OPCON: Interim Report January–march 2013

ÅMÅL, Sweden--(BUSINESS WIRE)--

Regulatory News:

Chinese business is important as turnaround begins

OPCON AB (PUBL)(OPCO.ST), THE ENERGY AND ENVIRONMENTAL TECHNOLOGY GROUP

· Sales up 37% with improved margins compared with Q4 2012

· Strong reduction in loss compared with Q4 2012

· Ongoing savings programme has produced positive initial effects – estimated reduction of costs on annual basis of SEK 10-15 million

· Licence agreement for bioenergy in Baltic States starting to generate royalties

· Snowman in China becomes new owner, growing customer and strategic partner

Q1, January–March 2013, remaining business

· Net sales amounted to SEK 75.6 million (100.5 m)

· Operating loss (EBIT) was SEK 9.3 million (–10.7 m)

· Loss after tax of SEK 14.1 million (–9.8 m)

· Earnings per share SEK –0.05 (–0.06)

Important events after the end of the period

· Restructuring within bioenergy, low temperature driers wound up

· Directed placement of shares for Snowman of China paving the way for further development of strategic collaboration. New issue of 34,441,415 shares at SEK 0.78 per share for Hong Kong Snowman Technology Ltd., a wholly owned subsidiary of Fujian Snowman Co. Ltd., Fuzhou, Fujian, China. Raises over SEK 26 million for Opcon after costs.

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