Fourth quarter: 1 October – 31 December 2022 (Parent company) 

• Net sales amounted to MSEK 11 (MSEK 9)  
• EBITDA amounted to MSEK -9 (MSEK –7.2)  
• Net result amounted to MSEK -11.1 (MSEK –9) corresponding to SEK -0.36        
  (SEK -0.30) per share  
• Cash flow for the period was MSEK 7.3 (MSEK –7.8) and cash and cash
  equivalents as per Dec 31^st amounted to MSEK 185

Net sales increased by 22% in the fourth quarter compared to same period 2021 and by 84% for the full year 2022 with a net turnover of MSEK 64. 

Strong momentum in Hella and Bosch collaborations
The fourth quarter is characterized by a positive momentum in the company with a high level of activity in ongoing customer projects and discussions with several new potential customers.
Focus during the quarter has been the formal approval process for high-volume production lines for Hella with start of production in 2024.

In parallel the company have focused on product and process development and to build production capacity together with Bosch according to agreement signed in July 2022.
 

CEO Jonas Ehinger comments on the report:
“I have now been the CEO of Gapwaves for almost half a year and I’m proud of the momentum the Gapwaves team has achieved during the last quarter of the year. With the already signed agreements with Veoneer, Hella and Bosch among other customers, we are in a good position for continued growth, and I have high expectations for what we will achieve together in 2023 and beyond.”

The full report is available as attached PDF and at Gapwaves website; Financial reports, download.

For more information, please visit www.gapwaves.com or contact: 
Jonas Ehinger, CEO Gapwaves AB (publ)
Phone number: +46 733 44 01 52
E-post: jonas.ehinger@gapwaves.com

Robert Berhof, CFO Gapwaves AB (publ)
Phone number: +46 706 00 59 07 
E-post: robert.berhof@gapwaves.com 

Gapwaves Certified Adviser is G&W Fondkommission AB
www.gwkapital.se

About Gapwaves AB (publ)
Gapwaves originates from research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves vision is to be the most innovative provider of mm-wave antenna systems and the preferred partner to those pioneering next generation wireless technology. By leveraging the disruptive Gapwaves technology we help pioneers in telecom and automotive to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life. Gapwaves markets are e.g. mmWave in the automotive and telecom industries.  

Gapwaves share (GAPW B) is traded at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.