Getting its name out there

Sales SEK 7.6m (12.2m), adj. EBIT SEK -18.0m (-8.6m). Several strategic agreements signed, investing and marketing. Roll-out of eMELT-iD in '24, expect 5-10 machines, first in Q2.

Sales higher, and so were investments

Q4'23 results fast comment

We shift some volume from '24e to '25e

Q4e: Two deliveries, sales only SEK 3.6m due to payment model. '24e the year of e-MELT ID, '25e the year of e-MELT IM. Expect a more careful roll-out of e-MELT; we change ests accordingly.

eMELT is approaching

Sales SEK 8.2m, up 2% y-o-y: one delivery, two orders. First eMELT delivery in '24e now highly likely. Management comment provides potential upside to '25 estimates.

Incremental eMELT progress

Freemelt Q3'23 results fast comment

First eMELT agreement supports estimates

Q3e: Two Freemelt ONE deliveries, sales SEK 10.3m, up 28% y-o-y. First eMELT agreement with large global production company. No significant estimate changes, but agreement supports '24e-'25e.

Progress behind the scenes

Strides in tungsten and titanium processing. Commercialised sales organisation will drive order flow. Anticipate initial e-MELT delivery in Q1'24, increase gross margin.

Commercialisation efforts underway

Low H1 revenue, but progress behind the scenes. Target: SEK 1bn company by 2030, with 25% recurring revenues. Long-term outlook unchanged, fair value SEK 10-20.

Announces 2030 strategy

Sales SEK +0.8m and adj. EBIT -7% vs. ABGSCe. Multiple Freemelt ONE orders taking longer to land, but none lost. Announces 2030 strategy, aims to be a billion SEK company

M&A action in the 3D-printing space

One order and expected delivery in Q2. Estimate reductions on low order intake, but volatility expected. 3D-printing bidding war demonstrates interest in tech's potential.

Preparing for growth

Good cost control and FCF despite no orders. Sales organisation restructured to increase future sales. eMELT to be finished in '23, first deliveries expected in '24.

Positive FCF despite low sales

A lull in orders in Q1

No new orders in Q1, one new order in Q2. Quarterly goodwill amortisation to double from SEK 6m to SEK 12m. Maintain long-term outlook, fair value range of SEK 10-20.

Freemelt at ABGSC's Investor Days

Moving into the commercial phase

Finishes 2022 with record sales of SEK 36m; in good financial health following directed share issue; continues to perform well, fair value SEK 10-20.