Quarterly Report • Aug 18, 2021
Quarterly Report
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Annualised series production for the second quarter recovered to 3.2 million Engine Equivalents, double the year-ago volume and corresponding to 97% of the full-year pre-Covid volume of 3.3 million Engine Equivalents.
Annualised series production increased throughout the quarter, growing from 3.1 million Engine Equivalents in April to 3.2 million in May and 3.3 million in June, providing four consecutive months above the three million Engine Equivalent benchmark. Second quarter production amounted to 3.2 million Engine Equivalents, exactly double the volume of 1.6 million Engine Equivalents at the low-point of the Covid cycle in the second quarter of 2020, and effectively equalling the full-year pre-Covid volume of 3.3 million Engine Equivalents.
The second quarter also provided record Sampling Cup shipments. In total, 73,600 Sampling Cups were shipped, corresponding to an 11% increase over the previous quarterly record set in 2018. While the increase reflects the positive outlook for series production, some of the increase is also undoubtedly related to the uncertainty in global supply chains, with foundries increasing the security of their stock levels. Ultimately, the increases in second quarter Sampling Cup shipments and series production volume were partially offset by lower year-on-year installation revenue and a 13% decrease in the US dollar exchange rate to provide revenue of SEK 28.2 million, corresponding to a 51% year-on-year gain.
The ongoing semiconductor supply challenges have resulted in vehicle production stoppages in some of our key high-volume programmes, and will continue to affect volumes in the second-half of the year. In our largest end-user market in North America, semiconductor shortages have led to all-time low vehicle inventory levels and strong demand for new vehicles. Ultimately, the pent up demand and the need to rebuild vehicle inventories provides the basis for a strong and sustained production outlook that is expected to drive demand into 2023. The production outlook is also buoyed by the pending start of commercial vehicle engine production at FAW in China and at Scania in Sweden, with initial contributions beginning in the second half of the year followed by strong growth in 2022 and 2023.
Influenced by travel restrictions, much of the 2021 installation activity has been deferred to the second half of the year. Installation revenue for the first half of the year amounted to SEK 1.7 million, primarily from spare parts. The second half of 2021 provides a busy outlook, with a Mini-System 4000 installation for product development at an undisclosed industrial power foundry in Asia; a System 4000 installation at the Impro foundry in Mexico; a Ladle Tracker installation at the Hyundai foundry in Korea; and, the final start-up support at FAW in China and Scania in Sweden. Together, these activities are expected to increase the installation revenue toward the historical full-year average by year-end. In parallel with the increased installation activities, a Mini-System 3000 that was sold to an undisclosed Asian client in 2012 for product development was returned to SinterCast following the conclusion of the development programme. The return has no effect on the financial results or the series production outlook.
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.
The revenue for the SinterCast Group relates primarily to income from equipment, series production and engineering service.
| Revenue Breakdown | April−June | January−June | ||||
|---|---|---|---|---|---|---|
| (Amounts in SEK million) | 2021 | 2020 | 2021 | 2020 | ||
| Equipment1 | 0.2 | 6.1 | 1.7 | 6.5 | ||
| Series production2 | 27.8 | 12.5 | 50.2 | 36.3 | ||
| Engineering service3 | 0.2 | 0.1 | 0.6 | 0.5 | ||
| Total | 28.2 | 18.7 | 52.5 | 43.3 | ||
| Number of Sampling Cups shipped | 76,300 | 19,800 | 120,900 | 64,900 |
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 services, demonstrations and test pieces
The April−June 2021 revenue amounted to SEK 28.2 million (SEK 18.7 million). Series production revenue amounted to SEK 27.8 million (SEK 12.5 million) following annualised series production of 3.2 million (1.6 million) Engine Equivalents and record Sampling Cup shipments of 76,300 (19,800) units. Equipment revenue amounted to SEK 0.2 million (SEK 6.1 million).
The January−June 2021 revenue amounted to SEK 52.5 million (SEK 43.3 million). Series production revenue amounted to SEK 50.2 million (SEK 36.3 million) following annualised series production of 3.1 million (2.2 million) Engine Equivalents and record shipment of 120,900 (64,900) Sampling Cups. Equipment revenue amounted to SEK 1.7 million (SEK 6.5 million). Engineering Service amounted to SEK 0.6 million (SEK 0.5 million).
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 | April−June | January−June | |||
|---|---|---|---|---|---|
| (Amounts in SEK million if not otherwise stated) | 2021 | 2020 | 2021 | 2020 | |
| Operating result | 7.2 | 0.9 | 15.7 | 8.7 | |
| Result for the period after tax | 11.4 | 3.0 | 18.3 | 9.6 | |
| Earnings per share (SEK) | 1.6 | 0.4 | 2.6 | 1.3 |
The April−June 2021 operating result amounted to SEK 7.2 million (SEK 0.9 million), primarily because of a SEK 9.5 million increase in revenue, resulting in a SEK 6.8 million increase in gross margin, combined with an increase in operating costs of SEK 2.2 million, primarily due to increases in the number of employees and decreased other operating income of SEK 1.7 million. Tax income amounted to SEK 4.0 million following the revaluation of the deferred tax asset. The result for the period after tax amounted to SEK 11.4 million (SEK 3.0 million). During the period, no government support in relation to Covid-19 has been received.
The January−June 2021 operating result amounted to SEK 15.7 million (SEK 8.7 million), primarily because of a SEK 9.2 million increase in revenue, resulting in a SEK 6.4 million increase in gross margin, combined with an increase in operating costs of SEK 1.4 million, primarily due to increases in the number of employees and increased other operating income of SEK 1.9 million. Tax income amounted to SEK 3.9 million primarily following the revaluation of the deferred tax asset. The result for the period after tax amounted to SEK 18.3 million (SEK 9.6 million). During the period, no government support in relation to Covid-19 has been received.
| Cashflow Summary | January−June | Cashflow Changes | |
|---|---|---|---|
| (Amounts in SEK million if not otherwise stated) | 2021 | 2020 | 2021 vs 2020 |
| Cashflow from operations, before change in working capital | 16.8 | 10.6 | 6.2 |
| Change in working capital | -1.4 | 10.4 | -11.8 |
| Cashflow from operations | 15.4 | 21.0 | -5.6 |
| Cashflow from investing activities | -2.3 | -4.0 | 1.7 |
| Cashflow from financing activities | -14.7 | -0.6 | -14.1 |
| Cashflow total | -1.6 | 16.4 | -18.0 |
| Liquidity | 24.7 | 49.3 |
The January−June 2021 cashflow from operations decreased by SEK 5.6 million, compared to same period last year, due to increased working capital of SEK 11.8 million primarily related to increased operating receivables. Total investments amounted to SEK 2.3 million (SEK 4.0 million). Cashflow from financing activities decreased by SEK 14.1 million, primarily due to the first dividend payment in the amount of SEK 14.2 million (SEK 0.0 million). Total cashflow amounted to SEK -1.6 million (SEK 16.4 million). Liquidity on 30 June 2021 was SEK 24.7 million (SEK 49.3 million). SinterCast has no loans.
Tax income for the January−June 2021 period amounted to SEK 3.9 million (SEK 0.0 million), of which SEK 4.0 million was due the reassessed deferred tax calculation and SEK -0.1 million was due to paid income tax. The estimated future taxable profit and deferred tax asset calculation is reassessed every quarter. As of 30 June 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 eight-year average currency rates.
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 through much of 2021, 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 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 the Covid-19 virus.
For additional risk and uncertainty factor information, see Note 26 on pages 65–70 in the SinterCast Annual Report 2020.
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 30 June 2021, the Group had 30 (25) 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.
SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm, Sweden. On 30 June 2021, the Parent Company had 25 (20) employees. The average number of employees during the period was 24 (20). 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.
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.
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.
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.
The Annual General Meeting (AGM) of the shareholders, held on 18 May 2021, decided upon the reappointment of Board members Jan Åke Jonsson, Robert Dover, Jun Arimoto, Steve Gill, Åsa Källenius and Steve Dawson, with Mr Jonsson being reappointed as Chairman.
The Annual General Meeting (AGM) of the shareholders also decided on a dividend of SEK 4.00 per share (totally SEK 28,360,532) for the financial year 2020. The dividend is divided into two equal payments of SEK 2.00 per share with the record date 20 May 2021 for the first payment and the record date 19 November 2021 for the second payment.
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 30 June 2021 that could materially change these financial statements. The following press releases have been issued:
6 July 2021 – Series production at pre-Covid levels in June 11 August 2021 – Series production reaches 3.0 million Engine Equivalents in July
Following the return to pre-Covid production levels, SinterCast will no longer issue monthly press releases to provide series production updates.
July–September 2021 3 November 2021 October–December 2021 and Full Year Results 2021 8 February 2022 January–March 2022 27 April 2022 April–June 2022 17 August 2022
This report has not been reviewed by the company's Auditors.
The Board of Directors and the CEO certify that the half-yearly financial report provides a true and fair overview of the operations, outlook, financial position and results of the Company and the group, and accurately describes the material risks and uncertainties that the Company and the companies in the group face.
Stockholm 18 August 2021
Jan Åke Jonsson Robert Dover Jun Arimoto Chairman of the Board Member of the Board Member of the Board
Steve Gill Åsa Källenius Steve Dawson Member of the Board Member of the Board President & CEO
For further information please contact:
| Dr. Steve Dawson President & CEO |
||||||
|---|---|---|---|---|---|---|
| SinterCast AB (publ) | ||||||
| +46 150 794 40 | ||||||
| +44 771 002 6342 | ||||||
| [email protected] | ||||||
| www.sintercast.com | ||||||
| 556233-6494 | ||||||
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 18 August 2021.
SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology is used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles, medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles, and industrial power engine components for agriculture, marine, rail, off-road and stationary engine applications. SinterCast supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology. 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 process control, productivity and 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
| April−June | January−June | January−December | |||||
|---|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 | |
| Revenue | 28.2 | 18.7 | 52.5 | 43.3 | 95.4 | 116.5 | |
| Cost of goods sold | -8.5 | -5.8 | -15.7 | -12.9 | -27.1 | -27.5 | |
| Gross result | 19.7 | 12.9 | 36.8 | 30.4 | 68.3 | 89.0 | |
| Cost of sales and marketing | -6.7 | -5.6 | -13.4 | -12.4 | -25.0 | -27.3 | |
| Cost of administration | -2.3 | -1.7 | -4.3 | -3.8 | -8.5 | -8.9 | |
| Cost of research & development | -2.8 | -2.3 | -5.4 | -5.5 | -11.6 | -12.0 | |
| Other operating income | -0.8 | -2.5 | 1.9 | 0.0 | 0.0 | 0.0 | |
| Other operating costs | 0.0 | 0.0 | 0.0 | 0.0 | -1.6 | -0.7 | |
| Operating result | 7.2 | 0.9 | 15.7 | 8.7 | 21.7 | 40.1 | |
| Financial income | 0.1 | 1.1 | 0.1 | 1.1 | 1.1 | 0.2 | |
| Financial costs | 0.1 | 1.1 | -1.5 | -0.2 | -0.5 | -0.4 | |
| Financial net | 0.2 | 2.2 | -1.4 | 0.8 | 0.6 | -0.2 | |
| Result before income tax | 7.4 | 3.0 | 14.3 | 9.6 | 22.3 | 39.9 | |
| Income tax | 4.0 | 0.0 | 3.9 | 0.0 | -0.1 | 8.3 | |
| Result for the period | 11.4 | 3.0 | 18.3 | 9.6 | 22.2 | 48.2 | |
| Result attributable to: | |||||||
| Equity holder of the parent company | 11.4 | 3.0 | 18.3 | 9.6 | 22.2 | 48.2 | |
| Non-controlling interests | - | - | - | - | - | - | |
| Earnings per share, SEK | 1.6 | 0.4 | 2.6 | 1.3 | 3.1 | 6.8 | |
| Earnings per share, diluted, SEK | 1.6 | 0.4 | 2.6 | 1.3 | 3.1 | 6.8 | |
| Number of shares at the close of the period, thousands | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | |
| Average number of shares, thousands | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | |
| Average number of shares, diluted | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 |
| April−June | January−June | January−December | ||||
|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 |
| Result for the period | 11.4 | 3.0 | 18.3 | 9.6 | 22.2 | 48.2 |
| Other comprehensive income | ||||||
| Items may be reclassified to the income statement | ||||||
| Translation differences, foreign subsidiaries | 0.2 | 0.1 | 0.4 | -0.2 | -0.4 | -0.2 |
| Other comprehensive income, net of tax | 0.2 | 0.1 | 0.4 | -0.2 | -0.4 | -0.2 |
| Total comprehensive income for the period | 11.6 | 3.1 | 18.7 | 9.5 | 21.9 | 48.0 |
| Total comprehensive income attributable to: | ||||||
| Shareholder of the parent company | 11.6 | 3.1 | 18.7 | 9.5 | 21.9 | 48.0 |
| Non-controlling interests | - | - | - | - | - | - |
| 30 Jun | 30 Jun | 31 Mar | 31 Mar | 31 Dec | 31 Dec | |
|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 |
| ASSETS | ||||||
| Intangible assets | 6.9 | 6.5 | 6.5 | 6.3 | 6.2 | 6.7 |
| Tangible assets* | 6.4 | 7.1 | 6.5 | 4.5 | 6.7 | 4.5 |
| Other long term receivables | 5.8 | 0.4 | 5.8 | 0.4 | 5.8 | 0.4 |
| Deferred tax asset | 48.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 |
| Total fixed assets | 67.2 | 58.2 | 62.8 | 55.3 | 62.8 | 55.8 |
| Inventory | 10.0 | 10.9 | 9.6 | 9.4 | 9.4 | 8.4 |
| Short-term receivables | 33.6 | 23.6 | 30.7 | 31.6 | 29.1 | 30.6 |
| Short term deposits and cash at bank and in hand | 24.7 | 49.3 | 31.6 | 41.5 | 26.4 | 32.9 |
| Total current assets | 68.2 | 83.7 | 71.9 | 82.5 | 64.9 | 71.8 |
| Total assets | 135.4 | 141.9 | 134.8 | 137.8 | 127.7 | 127.6 |
| SHAREHOLDERS' EQUITY AND LIABILITIES | ||||||
| Shareholders' equity | 113.3 | 121.1 | 116.2 | 118.5 | 108.8 | 111.7 |
| Long term liabilities* | 2.7 | 3.6 | 2.9 | 1.8 | 3.2 | 1.9 |
| Current liabilities* | 19.3 | 17.1 | 15.7 | 17.4 | 15.7 | 14.0 |
| Total liabilities | 22.0 | 20.7 | 18.6 | 19.2 | 18.9 | 15.9 |
| Total shareholders' equity and liabilities | 135.4 | 141.9 | 134.8 | 137.8 | 127.7 | 127.6 |
| Additional | |||||
|---|---|---|---|---|---|
| Share | Paid in | Exchange | Cumulative | Total | |
| Amounts in SEK million | Capital | Capital | Differences | Results | Equity |
| Opening balance 1 January 2020 | 7.1 | 44.9 | 1.6 | 58.1 | 111.7 |
| Total comprehensive income | - | - | -0.2 | 9.6 | 9.5 |
| Closing balance 30 June 2020 | 7.1 | 44.9 | 1.4 | 67.7 | 121.1 |
| Opening balance 1 January 2021 | 7.1 | 44.9 | 1.2 | 55.6 | 108.8 |
| Total comprehensive income | - | - | 0.4 | 18.3 | 18.7 |
| Dividend | - | - | - | -14.2 | -14.2 |
| Closing balance 30 June 2021 | 7.1 | 44.9 | 1.6 | 59.7 | 113.3 |
| April−June | January−June | January−December | ||||
|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 |
| Operating activities | ||||||
| Operating result | 7.2 | 0.8 | 15.7 | 8.7 | 21.7 | 40.1 |
| Adjustments for items not included in the cash flow | ||||||
| Depreciation | 0.8 | 0.9 | 1.9 | 1.8 | 3.7 | 3.2 |
| Other | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Unrealised exchange rate differences | 0.4 | 0.4 | -0.6 | 0.0 | 0.5 | -0.2 |
| Received interest | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Paid interest | -0.1 | 0.0 | -0.2 | 0.1 | -0.4 | -0.2 |
| Paid income tax | 0.0 | 0.0 | 0.0 | 0.0 | -0.1 | 0.0 |
| Total cashflow from operating activities | 8.3 | 2.2 | 16.8 | 10.6 | 25.4 | 43.0 |
| before change in working capital | ||||||
| Change in working capital | ||||||
| Inventory | -0.3 | -1.5 | -0.5 | -2.5 | -1.1 | -1.8 |
| Operating receivables | -2.9 | 7.9 | -4.5 | 6.9 | -3.9 | -5.3 |
| Operating liabilities | 3.7 | 3.3 | 3.6 | 6.0 | 1.7 | 2.0 |
| Total change in working capital | 0.5 | 9.7 | -1.4 | 10.4 | -3.3 | -5.2 |
| Cashflow from operations | 8.7 | 11.9 | 15.4 | 21.0 | 22.1 | 37.8 |
| Investing activities | ||||||
| Acquisition of intangible assets | -0.9 | -3.2 | -1.7 | -3.2 | -1.2 | -0.6 |
| Acquisition of tangible assets | -0.4 | -0.5 | -0.6 | -0.8 | -1.6 | -0.6 |
| Cashflow from investing activities | -1.3 | -3.7 | -2.3 | -4.0 | -2.8 | -1.2 |
| Financing activities | ||||||
| Payment lease liability | -0.1 | -0.4 | -0.5 | -0.6 | -1.1 | -1.0 |
| Dividend | -14.2 | -- | -14.2 | -- | -24.8 | -35.5 |
| Cashflow from financing activities | -14.3 | -0.4 | -14.7 | -0.6 | -25.9 | -36.5 |
| Exchange rate differences in cash and cash equivalents | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Cashflow for the period | -6.9 | 7.8 | -1.6 | 16.4 | -6.6 | 0.1 |
| Cash - opening balance | 31.6 | 41.5 | 26.3 | 32.9 | 32.9 | 32.8 |
| Cash - closing balance* | 24.7 | 49.3 | 24.7 | 49.3 | 26.3 | 32.9 |
* The cash and cash equivalents comprise short-term deposits and cash at bank and in hand
| April−June | January−June | January−December | |||||
|---|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 | |
| Key Ratio | |||||||
| Revenue* | 28.2 | 18.7 | 52.5 | 43.3 | 95.4 | 116.5 | |
| Operating result | 7.2 | 0.9 | 15.7 | 8.7 | 21.7 | 40.1 | |
| Operating margin % | 25.5 | 4.7 | 29.9 | 20.2 | 22.7 | 34.4 | |
| Result for the period* | 11.4 | 3.0 | 18.3 | 9.6 | 22.2 | 48.2 | |
| Solidity, % | 83.7 | 85.4 | 83.7 | 85.4 | 85.2 | 89.7 | |
| Shareholders' equity | 113.3 | 121.1 | 113.3 | 121.1 | 108.8 | 111.7 | |
| Capital employed | 116.0 | 124.8 | 116.0 | 124.8 | 112.0 | 113.6 | |
| Total assets | 135.4 | 141.9 | 135.4 | 141.9 | 127.7 | 127.6 | |
| Return on shareholders' equity, % | 9.9 | 2.5 | 16.4 | 8.2 | 20.2 | 45.7 | |
| Return on capital employed, % | 9.7 | 2.4 | 15.4 | 8.0 | 19.7 | 45.7 | |
| Return on total assets, % | 8.4 | 2.1 | 13.4 | 7.1 | 17.4 | 40.5 | |
| Employees | |||||||
| Number of employees at the end of the period | 30 | 25 | 30 | 25 | 28 | 23 | |
| Data per Share | |||||||
| Earnings per share, SEK* | 1.6 | 0.4 | 2.6 | 1.3 | 3.1 | 6.8 | |
| Dividends per share, SEK | 2.0 | -- | 2.0 | -- | 3.5 | 5.0 | |
| Cashflow from operations per share, SEK | 1.2 | 1.7 | 2.2 | 3.0 | 3.9 | 5.3 | |
| Share price at the end of the period, SEK | 146.6 | 142.6 | 146.6 | 142.6 | 124.2 | 195.0 |
* 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.
| Weighted average of the number of shares outstanding for the |
|---|
| period |
| Average number of shares adjusted for dilution |
| Weighted average of the number of shares for the period adjusted |
| for dilution |
| Earnings per share |
| Result for the period divided by the average number of shares |
| Earnings per share, diluted |
| Result for the period divided by the average number of shares |
| adjusted for dilution |
| Dividend per share |
| Dividend divided by the number of shares |
| Cashflow from operations per share |
| Cashflow from operations divided by the number of shares |
| Share price at the end of the period |
| Latest paid price for the SinterCast share at NASDAQ Stockholm |
| Value presented as "0.0" |
| Amount below SEK 50,000 |
| Value presented as "-" |
| No amount applicable |
| April−June | January−June | January−December | ||||
|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 |
| Revenue | 27.9 | 18.4 | 52.1 | 42.9 | 94.6 | 115.2 |
| Cost of goods sold | -8.5 | -5.5 | -15.7 | -12.8 | -27.5 | -27.8 |
| Gross result | 19.4 | 12.9 | 36.4 | 30.1 | 67.1 | 87.4 |
| Gross result % | 70% | 70% | 70% | 70% | 71% | 76% |
| Cost of sales and marketing | -6.9 | -5.9 | -13.6 | -12.7 | -25.0 | -27.3 |
| Cost of administration | -2.4 | -1.7 | -4.3 | -3.9 | -8.6 | -8.9 |
| Cost of research & development | -2.8 | -2.3 | -5.4 | -5.6 | -11.6 | -12.0 |
| Other operating income | -0.6 | -2.1 | 1.7 | 0.0 | 0.0 | 0.0 |
| Other operating costs | 0.0 | 0.0 | 0.0 | 0.0 | -0.8 | -1.2 |
| Operating result | 6.8 | 0.9 | 14.9 | 7.9 | 21.1 | 38.0 |
| Financial income | 0.1 | 1.1 | 0.1 | 1.1 | 1.1 | 0.2 |
| Financial costs | 0.2 | 1.1 | -1.3 | -0.1 | -0.1 | -0.1 |
| Financial net | 0.3 | 2.2 | -1.2 | 1.0 | 1.0 | 0.1 |
| Result before income tax | 7.1 | 3.1 | 13.7 | 8.9 | 22.1 | 38.1 |
| Income tax | 4.0 | 0.0 | 4.0 | 0.0 | -0.1 | 8.3 |
| Result for the period | 11.1 | 3.1 | 17.6 | 8.9 | 22.0 | 46.4 |
| Result attributable to: | ||||||
| Equity holder of the parent company | 11.1 | 3.1 | 17.6 | 8.9 | 22.0 | 46.4 |
| Non-controlling interests | - | - | - | - | - | - |
| Earnings per share, SEK | 1.6 | 0.4 | 2.5 | 1.3 | 3.1 | 6.5 |
| Earnings per share, diluted, SEK | 1.6 | 0.4 | 2.5 | 1.3 | 3.1 | 6.5 |
| Number of shares at the close of the period, thousands | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 |
| Average number of shares, thousands | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 |
| Average number of shares, diluted | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 | 7090.1 |
| Amounts in SEK million | April−June | January−June January−December |
||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | 2020 | 2019 | |
| Result for the period | 11.1 | 3.1 | 17.6 | 8.9 | 22.0 | 46.4 |
| Total comprehensive income for the period | 11.1 | 3.1 | 17.6 | 8.9 | 22.0 | 46.4 |
| 30 Jun | 30 Jun | 31 Mar | 31 Mar | 31 Dec | 31 Dec | |
|---|---|---|---|---|---|---|
| Amounts in SEK million | 2021 | 2020 | 2021 | 2020 | 2020 | 2019 |
| ASSETS | ||||||
| Intangible assets | 6.9 | 6.5 | 6.5 | 6.3 | 6.2 | 6.7 |
| Tangible assets | 3.0 | 2.4 | 2.8 | 1.7 | 2.8 | 1.8 |
| Other long term receivables | 7.4 | 2.3 | 7.4 | 2.3 | 7.4 | 2.3 |
| Deferred tax asset | 48.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 |
| Total fixed assets | 65.4 | 55.3 | 60.8 | 54.4 | 60.4 | 54.9 |
| Inventory | 9.8 | 10.7 | 9.5 | 9.3 | 9.3 | 8.3 |
| Short-term receivables | 35.8 | 24.9 | 32.7 | 32.8 | 30.7 | 32.2 |
| Short term deposits and cash at bank and in hand | 21.9 | 47.7 | 28.2 | 39.0 | 22.7 | 30.5 |
| Total current assets | 67.4 | 83.4 | 70.4 | 81.1 | 62.7 | 71.0 |
| Total assets | 132.8 | 138.7 | 131.3 | 135.5 | 123.2 | 125.9 |
| SHAREHOLDERS' EQUITY AND LIABILITIES | ||||||
| Shareholders' equity* | 104.1 | 112.3 | 107.1 | 109.2 | 100.7 | 103.4 |
| Current liabilities | 28.7 | 26.3 | 24.1 | 26.3 | 22.5 | 22.4 |
| Total liabilities | 28.7 | 26.3 | 24.1 | 26.3 | 22.5 | 22.4 |
| Total shareholders' equity and liabilities | 132.8 | 138.7 | 131.3 | 135.5 | 123.2 | 125.9 |
| Restricted Equity | Unrestricted Equity | ||||||
|---|---|---|---|---|---|---|---|
| Reserve | Share | Results | Results | ||||
| Share | Statutory | Develop | Premium | Brought | for the | Total | |
| Amounts in SEK million | Capital | Reserve | ment Costs | Reserve | Forward | Year | Equity |
| Open 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 | - | - | -0.7 | - | 0.7 | - | 0.0 |
| Depreciation, development costs | - | - | 0.7 | - | -0.7 | - | 0.0 |
| Total comprehensive income | - | - | - | - | - | 8.9 | 8.9 |
| Closing balance 30 June 2020 | 7.1 | 9.5 | 5.2 | 35.3 | 46.3 | 8.9 | 112.3 |
| Open 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 | - | - | 1.7 | - | -1.7 | - | 0.0 |
| Depreciation, development costs | - | - | -0.8 | - | 0.8 | - | 0.0 |
| Total comprehensive income | - | - | - | - | - | 17.6 | 17.6 |
| Dividend | - | - | - | - | -14.2 | - | -14.2 |
| Closing balance 30 June 2021 | 7.1 | 9.5 | 5.9 | 35.3 | 28.7 | 17.6 | 104.1 |
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