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TC TECH Sweden AB (publ) publishes its Interim Report as of September 30th, 2019

TC TECH has today published its interim report for the period January 1 to September 30, 2019

Net sales amounted to 4 717 (0) TSEK in the third quarter of 2019. In the same period, net profit/loss totalled -6 261 (-6 817) TSEK. Cash flow from operating activities was -2 243 (-1 789) TSEK in the third quarter of 2019. Net sales amounted to 9 835 (0) TSEK in the first nine month of 2019, while net profit/loss totalled -21 633 (-22 039) TSEK. Cash flow from operating activities was -18 190 (-12 999) TSEK in the period from January 1st to September 30th 2019. ·  TC TECH Sweden AB (publ) announced that the company has received final approval of a production system for high-performing LGPs used in LCD displays from a Taiwan-based customer. The system has been delivered and installed at the customer’s facilities during the summer.  ·  TC TECH Sweden AB (publ) announced that the company has received an order for one production system used for manufacturing of high-performing LGPs for LCD displays from Nicrotek Co., Ltd, a Chinese LGP manufacturer who is a part of the SVG Optronics Tech Group, and in accordance with the letter of intent previously communicated. The order was received through their Chinese distributor QJ-TEC.   Developments after September 30th, 2019 ·  TC TECH Sweden AB (publ) has in October made a directed equity issue of 1 412 700 shares, based on the authorization granted by the AGM held on May 9th 2019. As a result of this resolution, the company’s share capital increased by SEK 113 016 and liquid funds by around SEK 19 million. 

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TC TECH receives 19 MSEK from directed share issue

The board of directors of TC TECH Sweden AB (publ) has decided to conduct a directed share issue of 1 412 700 shares in accordance with the authorization granted from the company’s annual general meeting on May 9, 2019. The share issue will increase the company’s share capital with 113 016 SEK, while the company receives approx. 19 MSEK in cash.

The largest subscribers of shares in the directed share issue are three companies in the Swedish insurance company group Länsförsäkringar, known for their strong focus on commitment and long-term ownership. The remaining shares were subscribed by legal and physical persons who are expected to become long-term partners of the company. The subscription price has been set to 13.45 SEK per share based on the closing share price on October 23, 2019. The share issue constitutes a deviation from the shareholders' preferential rights. The purpose is to secure additional working and development capital for the company, at the same time as several new and financially strong owners joins the company. “The fact that renown owners such as companies in the Länsförsäkringar group has chosen to invest in TC TECH is another important validation of our technology and TC TECH’s potential,” says Peter Mattisson, chairman of the board, in a comment.

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TC TECH receives order for one production system from a Chinese LGP manufacturer for laptops and tablets

TC TECH Sweden AB (publ) announces that the company has received an order for one production system used for manufacturing of high-performing LGPs for LCD displays from Nicrotek Co., Ltd, a Chinese LGP manufacturer who is a part of the SVG Optronics Tech Group. The order was received in accordance with a letter of intent earlier announced.

The customer is focusing on LGPs in the premium segment for Chinese as well as international manufacturers of LCD displays. This means that the customer has great opportunities to include TC TECH’s technology in upcoming laptops and tablets from well-known brands. “This will be our first delivery to an LGP manufacturer in China, and we are thus able to establish our technology in another important Asian market. This customer is also in an excellent position to benefit from the advantages of our technology, which increases the probability of additional orders if the first system works well,” says TC TECH’s CEO Alexander Luiga. The delivery of the production system is expected to take place in the fourth quarter of 2019. LGPs manufactured using TC TECH’s technology platform are ideally suited to be integrated into LCD displays for laptops and tablets in the premium segment. End customers who purchase these products will benefit from the advantages of the technology, such as thinner products, lower energy consumption and improved image quality.

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TC TECH Sweden AB (publ) publishes its interimreport as of June 30th, 2019

TC TECH has today published its interim report for the period January 1 to June 30, 2019. 

Net sales amounted to 4 254 (0) TSEK in the second quarter of 2019. In the same period, net profit/loss totalled -6 838 (-7 557) TSEK. Cash flow from operating activities was -9 270 (-6 164) TSEK in the second quarter of 2019.  Net sales amounted to 5 118 (0) TSEK in the first half of 2019, while net profit/loss totalled -15 372 (-15 222) TSEK. Cash flow from operating activities was -15 947 (-11 210) TSEK in the period from 1 January to 30 June 2019.  · TC TECH Sweden AB (publ) announced that the company has received an order for one production system for high-performing LGPs for LCD displays from a leading LGP manufacturer based in Taiwan. The customer delivers LGPs for laptops and tablets from globally recognized brands. Developments after June 30th, 2019 · TC TECH Sweden AB (publ) announced that the company has received final approval of a production system for high-performing LGPs used in LCD displays from a Taiwan-based customer. The system has been delivered and installed at the customer’s facilities during the summer. 

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TC TECH receives final approval from Asian manufacturer of LGPs for laptops and tablets

TC TECH Sweden AB (publ) announces that the company has received final approval of a production system for high-performing LGPs used in LCD displays from a Taiwan-based customer. The system has been delivered and installed at the customer’s facilities during the spring.

The order was announced in a press release on April 1, 2019. Delivery, installation and now final approval of the system have subsequently been achieved according to plan. “As we have stated earlier, this customer has a strong focus on R&D and production of LGPs for tablets and laptops in the premium segment, which is a very promising segment for our technology,” says TC TECH’s CEO Alexander Luiga. Since late 2018, TC TECH has dedicated substantial resources to create a more robust and effective manufacturing and delivery chain. The company is now starting to see positive results from these efforts. “In addition to a competitive product, we are now able to offer a more predictable delivery process with shorter lead times and better scalability. This is an important step forward for TC TECH which makes us more attractive in current and future negotiations,” says Alexander Luiga.

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Tommy Nee
CFO
Tel: +46(0)706 19 57 63
E-mail: tommy.nee@tctech.se

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TC TECH has appointed Arctic Securities AS as its Certified Adviser.

Arctic Securities AS, Sweden bransch
Biblioteksgatan 8
SE-111 46 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: arctic.com/secse/en

IR-kontakt

Tommy Nee
CFO
Tel: +46(0)706 19 57 63
E-mail: tommy.nee@tctech.se

Certified Adviser

Bolaget har utsett Arctic Securities AS, filial Sverige till Certified Adviser.

Arctic Securities AS, filial Sverige
Biblioteksgatan 8
111 46 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: www.arctic.com/secse/