Metacon publishes interim report for Q3 2024

STOCKHOLM, Nov. 19, 2024 /PRNewswire/ -- In the third quarter, we were pleased to announce that we had entered into an agreement for the sale and delivery of a 30 MW electrolysis plant to Motor Oil, in Greece. It is a breakthrough in our strategy to become a leading manufacturer and supplier in the field of industrial hydrogen production. The project for Motor Oil is an important step in our work to develop and license manufacture electrolysis plants for large-scale hydrogen production. Metacon's own production of system products will begin already within the framework of this project as we will use our existing factory and staff in Greece. The project has further growth potential as Motor Oil has the opportunity to expand the plant by an additional 20 MW in a second phase.

For the full CEO-comment, see the Interim report in its entirety.

Quarter July-September

• Revenues amounted to SEK 6.1 (21.6) million
• Earnings before depreciation and amortization (EBITDA) amounted to SEK -46.3 (-16.9) million
• Operating profit (EBIT) amounted to SEK -49.1 (-19.6) million
• Profit/Loss after financial items amounted to SEK -49.3 (-19.9) million
• Earnings per share amounted to SEK -0.07 (-0.06)

Period January-September

• Revenues amounted to SEK 26.0 (65.8) million
• Earnings before depreciation and amortization (EBITDA) amounted to SEK -89.6 (-44.6) million
• Operating profit (EBIT) amounted to SEK -97.9 (-52.7) million
• Profit/Loss after financial items amounted to SEK -99.4 (-53.4) million
• Earnings per share amounted to SEK -0.15 (-0.16)

Events during and after the quarter

• On August 8, it is announced that Metacon has entered into an agreement for the delivery of a 30 MW industrial electrolysis plant worth EUR 19.8 million (approx. SEK 226 million) and marks the start of our European manufacturing of electrolyzers.
• On September 10, it is announced that Nikolett Sipöcz will take up the position as Chief Business Officer Electrolysis for Metacon with effect from November 4, 2024. She replaces Johan Berggren in his manager role as Head of Sales, which enables Johan to have full focus on sales and business development work towards major key projects in the role of Business Development Director.
• On October 15, it is announced that the board of Metacon has decided on a rights issue of approximately SEK 138 million, which was approved by the Extraordinary General Meeting on November 15.

Contact Christer Wikner, President & CEO, +46 707 647 389, [email protected] Mattias Jansson, CFO, +46 722 316 862 [email protected]

This information is information that Metacon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08:00 CET on 19 November 2024.

About Metacon

Metacon AB (publ) develops and manufactures energy systems for the production of fossil-free "green" hydrogen. The products in the Reforming business area are based on a patented technology that generates hydrogen through so-called catalytic steam reforming of biogas or other substances. The development of Metacon's reforming products is carried out within the wholly-owned subsidiary Metacon S.A in Patras, Greece. The business is focused on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production. 

Metacon also offers complete electrolysis plants and integrated refuelling stations for green hydrogen, a large and globally growing area for production of green hydrogen. Electrolysis is a process in which a chemical reaction is driven to split water into hydrogen and oxygen by adding electricity. If the electricity used is fossil-free, hydrogen will also be fossil-free and climate-neutral. Green hydrogen can be used in the transport sector, basic industry and the real estate sector, among others, and lead to a better environment, climate and increased self-sufficiency in energy and vehicle fuel as a result. www.metacon.com 

For further information please see:www.metacon.com | X: @Metaconab | LinkedIn: www.linkedin.com/company/metaconab

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