Year end report 2020-2021

2nd half Jan-Jun

  • Net sales increased to 3,0 MSEK (1,2)
  • Gross margin improved significantly from -18% to 8 %
  • Operating costs incl. D&A amounted to -14,2 MSEK (-9,8)
  • Opereting loss increased to -11,1 MSEK (-8,4)
  • Net result was -11,3 MSEK (-9,0)
  • Cash flow from operations was -6,1 MSEK (-1,3)

Full year

  • Net sales increased to 5,7 MSEK (3,2)
  • Gross margin improved significantly from -29% to 21%
  • Operating costs incl. D&A amounted to -27,6 MSEK (-21,4)
  • Opereting loss increased slightly to -21,7 MSEK (-21,1)
  • Net result was -25,3 MSEK (-23,2)
  • Cash flow from operations was -14,4 MSEK (-28,6)

Significant events of second half

  • Break through order to Big Pharma delivered on time in full
  • First large Streel Light order received and delivered on time in full to Metsä Group
  • Sales pipeline reached record high level 82 MSEK

Significant events of the full year

  • Break through customer won from Big Pharma
  • Successful rights issue 32 MSEK carried out in Autumn 2020
  • Re-orders from key industrial customers consolidated sales
  • Sales strategy changed putting more focus on partnerships

Significant events after the period

Continued funding secured: the Board of Directors resolved to initiate and to make preparations to carry out a rights issue of MSEK 26 in October to secure going concern. G&W Fondkommission was tasked to manage the rights issue and syndicate a guarantee of approximately 90 percent, i.e. 23 MSEK. The guarantee syndication has been successfully completed whereby Meltron has certainty of successful issue. The rights issue will require changes of share capital to be resolved by the Annual General Meeting 1st Oct and will be carried out between 6th Oct and 20th Oct 2021. The issue will allow Meltron to invest in further business growth, production capacity and finances working capital, incl. repayment of short-term loans.

A word from the CEO

Meltron strengthened its customer and partner relationships in the second half of our financial year despite a very challenging operating environment. Our sales grew by 51% year on year and we would have grown further without the corona restrictions and the supply constraints of key electronic components which started towards the end of the period. The re-start of the global economy has indeed created a new problem of greatly lengthened supply chain in everything ranging from special plastics to key electronic components. Early in 2021 we decided to make some strategic purchases to mitigate part of the problems. We consider the supply constraints a medium-term issue. Moreover, due to the re-start of the economy we have now re-engaged several large projects, especially in the Middle-East, where our pipeline is at a record high level. An important element in revenue generation was the repeat orders from several large industrial customers indicating the lengthy testing period of our solutions has turned into recognition of our superior quality. We expect steady growth from these relationships during the next financial year.

Furthermore, Meltron has undergone a thorough strategy review and fine-tuning process wherein every employee of the company took part. The major changes are twofold. Firstly, we concluded that the focus of our product development strategy now shifts from creating entirely new solutions to improving our existing solutions for key applications. This will reduce the one-off costs somewhat while the focus of our entire organization is sales generation and servicing our customers with even better lighting solutions.

The second major change is the overhaul of our sales strategy resulting in adding great focus on selling through partnerships. While we intend to maintain and strengthen our direct sales which are important for end customer closeness, we expect the partnerships to generate meaningful sales growth going forward. At the heart of our partnership strategy are three core multi-national partnerships under development. We are in advanced negotiations with a partner for our Explosive Proof or ATEX product family; secondly, for our Road & Street product family we are negotiating with a partner that intends to integrate our lighting solution with their Smart City concept; and thirdly, we are negotiating with a leading global brand for a partnership in industrial lighting solutions. In addition to established customer networks, the partners are all providers of lighting control systems, which strengthen Meltron's offering and enable Meltron to provide "more than just light".

The partnerships have been the missing piece of our puzzle. We have technologically superior and proven lighting solutions but we have been lacking sufficient channels to scale up our sales. Direct contact to customers will remain a central enabler for maintaining product superiority while achieving sufficient volume and therethrough profitability will be achieved by working closely together with our new partners. Thereby, we look to the future with great confidence and we expect a commercial break-through during next financial year.

Stockholm/Helsinki, August 2021
Ville Sistonen, CEO
Meltron AB

Appropriation of profit, disclosure etc.

The Board of Directors proposes that the unrestricted equity of Meltron AB, SEK -23,913,041, is carried forward.

The Annual Report will be published on 7th Sep 2021 together with the auditor's report. It will be made available on the Company's website, and

The Annual General Meeting will be held on 1st Oct 2021 in Stockholm, Sweden.

Meltron will report the half year 1st Jul 2021 - 31st Dec 2021 on the 18th Feb 2022 (preliminary).

The report will be published in

For more information, please contact:

Ville Sistonen, CEO of Meltron AB, ph: +358 40 746 4781; [email protected]
Mikko Sola, CFO of Meltron AB, ph: +358 40 566 5335; [email protected]


This information is information that Meltron AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication in Swedish, by the contact persons set out above, on 30th Aug 2021, at 08:45 CET. This English version is published as a service; in case of discrepancies the Swedish version will prevail.

Halvårsrapport 2021-2022

Half Year Report 2021-2022

Årsredovisning 2020/2021

Annual report 2020/2021


Auditors report

Bokslutskommuniké 2020-2021

Year end report 2020-2021

Halvårsrapport 2020/2021

Half Year report 2020/2021

Årsredovisning 2019/2020

Annual report 2019/2020


Auditors report

Bokslutskommuniké 2019/2020

Year-end report 2019/2020

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