Brief: Azelio Will Not Reach 2023 Delivery Target

Azelio AB

17/01/2023 07:04

Jan 17 (Reuters) - Azelio AB  AZELIO.ST :
    * SAID ON MONDAY, WILL NOT REACH 2023 DELIVERY TARGET
    * TIME IT TAKES TO CONVERT ONGOING BUSINESS DISCUSSIONS INTO
SIGNED AGREEMENTS IS STILL LONGER THAN ANTICIPATED
    * CONSEQUENTLY SALES AND COMMERCIALIZATION ARE DELAYED AND
SEVERAL
OF PREVIOUSLY PLANNED DELIVERIES FOR 2023 ARE UNLIKELY TO BE
DELIVERED UNTIL 2024
    * THEREFORE FORECAST FOR WHEN POSITIVE CASH FLOW IS REACHED
WILL
BE DELAYED, WHICH WILL ENTAIL NEED FOR ADDITIONAL FINANCING IN
2023
    * BOARD AND MANAGEMENT ARE WORKING ON SECURING ADDITIONAL
FINANCING FROM DEBT AND/OR EQUITY INVESTORS
    * PROCESS OF SECURING FINANCING FOR CO'S PART IN PROJECT IN
EGYPT,
AS WELL AS DETAILING FINAL TERMS WITH SAVE CLEANTECH UTILITIES,
IS STILL ONGOING, WHICH IS DELAYING DELIVERIES
    * IN NEAR TERM, CO IS FOCUSING ON CREATING MORE BUSINESS IN
SOUTHERN AFRICA AND MENA, WHERE TRANSITION TO DIRECT SALES
BUSINESS MODEL CAN BE EXPECTED TO HAPPEN FIRST
    * IS ALSO INTENSIFYING ITS STRATEGIC EFFORTS TOWARDS THE
USA,
WHICH IS THE MARKET EXPECTED TO BE THE LARGEST MID/LONG-TERM

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN3lQPKQ
 Further company coverage:  AZELIO.ST  
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