SinterCast

Continued double-digit growth outlook

Fourth Quarter 2021

Revenue for Period: SEK 29.6 million (SEK 32.9 million)
Operating Result: SEK 7.8 million (SEK 9.3 million)
Earnings per Share: SEK 1.0 per share (SEK 1.3 per share)
Cashflow from Operations: SEK 4.7 million (SEK 6.3 million)
Highest December production on record, 25% above 2020 and 20% above 2019
Highest fourth quarter Sampling Cup shipments, yields full-year record of 208,700
Fourth quarter installation revenue exceeds first three quarters

2021 Year-to-Date

Revenue for Period: SEK 107.4 million (SEK 95.4 million)
Operating Result: SEK 31.5 million (SEK 21.7 million)
Earnings per Share: SEK 4.6 per share (SEK 3.1 per share)
Cashflow from Operations: SEK 33.4 million (SEK 22.1 million)
Dividend: Proposed ordinary dividend of SEK 4.50 per share (SEK 4.00 per share) and extraordinary dividend of SEK 0.50 per share (SEK 0.00 per share), equivalent to SEK 35.5 million (SEK 28.4 million), to be paid in two equal instalments
Installed Base: 55 (54) installations in 14 Countries (25 (24) fully automated systems, 24 (25) mini-systems and six (five) tracking systems)

Series Production*

Benefitting from the strongest December on record, annualised series production for the fourth quarter finished at 3.1 million Engine Equivalents, 19% higher than the fourth quarter of 2020 and equalling the previous record for a fourth quarter, set in 2019. Full-year series production amounted to 3.1 million Engine Equivalents, providing a 24% increase compared to 2020.

CEO Comments

Indicators align to reinforce double-digit growth outlook

Series production finished strong in December as many customers bypassed traditional year-end shutdowns to meet the market demand, providing the highest December on record. December production amounted to 3.0 million Engine Equivalents; 25% higher than December 2020 and 20% higher than the pre-Covid high of 2.5 million Engine Equivalents set in December 2019. Series production for the fourth quarter finished at 3.1 million Engine Equivalents, corresponding to a 19% increase over the fourth quarter of 2020 and equalling the previous record for a fourth quarter, set in 2019. Sampling Cup volume also set a fourth quarter high, with 52,400 Sampling Cups shipped, providing a full-year record of 208,700 Sampling Cups, 6% higher than the previous record established in 2018.

Full-year series production amounted to 3.1 million Engine Equivalents, corresponding to an increase of 24% compared to 2020. However, the 2021 volume was 6% below the full-year pre-Covid volume of 3.3 million Engine Equivalents set in 2019. Based on industry data and customer feedback, we estimate that semiconductor shortages and other supply chain challenges affected the 2021 full year volume by approximately 10%. Looking forward, the combination of pent-up market demand, recovering supply chains, strong Sampling Cup orders, the pending start of commercial vehicle production at Scania and First Automobile Works, and additional CGI programmes coming on stream all align to reinforce our double-digit growth outlook, providing the opportunity to break the monthly four million milestone in 2022 and the ambition to reach the five million milestone in 2024.

Strong finish for installations

Following a difficult start to the year for international travel and customer visitation, installation activity intensified during the fourth quarter with the commissioning of a System 4000 at the new Impro foundry in Mexico, and a Ladle Tracker installation at the Hyundai foundry in Korea. Two new functionality upgrades were also implemented at existing customer installations. The fourth quarter progress boosted the installation revenue from SEK 4.2 million at the end of the third quarter to SEK 8.5 million by year-end, surpassing the ten-year historical average of SEK 8.3 million. Together, the strong fourth quarter results for series production, Sampling Cup shipments and installations resulted in full-year revenue of SEK 107.4 million, providing a 13% increase over 2020. In perspective, the 2020 revenue benefitted from record installation revenue of SEK 16.6 million, with SEK 9.8 million coming in the fourth quarter. The high installation revenue in 4Q20 caused year-on-year revenue to decrease by 10%, despite the improvements in series production and consumables. Excluding installations, the fourth quarter revenue was 9% higher while the full-year revenue was 25% higher than 2020.

Installation discussions are ongoing for CGI process control systems, capacity upgrades, and Tracking Technologies installations. In addition to these current installation opportunities, SinterCast is also investigating the development of other unique technologies – within and beyond the scope of thermal analysis – to improve quality and production efficiency in the metals industry, and to broaden our product portfolio and our production base.

Financial Summary

Revenue

The revenue for the SinterCast Group relates primarily to income from equipment, series production and engineering service.

Revenue Breakdown		October−December		January−December
(Amounts in SEK million)	2021	2020	2021	2020
Equipment1	4.3	9.8	8.5	16.6
Series production2	25.0	21.9	97.4	77.1
Engineering service3	0.2	1.2	1.5	1.7
Total	29.6	32.9	107.4	95.4
Number of Sampling Cups shipped	52,400	42,800	208,700	140,600

Includes revenue from sold and leased CGI and Tracking systems and spare parts
Includes revenue from consumables, production fees and software licence fees
Includes revenue from engineering service, demonstrations and test pieces

Year-on-year revenue for October−December 2021 decreased by 10% to SEK 29.6 million (SEK 32.9 million), primarily due to exceptionally high installation revenue comparables in the fourth quarter of 2020. Series production revenue increased by 14% to SEK 25.0 million (SEK 21.9 million) following annualised series production of 3.1 million (2.6 million) Engine Equivalents and Sampling Cup shipments of 52,400 (42,800) units. Equipment revenue amounted to SEK 4.3 million (SEK 9.8 million).

The January−December 2021 revenue increased by 13% to SEK 107.4 million (SEK 95.4 million). Series production revenue amounted to SEK 97.4 million (SEK 77.1 million) following annualised series production of 3.1 million (2.5 million) Engine Equivalents and shipment of 208,700 (140,600) Sampling Cups. Equipment revenue amounted to SEK 8.5 million (SEK 16.6 million). Engineering Service amounted to SEK 1.5 million (SEK 1.7 million).

Results

The business activities of SinterCast are best reflected by the Operating Result. This is because the "Result for the period after tax" and the "Earnings per Share" are influenced by the financial income and costs and by the revaluation of tax assets.

Results Summary	October−December		January−December
(Amounts in SEK million if not otherwise stated)	2021	2020	2021	2020
Operating result	7.8	9.3	31.5	21.7
Result for the period after tax	7.2	8.9	32.9	22.2
Earnings per share (SEK)	1.0	1.3	4.6	3.1

The October−December 2021 operating result decreased by 16% to SEK 7.8 million (SEK 9.3 million). The decrease is primarily because of a SEK 3.3 million decrease in revenue, resulting in a SEK 3.0 million decrease in gross margin; an increase in operating costs of SEK 0.3 million; and, net increases in other operating income of SEK 1.7 million. The result for the period after tax decreased by 23% to SEK 7.2 million (SEK 8.9 million).

The January−December 2021 operating result increased by 45% to SEK 31.5 million (SEK 21.7 million). The increase is primarily because of a SEK 12.0 million increase in revenue, resulting in a SEK 7.8 million increase in gross margin; an increase in operating costs of SEK 2.9 million, primarily due to increases in the number of employees; and, increases in other operating income of SEK 4.9 million. Tax income amounted to SEK 3.9 million (SEK -0.1 million) following the revaluation of the deferred tax asset. The result for the period after tax increased by 48% to SEK 32.9 million (SEK 22.2 million). During the period, no government support in relation to Covid-19 was received.

Cashflow, Liquidity and Investments

Cashflow Summary	January−December		Cashflow Changes
(Amounts in SEK million if not otherwise stated)	2021	2020	2021 vs 2020
Cashflow from operations, before change in working capital	32.4	25.4	7.1
Change in working capital	0.9	-3.3	4.2
Cashflow from operations	33.4	22.1	11.3
Cashflow from investing activities	-3.2	-2.8	-0.4
Cashflow from financing activities	-29.1	-25.9	-3.1
Cashflow total	1.1	-6.6	7.7
Liquidity	27.4	26.3

The January−December 2021 cashflow from operations increased by SEK 11.3 million, compared to the same period last year, primarily related to the SEK 9.8 million increase in operating result. Total investments amounted to SEK 3.2 million (SEK 2.8 million). Cashflow from financing activities increased by SEK 3.1 million, primarily due to the dividend payment 2021 in the amount of SEK 28.4 million (SEK 24.8 million). Total cashflow amounted to SEK 1.1 million (SEK -6.6 million). Liquidity on 31 December 2021 was SEK 27.4 million (SEK 26.3 million). SinterCast has no loans.

Income Tax and Deferred Tax Asset

Tax income for the January−December 2021 period amounted to SEK 3.9 million (SEK -0.1 million), comprised of SEK 4.0 million due the reassessed deferred tax calculation and the payment of SEK 0.1 million of income tax. The estimated future taxable profit and deferred tax asset calculation is reassessed every quarter. As of 31 December 2021, SEK 233.5 million (SEK 214.1 million) of the SinterCast total carried-forward tax losses are the basis of the updated calculation, resulting in SEK 48.1 million (SEK 44.1 million) being capitalised as a deferred tax asset. The deferred tax asset calculation is based on historical ten-year average currency rates.

Risks and Uncertainty Factors

Uncertainty factors for SinterCast include the timing of OEM decisions for new CGI engines and other components, adherence to start-of-production dates and ramp projections, the global economy for new vehicle sales, technology trends and emissions legislation, and the individual sales success of vehicles equipped with SinterCast-CGI components.

Covid-19 – and related material and labour shortages – remain the dominant near-term risk factor for the global foundry and automotive industries. While it is prudent to expect that series production may be influenced well into 2022 and perhaps beyond, SinterCast remains confident in the long-term growth of CGI. Other factors that may influence the market risk for SinterCast and its end-user industries include the current global political uncertainty, the renegotiation of international tariffs and free-trade agreements on vehicle sales, climate change legislation and the associated growth of alternative powertrain technologies, and the overall demand for goods transportation.

No significant risk of material adjustment to the carrying amounts of assets and liabilities has been identified at the balance sheet date and no costs have been taken to the profit and loss due to Covid-19.

For additional risk and uncertainty factor information, see Note 26 on pages 65–70 in the SinterCast Annual Report 2020.

Organisation

With successful high volume CGI production in customer foundries located in Europe, Asia and the Americas, SinterCast has established a global organisation with employees and offices in Sweden, the United Kingdom, the United States, China, Korea and Germany. As of 31 December 2021, the Group had 30 (28) employees, 6 (5) of whom are female. Recent personnel increases ensure that SinterCast is well positioned to support global market activities and to drive the future growth of the company.

Parent Company

SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm, Sweden. On 31 December 2021, the Parent Company had 25 (23) employees. The average number of employees during the period was 24 (21). The majority of the operations are managed by the Parent Company while local operations in the United Kingdom, United States, Korea and China are managed by the local companies. The information given for the Group in this report corresponds in all material respects to the Parent Company. However, the result for the period may differ between the group and the Parent Company due to intercompany transactions between the Parent Company and its subsidiaries.

Patents

SinterCast currently holds 8 (8) patents, granted or pending, and maintains 42 (42) individual national phase patents worldwide. These patents address the SinterCast metallurgical technology, thermal analysis, the Sampling Cup, product applications and machining.

Accounting Principles

The information provided on behalf of the group in this interim report has been prepared in accordance with Sweden's Annual Accounts Act and IAS 34 Interim Financial Reporting. The reporting for the Parent Company has been prepared in accordance with Sweden's Annual Accounts Act, chapter 9 interim report, and RFR 2. The accounting policies that have been applied for the group and the Parent Company agree with the accounting policies used in the preparation of the company's latest Annual Report.

Fair Value Measurement of Financial Assets and Liabilities

The group has Financial assets consisting of derivative instruments (included in other debtors or other creditors) and commercial papers and fixed income instruments. The fair value of derivative instruments, not traded on an active market, is based on observable market currency rates. Cash flows are discounted using market interest

rates. Commercial papers and fixed income instruments are traded on an active market and the fair value is determined by available market prices. These effects are recognised in the profit & loss statement.

Rounding

The total amount shown in tables and statements may not always sum to the same value due to rounding differences. The primary objective is for each line item to correspond to the source. This may sometimes result in rounding or truncation differences in the total.

Alternative Performance Measures are defined and included in this report in the Key Ratio and Share Data tables. More information of Accounting Policies is included in the Annual Report 2020, pages 42-49.

Material Transactions and Events after the Balance Sheet Date

No material transactions have taken place between SinterCast and the Board or the Management during the period. There have been no significant events since the balance sheet date of 31 December 2021 that could materially change these financial statements. The following press release has been issued:

17 January 2022 – Preliminary results 2021

Dividend Distributed in 2021

The Annual General Meeting of SinterCast AB (publ) held on 18 May 2021 approved a dividend of SEK 4.00 per share (totally SEK 28,360,532) for the financial year 2020. The dividend was paid in two equal instalments, on 20 May and 19 November 2021.

Proposed Dividend 2022

The Board's intention is to continue to provide an ordinary dividend to the shareholders, based primarily on the cashflow from operations. In the event that the Board considers that the liquidity exceeds the amount needed to support the operational requirements and strategic objectives, the Board has the option to propose an extraordinary dividend or a share buy-back to further adjust the liquidity.

The Board of Directors propose an ordinary dividend of SEK 4.50 per share (SEK 4.00 per share) with an extraordinary dividend amounting to SEK 0.50 (SEK 0.00 per share), representing a distribution of SEK 35.5 million (SEK 28.4 million) to the shareholders of SinterCast AB (publ) for the financial year 2021, distributed in two equal payments of SEK 2.50 per share. The Board proposes 19 May 2022 as the record date for the first dividend and 7 November 2022 as the record date for the second dividend. In deciding the amount of the ordinary dividend to be proposed to the AGM 2022, the Board considered cashflow from operations, the financial position, investment requirements and other factors, such as market outlook, growth strategy and the internal financial forecast for the Group.

Annual General Meeting 2022

The Annual General Meeting 2022 of SinterCast AB (publ) will be held in Stockholm on Tuesday 17 May 2022. Provisions will be made in the event that the AGM must be held virtually.

Shareholders wishing to have a matter considered at the Annual General Meeting should provide written submissions to [email protected] or to the company: SinterCast AB (publ), Kungsgatan 2, 641

30 Katrineholm, Sweden, at least seven weeks prior to the Annual General Meeting for the proposal to be included in the notice of the meeting. Further details on how and when to register will be published in advance of the Annual General Meeting.

Nomination Committee

The Nomination Committee, re-elected by the Annual General Meeting 2021, consists of Victoria Skoglund, Chairman, Andrea Fessler, Jan Åke Jonsson, Chairman of the Board of Directors, Aage Figenschou and Carina Andersson. Shareholders wishing to provide input or proposals should provide written submissions to the Nomination Committee (e-mail: [email protected]) at least seven weeks prior to the Annual General Meeting for the proposal to be included in the notice of the meeting.

Information

January–March 2022 27 April 2022 April–June 2022 17 August 2022 July–September 2022 4 November 2022 October–December 2022 and Full Year Results 2022 8 February 2023

Annual Report 2021 Publication Date The Annual Report of SinterCast AB (publ) 24 March 2022

Annual General Meeting 2022 Date

The Annual General Meeting of SinterCast AB (publ) 17 May 2022

This report has not been reviewed by the company's Auditors.

Interim Reports Publication Date

Stockholm 8 February 2022

For further information please contact:

Dr. Steve Dawson President & CEO SinterCast AB (publ) Office: +46 150 794 40 Mobile: +44 771 002 6342 e-mail: [email protected] website: www.sintercast.com CIN: 556233-6494

This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 8 February 2022.

SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 55 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

Income Statement – Group

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Revenue	29.6	32.9	107.4	95.4
Cost of goods sold	-9.3	-9.6	-31.3	-27.1
Gross result	20.3	23.3	76.1	68.3
Cost of sales and marketing	-7.3	-7.2	-26.6	-25.0
Cost of administration	-2.6	-2.6	-9.6	-8.5
Cost of research & development	-3.1	-2.9	-11.8	-11.6
Other operating income	0.4	0.0	3.3	0.0
Other operating costs	0.0	-1.3	0.0	-1.6
Operating result	7.8	9.3	31.5	21.7
Financial income	0.0	-0.2	0.1	1.1
Financial costs	-0.5	-0.1	-2.5	-0.5
Financial net	-0.5	-0.3	-2.4	0.6
Result before income tax	7.3	9.0	29.0	22.3
Income tax	0.0	-0.1	3.9	-0.1
Result for the period	7.2	8.9	32.9	22.2
Result attributable to:
Equity holder of the parent company	7.2	8.9	32.9	22.2
Non-controlling interests	-	-	-	-
Earnings per share, SEK	1.0	1.3	4.6	3.1
Earnings per share, diluted, SEK	1.0	1.3	4.6	3.1
Number of shares at the close of the period, thousands	7090.1	7090.1	7090.1	7090.1
Average number of shares, thousands	7090.1	7090.1	7090.1	7090.1
Average number of shares, diluted	7090.1	7090.1	7090.1	7090.1

Statement of Result and Other Comprehensive Income – Group

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Result for the period	7.2	8.9	32.9	22.2
Other comprehensive income
Items may be reclassified to the income statement
Translation differences, foreign subsidiaries	-0.7	-0.4	-0.4	-0.4
Other comprehensive income, net of tax	-0.7	-0.4	-0.4	-0.4
Total comprehensive income for the period	6.5	8.5	32.5	21.9
Total comprehensive income attributable to:
Shareholder of the parent company	6.5	8.5	32.5	21.9
Non-controlling interests	-	-	-	-

Balance Sheet – Group

	31 Dec	31 Dec	30 Sep	30 Sep
Amounts in SEK million	2021	2020	2021	2020
ASSETS
Intangible assets	5.9	6.2	6.5	6.1
Tangible assets*	6.4	6.7	6.2	6.7
Other long term receivables	4.4	5.8	4.3	5.8
Deferred tax asset	48.1	44.1	48.1	44.1
Total fixed assets	64.9	62.8	65.1	62.7
Inventory	10.4	9.4	10.9	12.5
Short-term receivables	28.6	29.1	25.4	23.9
Short term deposits and cash at bank and in hand	27.4	26.3	37.4	45.9
Total current assets	66.4	64.9	73.6	82.3
Total assets	131.3	127.7	138.7	144.9
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	113.2	108.8	120.6	124.9
Long term liabilities*	2.4	3.2	2.5	3.2
Current liabilities*	15.8	15.7	15.6	16.8
Total liabilities	18.1	18.9	18.1	20.0
Total shareholders' equity and liabilities	131.3	127.7	138.7	144.9

* Includes right of use assets (SEK 3.5 million), long term lease liability (SEK 2.4 million) and short term liabilities (SEK 1.6 million)

Statement of Changes in Equity – Group

		Additional
	Share	Paid in	Exchange	Cumulative
Amounts in SEK million	Capital	Capital	Differences	Results	Total Equity
Opening balance 1 January 2020	7.1	44.9	1.6	58.1	111.7
Total comprehensive income	-	-	-0.4	22.3	21.9
Dividend	-	-	-	-24.8	-24.8
Closing balance 31 December 2020	7.1	44.9	1.2	55.6	108.8
Opening balance 1 January 2021	7.1	44.9	1.2	55.6	108.8
Other	-	-	-	0.2	0.2
Total comprehensive income	-	-	-0.4	32.9	32.5
Dividend	-	-	-	-28.4	-28.4
Closing balance 31 December 2021	7.1	44.9	0.8	60.4	113.2

Cashflow Statement – Group

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Operating activities
Operating result	7.8	9.3	31.5	21.7
Adjustments for items not included in the cash flow
Depreciation	0.9	0.9	3.8	3.7
Other	-0.5	-0.1	-0.5	0.0
Unrealised exchange rate differences	-0.6	-0.1	-1.9	0.5
Paid interest	-0.2	-0.1	-0.5	-0.4
Paid income tax	0.0	-0.1	0.0	-0.1
Total cashflow from operating activities	7.5	9.9	32.4	25.4
before change in working capital
Change in working capital
Inventory	0.4	3.1	-1.0	-1.1
Operating receivables	-3.3	-5.6	1.8	-3.9
Operating liabilities	0.2	-1.1	0.1	1.7
Total change in working capital	-2.7	-3.6	0.9	-3.3
Cashflow from operations	4.7	6.3	33.4	22.1
Investing activities
Acquisition of intangible assets	-0.5	-0.5	-2.4	-1.2
Acquisition of tangible assets	0.0	-0.5	-0.8	-1.6
Cashflow from investing activities	-0.5	-1.0	-3.2	-2.8
Financing activities
Payment lease liability	0.0	-0.1	-0.7	-1.1
Dividend	-14.2	-24.8	-28.4	-24.8
Cashflow from financing activities	-14.2	-24.9	-29.1	-25.9
Exchange rate differences in cash and cash equivalents	0.0	0.0	0.0	0.0
Cashflow for the period	-10.0	-19.6	1.1	-6.6
Cash - opening balance	37.4	45.9	26.3	32.9
Cash - closing balance*	27.4	26.3	27.4	26.3

* The cash and cash equivalents comprise short-term deposits and cash at bank and in hand

Key Ratio and Share Data – Group

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Key Ratio
Revenue*	29.6	32.9	107.4	95.4
Operating result	7.8	9.3	31.5	21.7
Operating margin %	26.4	28.3	29.3	22.7
Result for the period*	7.2	8.9	32.9	22.2
Solidity, %	86.2	85.2	86.2	85.2
Shareholders' equity	113.2	108.8	113.2	108.8
Capital employed	115.5	112.0	115.5	112.0
Total assets	131.3	127.7	131.3	127.7
Return on shareholders' equity, %	6.2	7.6	29.7	20.2
Return on capital employed, %	6.1	7.4	27.0	19.7
Return on total assets, %	5.4	6.5	23.8	17.4
Employees
Number of employees at the end of the period	30	28	30	28
Data per Share
Earnings per share, SEK*	1.0	1.3	4.6	3.1
Dividends per share, SEK	2.0	3.5	4.0	3.5
Cashflow from operations per share, SEK	1.2	0.9	2.2	3.9
Share price at the end of the period, SEK	140.8	124.2	140.8	124.2

* According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).

Definition of key rations can be found in the last Annual Report, note 29.

Operating margin %	Weighted average of the number of shares outstanding for the
Operating results as percentage of revenue	period
Solidity %	Average number of shares adjusted for dilution
Adjusted shareholders' equity expressed as percentage of total	Weighted average of the number of shares for the period adjusted
assets end of period	for dilution
Equity per share	Earnings per share
Shareholders' equity divided by the average number of shares	Result for the period divided by the average number of shares
Capital employed	Earnings per share, diluted
Total assets less non-interest bearing liabilities	Result for the period divided by the average number of shares
Return on shareholders' equity %	adjusted for dilution
Result for the period as a percentage of average shareholders'	Dividend per share
equity. Quarterly values are not annualised	Dividend divided by the number of shares
Return on capital employed %	Cashflow from operations per share
Result for the period as a percentage of average capital employed	Cashflow from operations divided by the number of shares
Quarterly values are not annualised	Share price at the end of the period
Return on total assets %	Latest paid price for the SinterCast share at NASDAQ Stockholm
Result for the period as a percentage of total average assets.	Value presented as "0.0"
Quarterly values are not annualised	Amount below SEK 50,000
Average number of shares	Value presented as "-"
	No amount applicable

Income Statement – Parent Company

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Revenue	29.6	32.5	106.7	94.6
Cost of goods sold	-9.8	-9.8	-32.5	-27.5
Gross result	19.8	22.7	74.2	67.1

Cost of sales and marketing	-7.0	-7.0	-26.6	-25.0
Cost of administration	-2.6	-2.4	-9.6	-8.6
Cost of research & development	-3.1	-2.9	-11.8	-11.6
Other operating income	-0.3	0.0	2.6	0.0
Other operating costs	0.0	-0.8	0.0	-0.8
Operating result	6.8	9.6	28.8	21.1
Financial income	-1.0	-0.2	0.1	1.1
Financial costs	0.5	0.0	-2.3	-0.1
Financial net	-0.5	-0.3	-2.2	1.0
Result before income tax	6.4	9.4	26.6	22.1
Income tax	0.0	0.0	4.0	0.0
Result for the period	6.4	9.3	30.6	22.1
Result attributable to:
Equity holder of the parent company	6.4	9.3	30.6	22.1
Non-controlling interests	-	-	-	-
Earnings per share, SEK	0.9	1.3	4.3	3.1
Earnings per share, diluted, SEK	0.9	1.3	4.3	3.1
Number of shares at the close of the period, thousands	7090.1	7090.1	7090.1	7090.1
Average number of shares, thousands	7090.1	7090.1	7090.1	7090.1
Average number of shares, diluted	7090.1	7090.1	7090.1	7090.1

Statement of Result and Other Comprehensive Income – Parent Company

	October−December		January−December
Amounts in SEK million	2021	2020	2021	2020
Result for the period	6.4	9.3	30.6	22.0
Total comprehensive income for the period	6.4	9.3	30.6	22.0

Balance Sheet – Parent Company

	31 Dec	31 Dec	30 Sep	30 Sep
Amounts in SEK million	2021	2020	2021	2020
ASSETS
Intangible assets	5.9	6.2	6.5	6.1
Tangible assets	2.9	2.8	3.1	2.5
Other long term receivables	6.1	7.4	6.0	7.7
Deferred tax asset	48.1	44.1	48.1	44.1
Total fixed assets	63.0	60.5	63.6	60.4
Inventory	10.3	9.3	10.7	12.2
Short-term receivables	29.0	30.7	29.6	27.2
Short term deposits and cash at bank and in hand	23.8	22.7	33.4	42.0
Total current assets	63.0	62.7	73.7	81.4
Total assets	126.0	123.2	137.3	141.8
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity*	102.9	100.7	110.7	116.2
Current liabilities	23.1	22.5	26.6	25.6
Total liabilities	23.1	22.5	26.6	25.6
Total shareholders' equity and liabilities	126.0	123.2	137.3	141.8

Statement of Changes in Equity – Parent Company

	Restricted Equity			Unrestricted Equity
			Reserve	Share	Results	Results
	Share	Statutory	Developm.	Premium	brought	for the	Total
Amounts in SEK million	Capital	Reserve	Costs	Reserve	Forward	Year	Equity
Opening balance 1 January 2020	7.1	9.5	5.2	35.3	-0.1	46.4	103.4
Appropriation of last year's result	-	-	-	-	46.4	-46.4	0.0
Capitalised development costs	-	-	1.2	-	-1.2	-	0.0
Depreciation, development costs	-	-	-1.4	-	1.4	-	0.0
Total comprehensive income	-	-	-	-	-	22.0	22.0
Dividend	-	-	-	-	-24.8	-	-24.8
Closing balance 31 December 2020	7.1	9.5	5.0	35.3	21.7	22.0	100.7
Opening balance 1 January 2021	7.1	9.5	5.0	35.3	21.7	22.0	100.7
Appropriation of last year's result	-	-	-	-	22.0	-22.0	0.0
Capitalised development costs	-	-	1.9	-	-1.9	-	0.0
Depreciation, development costs	-	-	-2.0	-	2.0	-	0.0
Total comprehensive income	-	-	-	-	-	30.6	30.6
Dividend	-	-	-	-	-28.4	-	-28.4
Closing balance 31 December 2021	7.1	9.5	5.0	35.3	15.3	30.6	102.9

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3200_10-k_2022-02-08_75ac99db-46bb-466e-9802-96b9b87b25c1.pdf