August 15, 2023

Interim report January-June 2023

Completed rights issue and investments in new technology

In July, the rights issue resolved upon by the Annual General Meeting on June 16, 2023, was completed. The issue was 71.3 percent guaranteed, but only a smaller percentage (about 1 percent) of the guarantors received allotment. Through the rights issue, the company raised MSEK 54.8 before issuance costs, which means that the planned repayment of bridging loans proceeds while we pursue a long-term plan for financing of future initiatives and operating capital.

Net sales decreased during the quarter, to MSEK 18.8 (24.1). The lower net sales are attributable to component shortages, which this quarter affected our own production. The effort to secure the supply of components has been the focus, and planned dispatches will be delivered during the second half of 2023. The delayed dispatches amount to approximately MSEK 40. All received orders remain in place.

The second quarter 2023 in brief

  • Net sales decreased to MSEK 18.8 (24.1)
  • Order intake amounted to MSEK 0.0 (0.0)
  • Operating costs for personnel, other external charges and depreciation decreased to MSEK -23.2 (-24.8)
  • Operating income amounted to MSEK -12.5 (-16.4)
  • Net profit or loss amounted to MSEK -14.0 (-18.8)
  • Cash flow from operating activities amounted to MSEK -15.0 (-19.6)

 Significant events during the quarter

Alelion engages in a cooperation project on aeronautics innovation—AI Factory for Aviation—with Saab and Luleå University of Technology. The parties are aiming to co-develop an AI solution for evidence-based decision-making during operation and maintenance of aircraft. The key word for the AI Factory for Aviation project is ‘asset management’, to identify data-driven models with a view to operate and maintain conventional and electric aircraft and airport infrastructure in the best possible way.

Alelion strengthens its patent portfolio. The European Patent Office (EPO) has granted Alelion’s patent relating to grid stabilization. The patent is an addition to Alelion’s patent portfolio in Energy Management, which, among other things, covers technology for distributed stabilization of grids and batteries in electric cars, home environments and industrial applications.

Significant events after the end of the period

The company carried out a rights issue, which was finalized on July 10, 2023. The rights issue provided the company proceeds of MSEK 54.8 before issuance costs.

Alelion has acquired a platform for data analysis developed by Nortical, a company that earlier this year filed for bankruptcy. The platform is cloud-based and the purpose is to effectively manage large amount of battery data.

This disclosure contains information that Alelion Energy Systems AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-08-2023 08:30 CET.