisting of mainly independent members both Henrik Jensen and Thomas Becker was replaced by Gitte Haanig-Høj and Theis Reenberg at the annual general meeting in April, the latter representing the major shareholder PhotoC Holding.
- The Danish market for Photocat Garden products experience serious price competition.
- Granted patent for concrete wet technology in EU.
- Lauzon report highest ever sales of its Pure Genius product range which is based on the actiFLOOR technology.
- Developed business offer together with Gammelrand to major Danish cities.
- Binne & Sohn attain and install first NOxOFF reference project in Leipzig.
Main highlights during the first six months of 2017
- Signed agreement on May 29th 2017 with S:T Eriks AB, Sweden's leading manufacturer of concrete products.
- La Roda and Adybor attain first orders for NOxOFF products in Spain.
- The Danish market for Photocat Garden products experience serious price competition.
- ASAK A/S, a leading concrete manufacturer in Norway, launches the NOxOFF technology as standard on all "Gangbaneheller".
- Enter into technology partnership with Troldtekt A/S, a leading manufacturer of acoustic ceilings in Europe, for the development of photocatalytic indoor acoustic ceilings.
- Share capital increased with 643.700 shares through a private placement to the company Strategic Investments A/S on February 15th 2017
Significant events after the second quarter 2017
- Secured two new customers in Spain: SAGRA S.A. and Prehorqui S.A.
- Implemented cost alignment programme.
- Successful production test for new indoor acoustic ceiling application in cooperation with Troldtekt A/S, a leading manufacturer of acoustic ceilings in Europe.
Financial summary
| Amounts in DKK '000s | 1 Apr - 30 Jun 2017 | 1 Apr - 30 Jun 2016 | 1 Jan - 30 Jun 2017 | 1 Jan - 30 Jun 2016 | Full Year 2016** |
| Revenue from photocatalytic fluid | 772.4 | 1,898.6 | 2,831.9 | 3,183.5 | 4,446.1 |
| Revenue from Consultancy, Equipment & Other | 131.1 | 552.6 | 1,451.7 | 791.2 | 1,188.8 |
| Gross Profit | - 888.6 | 347.3 | 224.2 | 170.6 | -2,593.9 |
| EBITDA | - 2,067.6 | - 716.6 | - 2,234.9 | - 1,818.7 | - 7,341.5 |
| P/L before Tax | - 2,815.9 | - 1,382.5 | 3,762.6 | 3,138.5 | -9,954.9 |
| Net Profit | - 2,640.9 | - 1,338.0 | - 3,587.6 | - 3,028.3 | - 9,782.4 |
| Total Assets | 18,775.8 | 23,499.8 | 18,775.8 | 23,499.8 | 16,029.9 |
| Equity | 14,938.8 | 15,963.3 | 14,938.8 | 15,963.3 | 9,209.0 |
| Debt | 3,837.0 | 7,536.5 | 3,837.0 | 7,536.5 | 6,820.9 |
| Cash at Hand | 2,874.0 | 6,278.4 | 2,874.0 | 6,278.4 | 172.4 |
| ** Audited | |||||
About Photocat
Photocat manufactures patented photocatalytic coating materials for outdoor and indoor applications, which degrade NOx and VOCs when exposed to light. Both NOx and VOCs are severely damaging to human health. Photocat's patented technology is very efficient and an economically viable alternative to many of the traditional technologies targeting NOx (e.g. bus catalysts, flue gas cleaning etc.). Photocat's shares are listed on Nasdaq First North Stockholm with the ticker symbol PCAT. The company's certified advisor is Mangold Fondkommission.
For More Information
- Please visit our website
- Or contact Adam Sagedahl, Strategic Director at Photocat A/S, at adam.sagedahl@photocat.net or +45 42 75 95 46
Photocat A/S is obliged to publisize this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at CET 08:00 on August 18th 2017.
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