CISH Q4 Report 2021
Clean Industry Solutions Holding Europe AB: Quarterly Report October-December 2021
4th Quarter from 01.10.2021 to 31.12.2021 (01.10.2020 to 31.12.2020), Q4 YTD from 01.01.2021 to 31.12.2021 (01.01.2020 to 31.12.2020)
| CISH AB Group RESULTS IN BRIEF | in TSEK | 2021 Q4 | 2020 Q4 | 2021 FY | 2020 FY | Diff. in % FY |
| Sales | 1,006 | 1,244 | 2,180 | 2,018 | +8.0 |
| Increase in finished goods, inventories and wip | -347 | -1,289 | 1,163 | -1,289 | - |
| Other own work capitalized | 0 | 317 | 0 | 317 | -100.0 |
| Income | 658 | 272 | 3,344 | 1,046 | +219.7 |
| Other operating income | 2,292 | 1,744 | 7,220 | 3,527 | +104.7 |
| Operating Income | 2,951 | 2,016 | 10,564 | 4,573 | +131.0 |
| Cost of Sales | -309 | -787 | -1,565 | -1,516 | +3.2 |
| Personnel Costs | -4,994 | -4,253 | -15,547 | -11,778 | +32.0 |
| Other external expenses | -1,290 | -1,354 | -6,589 | -3,853 | +71.0 |
| Other operating expenses | -25 | -74 | -75 | -80 | -6.5 |
| Depreciation | -207 | -236 | -848 | -730 | +16.2 |
| Operating Costs | -6,825 | -6,704 | -24,624 | -17,957 | +37.1 |
| Operating result (EBIT) | -3,874 | -4,688 | -14,060 | -13,384 | -5.1 |
| Elimination of extraordinary Costs * | 0 | 0 | 1,752 | 0 | - |
| Operating Costs after eliminations | -6,825 | -6,704 | -22,872 | -17,957 | +27.4 |
| Operating result (EBIT) after eliminations | -3,874 | -4,688 | -12,308 | -13,384 | +8.0 |
| Financial result | -56 | -84 | -84 | -139 | +39.3 |
| Profit (+) / loss (-) after financial items | -3,930 | -4,772 | -14,144 | -13,523 | -4.6 |
| Taxes | 0 | 0 | -1 | 0 | - |
| Profit (+) / loss (-) after taxes | -3,930 | -4,772 | -14,145 | -13,523 | -4.6 |
| Profit (+) / loss (-) after taxes & eliminations | -3,930 | -4,772 | -12,393 | -13,523 | +8.4 |
| * One time expenses for switch to Nasdaq First North | |||||
| Number of Shares | 15,313,792 | 12,188,792 | 15,313,792 | 7,596,495 | +101.6 |
| Result per share amounted (in SEK) | -0.2566 | -0.3915 | -0.9237 | -1.7801 | +48.1 |
| Cash available end of period | 14,383 | 20,352 | 14,383 | 20,352 | -29.3 |
Significant events during the reporting period
· Fresnel Solar Steam Generator from Industrial Solar highlighted at COP26
· Amendment of SHIP2FAIR Grant Agreement
· Luleå University of Technology, Sweden, ordered MDLab research unit from SolarSpring GmbH
· SolarSpring contracted for MD lab system used in cutting edge offshore hydrogen generation project
· Industrial Solar Awarded Grant for R&D Project to Push Market Introduction of Solar Steam Generation
· Clean Industry Solutions raised SEK 10 million in a directed share issue to Assindia AB
Significant events after the reporting period
· Directed share issue registered with Bolagsverket
· SolarSpring Shipped First Solar Powered Drinking Water System to Burkina Faso
· Clean Industry Solutions Holding Europe AB appointed Lago Kapital as liquidity provider
· Industrial Solar GmbH signed engineering contract with KEBE S.A.
Comments from the CEO Christian Zahler
The most important event for us in the last quarter of 2021 surely was the directed share issue to Assindia AB for an amount of SEK 10 million. Keith Olsson, the chairman of Assindia AB and already shareholder in CISH, not only values CISH’s products but also sees great potential for a business cooperation. Assindia, through its subsidiaries Tectus Development AB and Al Muwathaba PSEC, among others, is active in real estate development in Jordan. The solutions offered by the CISH companies provide independent energy supply and minimization of water consumption for various construction sites in the region and allow the establishment of businesses and housing in areas where energy and water supply infrastructure is lacking.
The dynamic development of the markets addressed by our two subsidiaries along with the increasing traction of our sales and marketing activities and the new cooperation with Al Muwataba in Jordan give hope that our growth rate will increase even faster than in 2021 when our total operating income grew by 131%.