BoMill publishes interim report for the third quarter 2021

CEO Andreas Jeppsson comments:

“In several regions, this year’s climate conditions during growing and harvesting seasons have been problematic, producing variable quality and lower yield. This is leading, today and in the future, to a potential shortage of supply for certain quality grades, which is already reflected on the global price of crops such as barley, durum and wheat. These conditions emphasize the need to optimize the use of our resources as efficiently as possible to mitigate increasing variation of quality and potential deficit while reducing our environmental impact. BoMill’s revolutionary grain sorting technology has the potential to make such a difference, helping the global grain and food industry in responding to those challenges through sustainable and efficient production.”

Net sales and income for the third quarter (July – September 2021)      

• Net sales amounted to KSEK 339 (KSEK 0).

• Net income after financial items amounted to KSEK -4 264 (KSEK -4 725).

• Net income per share amounted to SEK -0,34 (SEK -0,68).

• Cash flow during the second quarter amounted to KSEK 7 248 (KSEK -4 624).

Net sales and income for the first nine months (January – September 2021)

• Net sales amounted to KSEK 405 (KSEK 53).

• Net income after financial items amounted to KSEK -16 983 (KSEK -15 358).

• Net income per share amounted to SEK -1,37 (SEK -2,22).

• Cash flow during the period amounted to KSEK -6 582 (KSEK 3 904).

• As of September 30, 2021, cash and cash equivalents in the Company amounted to KSEK 18 765 (KSEK 8 123).

Highlights during the third quarter

• On July 5, 2021, BoMill announced that the Company is moving ahead, focusing on setting a plan for commercialization for its new high-capacity sorting equipment. The new equipment is aimed to be launched during 2022.

• On August 15, 2021, BoMill carried out a directed share issue. The issue was subscribed by a number of key investors and raised proceeds of approximately SEK 14.3 million prior to transaction costs.

• On September 3, 2021, BoMill announced that the company’s long-term incentive program for employees was fully subscribed. The purpose of the incentive program is to strengthen the employees of the company’s interest and incentives for the company’s financial growth.

• On September 10, 2021, BoMill recruited Peter L Nilsson as business advisor. Peter L Nilsson adds substantial expertise and knowhow from international businesses and the global food industry.

• On September 16, 2021, BoMill’s management and Board of Directors along with current shareholders increased their ownership in BoMill, acquiring Industrifonden’s holdings in BoMill.

• On September 21, 2021, BoMill intensified the development project with a global player in the food industry. The parties share a mutual ambition to commercialize BoMill’s technology and have identified market segments.

• On September 28, 2021, BoMill was granted patent protection for a new detector system in China and an intention to grant patent protection in Japan.

Highlights after the third quarter    

• On October 1, 2021, BoMill signed a contract with the major grain processing company JTS Metelitca (part of Transchemexpert Group) in Russia. BoMill’s unique technology and its grain sorting equipment IQ with an order value of KSEK 450 will be installed in the JTS Metelitca’s new state-of-the art pre-cleaning grain processing plant in the Novosibirsk region.

• On October 22, 2021, BoMill’s largest shareholder Capagro SAS changed its representative in the Board of Directors. Onwards, Pierre Kiener will be the co-opted member and Tom Espiard-Cignaco will act as observer.