Brief: Nilar To Produce New Generation, Larger Battery In 2027

NILAR INTERNATIONAL AB

11/08/2023 07:38

Aug 11 (Reuters) - Nilar International AB  NILAR.ST :
    * PRESENTS UPDATED BUSINESS PLAN, ADOPTS NEW TARGETS FOR THE
PERIOD UP TO AND INCLUDING 2027 AND REVIEWS THE COMPANY'S
FINANCING ALTERNATIVES
    * BUSINESS PLAN INCLUDES BOTH LAUNCH OF TWO NEW VERSIONS OF
NILAR'S BATTERY AND SIGNIFICANT INVESTMENTS IN ADDITIONAL
PRODUCTION CAPACITY
    * INTENDS TO IMPLEMENT A NUMBER OF MEASURES TO IMPROVE
COMPANY'S
FINANCIAL STRUCTURE AND FINANCIAL POSITION
    * BOARD HAS DECIDED TO CARRY OUT IMPAIRMENTS OF PARTS OF TWO
PRODUCTION LINES FOR CURRENT GENERATION BATTERIES OF ABOUT SEK
69 MLN
    * IN 2027, NILAR PLANS TO START COMMERCIAL PRODUCTION OF A
COMPLETELY NEW GENERATION OF BATTERIES WITH A LARGER SIZE
    * REVIEW OF COMMITMENT IN PALDISKI, ESTONIA, IS UNDERWAY
    * BOARD HAS DECIDED TO CARRY OUT A WRITE-DOWN OF PARTS OF
TWO
PRODUCTION LINES FOR CURRENT GENERATION BATTERIES BY ABOUT SEK
69 MLN
    * INTENDS TO ESTABLISH AT LEAST FOUR NEW COLLABORATIONS WITH
ESTABLISHED SYSTEM INTEGRATORS PER YEAR THAT ALREADY ADDRESS
PRIORITIZED MARKETS AND MARKET SEGMENTS
    * ASSESSES THAT IMPLEMENTATION OF BUSINESS PLAN AND
AFOREMENTIONED
FOCUS AREAS UNTIL 2027 REQUIRES FUNDING CORRESPONDING TO ABOUT
SEK 1.2 BLN
    * FINANCIAL TARGET: TURNOVER THAT EXCEEDS SEK 1.5 BLN FOR
FULL
YEAR 2027
    * FINANCIAL TARGET: POSITIVE CASH FLOW FROM SECOND HALF OF
2027
    * FINANCIAL TARGET: LONG-TERM EBITDA MARGIN OF AT LEAST 25
PERCENT

Source text for Eikon:  ID:nWkrKww7F 
Further company coverage:  NILAR.ST 

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