2022-03-17 14:11:10
Oslo, Norway March 17, 2022
The unaudited accounts for the 4th quarter 2021 have been released and are available at the company web pages.
The accounts for 4Q 2021 show a negative net profit of NOK 6.4m and a negative cash flow of NOK 5.3m, compared to negative net profit of NOK 3.1m and positive cash flow of NOK 0.1m in 4Q 2020. For FY2021, the accounts show a net loss of NOK 21.9m and a positive cash flow 40.2m, whereof NOK 66.5m from financing activities. This compares to a net loss of NOK 10.3m and cash flow of NOK 0 in FY 2020.
As part of the planned ramp up the net (of capitalized costs) payroll and other operating costs (excluding depreciation and amortization) increased to NOK 4.9m in 4Q 2021 compared to NOK 1.7m in 4Q 2020. For FY 2021 compared to FY 2020 the corresponding figures were NOK 15.4m and NOK 6.3m.
Net capitalized development cost and PPE totaled NOK 1.4m compared to NOK 8.1m in 4Q 2020. For FY 2021 the corresponding figure was NOK 6.8m vs NOK 10.3m in FY2020. CondAlign has received public funding and grants during FY2021 of NOK 4.7m, which are recognized as reduction on capitalized development costs.
The Company has a comfortable cash position of NOK 40.5m and available liquidity of NOK 45.5m at the end of 4Q. Total interest-bearing debt at the end of the period equals NOK 11.6m including accrued interest and leasing obligations.
The total equity is NOK 49.5m with an equity ratio of 74.3%.
For further information, please contact:
Tom Hvammen, CFO
Mail: investor@condalign.no
Phone: +47 414 79 538
CondAlign is a Norwegian technology company developing conductive films for highly efficient directional conduction of electricity, heat and industrial gases. CondAligns patented technology enables the development of new break-through consumer products as well as industrial applications.