News & Media

SeaTwirl interim report Q1

Today we have published the interim report.

Read the Swedish press release translated into English here.

The report is available for download, in Swedish only, under Investor Relations.

 

IMPORTANT EVENTS

Important events during the period (2017-09-01 – 2017-11-30)

  • Granted 500 000 SEK of funding from Vinnova
  • Granted European patent for a turbine construction that can withstand hard winds
  • Started a Norwegian subsidiary
  • Participated at the Stora Aktiedagen in Stockholm

 

Important events after the period (2017-12-01 –)

  • Another two people hired, one of whom for business development
  • Granted US patent for solution which optimizes rotational speed

 

FINANCIAL DEVELOPMENT

Financial development during the period (2017-06-01 – 2017-08-31)

  • Turnover was 0 SEK (0) and the operating result was -1 172 182 SEK (-892 293). The negative result is attributable to development costs, including personnel cost.
  • Balanced development cost amounted to 12 049 675 SEK at the end of the period (9 863 665), in addition to patent costs of 729 619 SEK (597 699).
  • Cashflow for the period amounted to -1 529 751 SEK (-703 204). Cash amounted to 16 517 350 SEK (319 037) at the end of the period.
  • Shareholder’s equity amounted to 27 545 628 SEK (9 078 169) at the end of the period, of which the result for the fiscal year (2017-09-01 – 2017-11-30) amounted to -1 175 475 SEK (-899 140). No changes other than the result for the period and transfer to Fund for development costs has affected the shareholder’s equity during the fourth quarter.
25 January 2018

Are you interested in our products?

Interested in how SeaTwirl can help your energy project deliver renewable energy at the lowest cost available? Welcome to contact us for a more in-depth presentation of our products and projects!

Sign up for news or website updates

Contact us by phone or email

Gabriel Strängberg

Managing Director

gabriel.strangberg@seatwirl.com

Phone: +46 70-480 55 29