Slide 1: Q2 report 2024
Q2 report 2024 Magnus Henell, acting CEO Cecilia Ohlauson, Director Regulatory Affairs August 23rd, 2024
Slide 2: Company, how and purpose: Selektope growth opportunity
COMPA NY Growth Opportunity • >30 available products using Total market opportunity for Selektope® Selektope®: 350-500 MUSD P URP O • 6 of the 9 largest paint companies • >20 MT Selektope® delivered since SE ? start W HO • > 2500 ships using the technology COMPANY HOW? PURPOSE • Listed • Proven ingr
Slide 3: Continued growth in turnover and profit
Continued growth in turnover and profit Sales 42.6 (32.7) MSEK growth “Japan and Korea currently most significant markets EBIT 24% (23%) contributing with 35% margin resp 50% of sales” Net 8.7 (7.0) MSEK result
Slide 4: Selektope – in the right window of opportunity
Selektope® – in the right window of opportunity 1 2 3 Reduce Emissions Protect Marine Eco-systems Material optimisation Sea borne trade stands for 2.3 - Trend to move towards a more 2.6% of global CO2 emissions. 100 optimized biocidal composition in million tonnes CO2 potential paints for reduced le
Slide 5: IMO goes Net-Zero on GHG by 2050
IMO goes Net-Zero on GHG by 2050 Indicative check point: Carbon 70% reduction Intensity of total annual Index GHG, striving (operational) for 80% 2030 2040 2050 40% reduction Net-Zero GHG of CO2 per emissions by Energy transport work. 2050 Efficiency (around 800 MT Design Index EU Emission Intro of
Slide 6: Regulatory milestone plan in EU
Regulatory milestone plan in EU Vote in Standing Committee on Discussion in Biocidal Products Standing Committee March 2025 (tbc) Socio-economic on Biocidal Products analysis December 2024 (tbc) Member States in SCBP BPC opinion vote on final proposal End-August / Member States in from European 21 M
Slide 7: Socio-economic analysis
Socio-economic analysis • ECHA has concluded that medetomidine is an endocrine disruptor and therefore should not be renewed for use, including as Selektope. • We believe that this conclusion results from a fallacious scientific assessment. Process • Nonetheless, approval may still be renewed if con
Slide 8: How can you support?
How can you support? PUBLIC CONSULTATION: TIMING AND DETAILS INFORMATION YOU CAN INCLUDE • The public consultation will open soon (end • Details on medetomidine’s economic and of August / beginning of September). environmental benefits for the world’s • It will be accessible on ECHA’s website. shipp
Slide 9: Customer activity continues on compelling levels
Customer activity continues on compelling levels Customer A • Global framework to Customer reduce carbon footprint B drives increase in share of Customer wallet for premium C antifouling, such as Customer Selektope containing D products. Customer E • Implementation of Korean Customer legislation (<1
Slide 10: Strong sales development
Strong sales development • Launch of new CMP products during 2021-22 increase their footprint significant, up 35% in H1 2024 vs H1 2023. • Our second largest customer is relatively flat, although on good levels, during H1 2024 vs H1 2023, but shows indication for increase over the coming periods. •
Slide 11: Our best quarter ever (again….)
Our best quarter ever (again….) Growth uptake Earnings increase despite tough cost absorption
Slide 12: Continued strong growth in turnover and profit
”Continued strong growth in turnover and profit” All amounts (MSEK) 2024 2023 Apr-Jun Apr-Jun Net Sales 42.6 32.7 Gross margin 53% 53% EBITDA 12.2 9.4 EBIT 10.2 7.4 Operating cashflow 3.9 7.6 Cash balance 83.8 69.8 Financial development Comments to the quarter • 30% growth in turnover compared to a
Slide 13: Business outlook
Business outlook • General trends towards carbon reduction continues to drive demand for Selektope containing products. • EU/BPR ED process enters an intensive phase during the coming period with the upcoming public consultation. • Operational improvement projects will continue during fall and is an
Slide 14: www.i-tech.se www.selektope.com
www.i-tech.se www.selektope.com