Enersize Q3 2022 company Brief

Enersize's Q3 company brief can be found on the company's website enersize.com. Below is a translation of selected parts of the Q3-report originally published in Swedish on November 30, 2022, with the title "Enersize offentliggör delårsrapport för tredje kvartalet 2022".

April – June 2022

  • Net sales for the third quarter 2022 amounted to EUR 27,241 (67,310).
  • Operating profit (EBIT) for the third quarter 2022 amounted to EUR -506,674 (-404,724).
  • Profit before appropriations and taxes for the third quarter 2022 amounted to EUR -518,243 (-460,600).
  • Average number of employees for the third quarter 2022 amounted to 11.0 (11.5).

January – June 2022

  • Net sales for the period 2022 amounted to EUR 116,776 (189,215).
  • Operating profit (EBIT) for the period 2022 amounted to EUR -1,446,554 (-1,319,866).
  • Profit before appropriations and taxes for the period 2022 amounted to EUR -1,483,092 (-1,485,470).
  • Average number of employees for the period 2022 amounted to 12,5 (10.5).

Significant events during 2022

First quarter

  • Enersize renews strategic partner agreements with two previous partner companies, SCOPP Solutions SARLAU Capital 100,000 DH and Momentum Industrial AB. The agreements form the basis of Enersize's new business model.
  • Enersize Advanced Research AB has received an order from the Indonesian company PT Cicor Panatec, which includes both hardware and software related to Enersize's SaaS platform.
  • Enersize signs a letter of intent with Akila Information Systems Ltd, which is a milestone towards a partnership for Enersize products to be integrated into Akila Services and data platform.

Second quarter

  • Scania extends and expands its pilot agreement with Enersize by 12 months for energy savings and, in parallel, Enersize and Scania intend to start joint development projects in autumn 2022.
  • Scania orders hardware for the plant in Södertälje.
  • Enersize Partner SCOPP receives new African orders from Vivo Energy Maroc and Maghreb Steel.
  • DAS Korea installs its first pilot as part of Enersize onboarding.

Third quarter

  • On July 5, Enersize announced that it had entered into an agreement on bridging financing from two existing shareholders, according to which the lenders undertook to provide a loan and credit line of SEK 5.0 million. The bridging loan ensures continued establishment and sales of the new business model, and gives the board the opportunity to actively evaluate various alternatives for the Company's long-term financing and optimal capital structure.

Significant events after the quarter

  • On October 24, Enersize announces that the board has decided to carry out a unit issue with preferential rights for existing shareholders. The issue can initially add SEK 10.6 million to the company before issue costs, while a further SEK 14.2 million can be added when warrants are fully subscribed at a later stage.
  • On October 24, Enersize announced that the LOI for a so-called reverse takeover with Finnish Batteries OY (Tera Factory) announced on 18 October 2021 has ceased to apply and that the reverse acquisition will therefore not be carried out.
  • On October 25, Enersize announces that it has entered into a partnership agreement with the French-Chinese company Akila for the Asian market, where it will integrate Enersize software for energy optimization of compressed air into Akila's overall "digital twin" platform.
  • On October 25, Enersize announces that it is implementing a streamlining of the organization and carrying out cost-saving measures in research, finance and overhead functions, which are estimated to reduce the company's operating costs by approximately 40 percent, which corresponds to approximately SEK 9 million on an annual basis.
  • On October 31, Enersize published the investment memorandum for its rights issue
  • On November 11, Enersize announced that it has signed a letter of intent with US-based CTRL Systems where CTRL Systems will use Enersize's Compressed Air Services SaaS platform to provide energy optimization of industrial compressed air to the North and Central American market.
  • On November 23, Enersize announced that the unit issue announced on October 24 had been fully subscribed and that 98.2% of the issue had been subscribed directly by new and existing shareholders and only 1.8% by guarantors.

Summary of the Group’s indicators


EUR
2022
Q3
2021
Q3
2022
Q1-Q3
2021
Q1-Q3
Net sales 27,241 67,310 116,776 189,215
Gross margin, % 50 52 54 60
Operating profit (EBIT) -509,674 -404,724 -1,446,554 -1,319,866
EBIT margin, % Neg. Neg. Neg. Neg.
Profit before appropriations and taxes -518,243 -460,600 -1,483,092 -1,485,470
Profit margin, % Neg. Neg. Neg. Neg.
Earnings per share before and after dilution -0.0011 -0.0020 -0.0031 -0.0064
Equity ratio, % 472,547,704 233,773,853 472,547,704 233,773,853
Balance sheet total 472,547,704 233,704,779 472,547,704 233,370,492
Cash flow from operating activities 56.9 27.2 56.9 27.2
Average number of employees 1,635,827 1,797,022 1,635,827 1,797,022

*To increase comparability, consulting fees have been deducted from material and services when calculating the indicator since the consultant is now a permanent employee of the company.

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Enersize Q3 2022 company Brief

Enersize’s Q3 company brief can be found on the company’s website enersize.com. Below is a translation of selected parts of the Q3-report originally published in Swedish on November 30, 2022, with the title “Enersize offentliggör delårsrapport för tredje kvartalet 2022”.

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