Brief: Spinnova H2 Oper Loss Widens To EUR 4.1 Mln

Spinnova Oyj

24/02/2022 07:13

Feb 24 (Reuters) - Spinnova Oyj  SPINN.HE :
    * SPINNOVA PLC'S FINANCIAL STATEMENTS BULLETIN
JANUARY-DECEMBER
2021: SCALING ACCELERATES AND FIRST TECHNOLOGY SALES MATERIALISE
    * H2 REVENUE GREW TO EUR 5 661 THOUSAND (EUR 168 THOUSAND).
    * H2 OPERATING LOSS FOR PERIOD WAS EUR 4 079 THOUSAND (EUR 3
480
THOUSAND LOSS)
    * DIVIDEND: COMPANY DOES NOT EXPECT TO DISTRIBUTE A DIVIDEND
IN
SHORT TO MEDIUM TERM.
    * BOARD OF DIRECTORS PROPOSES TO ANNUAL GENERAL MEETING THAT
NO
DIVIDEND BE DISTRIBUTED FOR FINANCIAL YEAR JANUARY-DECEMBER
2021, AND THAT LOSS OF FINANCIAL YEAR IS RECORDED IN RETAINED
EARNINGS.
    * OUTLOOK: DURING 2022, SPINNOVA'S REVENUES ARE EXPECTED TO
GROW
IN COMPARISON TO 2021, DRIVEN PRIMARILY BY HIGHER TECHNOLOGY
SALES OF PROJECT DELIVERIES TO WOODSPIN AND RESPIN.
    * OUTLOOK:  DURING 2022, WHILST SPINNOVA FOCUSES ON
INVESTING IN
GROWTH AND PRODUCTION SCALING, COMPANY IS NOT EXPECTED TO BE
PROFITABLE.

Source text for Eikon:  ID:nWkrMVRWD 
Further company coverage:  SPINN.HE 

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