Clean Industry Solutions

The period in brief - financial summary for the third quarter

• Income amounted to SEK 1.3 million
• Other operating income amounted to SEK 3.4 million
• Operating Expenses for the third quarter amounted to SEK -7.8 million
• Operating result (EBIT) for the third quarter amounted to SEK -5.9 million
• Earnings per share, before and after dilution, for the third quarter amounted to SEK -0.233
• Cash flow from operating activities for the third quarter amounted to SEK -0.3 million
• As of 30-09 equity amounted to SEK -3.9 million
• Cash and cash equivalents on 30-09 amounted to SEK 2.1 million

Significant events during the reporting period

• Industrial Solar Signs Contract to Build Fresnel Collector for Unilever
• Industrial Solar to Design Solar Thermal System for Hilton Hotel
• Bulletin from Clean Industry Solutions Holding Europe AB Extraordinary General Meeting 2023
• Clean Industry Solutions Holding Europe AB (publ) carries out a rights issue of shares of approximately SEK 25.5 million    
• Clean Industry Solutions Holding Europe AB (publ) publishes prospectus in connection with the rights issue
• Clean Industry Solutions Holding Europe announces outcome of the rights issue

Significant events after the reporting period

• Successful Partner Training Workshop at Industrial Solar    
• Clean Industry Solutions subsidiary SolarSpring signs MOU with Aqualia
• SolarSpring Receives National Grant Award for R&D Project BEFuel

Comments from the CEO Christian Zahler

During the third quarter of this year, we have experienced important events in the company as well as in both our subsidiaries. Our revenue increased by 18.5% compared to the third quarter of last year. The growth of our total operating income on a year-to-date basis is +56%.    

With our subsidiary Industrial Solar signing the contract for the installation of the first commercial Fresnel Collector in Latin America in July, we got off to a good start in the summer months. Preparations for the installation of the thermal system that will generate steam for Unilever's factory in Mexico are running at full speed.  

At SolarSpring, Rebecca Schwantes took over the Managing Director position from Daniel Pfeifle who founded the company in 2009. With her vast experience in the water sector and long-term affiliation with SolarSpring, we look forward to her input and welcome Rebecca to her new position.

The rights issue we conducted in September was subscribed with approximately 55 percent, including underwriters, and leaves us with approximately SEK 10.2 million in cash. The injection is an important step towards financing the growth of our subsidiaries and future endeavors such as new joint ventures in target markets and the development of new customer projects.

I would like to conclude by thanking existing and new shareholders for the trust they place in us by participating in the capital increase. Your support encourages us to take further steps towards our vision of a sustainable future, and we will do our best to comply with the increasing demand for our solutions and deliver value to our investors.