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Trading update on the current market situation for Permascand during the first quarter of the year

MAR

Permascand communicated in connection with the Year-end report on February 9, 2023, that the company expects declining revenues in Water Treatment. The situation has been further reinforced, and the company is experiencing significantly weaker and declining demand than expected, and estimates that the installation cycle in ballast water treatment has reached its peak.

The first quarter of 2023 is characterized by a turbulent environment where customers in all segments are cautious in their investment decisions, which has affected the company negatively with a lower order intake than expected.

Permascand continues to experience strong market interest in the Electrification & Renewables and Industrial Solutions segments. These segments account for an increasing share of Permascand's revenue mix and customer demand is good. However, these revenues do not compensate for the loss of revenues in the Water Treatment segment.

Permascand's interim report for January-March will be published as planned on May 10, 2023.

For more information, please contact:

Peter Lundström, CEO
Tel: +46 73-028 14 76
E-mail: investor@permascand.com

About Permascand Top Holding AB

Permascand is an independent technology-driven manufacturer of electrochemical solutions based on proprietary catalytic coatings for clean tech applications. With a customer-centric focus, the company has supplied electrodes, electrochemical cells and aftermarket services to a variety of sectors for more than 50 years. Permascand is headquartered in Ljungaverk, Sweden, with operations including R&D, Technology Development and Production, with offices in Stockholm and Gothenburg, Sweden and Vancouver, Canada. For more information visit: www.permascand.com. Certified Adviser is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399.

This information is information that Permascand Top Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-05-04 07:43 CEST.

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Trading update on the current market situation for Permascand during the first quarter of the year

Datum 2023-05-04, kl 07:43
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Trading update on the current market situation for Permascand during the first quarter of the year
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