Cleantech Building Materials: Unaudited Interim Results to 30 June 2020


28 August 2020



Cleantech Building Materials plc

Unaudited Interim Results to 30 June 2020

Cleantech Building Materials plc (“CBM” or the “Company” or the “Group”), presents its unaudited results for the six months ended 30 June 2020. The financial statements are appended to this announcement.

Strategy and Objectives

The CBM Group’s primary strategic objectives for 2020 are:

  1. To secure the land, permitting and financing required to commence the construction of its own Accoya® wood manufacturing facility in China to enable the commercial production of its own Accoya® wood.
  1. To increase sales of Accoya® wood imported from Europe both to new and existing wholesalers, and directly to wood manufacturers.
  1. To build commercial relationships with large-volume Chinese wood manufacturers in anticipation of significant Accoya® wood capacity increase in the Chinese and ASEAN markets once the Group has commenced its commercial production of Accoya® wood.

The Group has made progress towards achieving these objectives during the six months ended 30 June 2020.

Financial Review of the Business

The Group’s revenues for the six months ended 30 June 2020 amounted to €447,000 (six months ended 30 June 2019: €545,000). The revenues were limited by the disruption of construction projects in China and the ASEAN regions due to the Covid pandemic. By the end of the second financial quarter, there were signals that demand was returning to its pre-Covid levels from the Group’s distributors.

The Group realised a net loss of €1,639,000 for the six months ended 30 June 2020 (six months ended 30 June 2019: €2,234,000). The net loss for the current period was mainly due to salaries and professional costs but strict cost control has limited the extent of the loss.

As at 30 June 2020, the Group had cash and cash equivalents of €40,000 (30 June 2019: €25,000) as well as an available facility of approximately €2.97m, and net current liabilities of €839,000 (30 June 2019: €2,020,000). The Group’s financing arrangements now provide sufficient working capital to continue the expansion of the Group’s marketing and sales activities in China and the ASEAN markets, and to progress the financing and build plans for its own Accoya® wood factory in China. Drawdowns under such arrangements have been delayed in recent months due to the Covid pandemic, but are now returning to pre-Covid levels as the business and the factory project advance. The Group continues to closely manage its cash position to ensure that any costs of financing are mitigated as fully as possible.

The Group has been investing to increase its marketing and sales activities and has successfully appointed seven wholesalers and distributors of AccoyaÒ wood in the China and ASEAN regions. These agreements include escalating volume purchase commitments over a three-year period in exchange for market segment exclusivity. All of these Offtake Distribution agreements are extendable beyond 2020, conditional on sales performance. The Group foresees a growing order book from 2020 onwards; but in the short term remains reliant on Titan Wood’s supply of Accoya® wood until the Group has completed the construction of its own Accoya® wood factory.

The Group continues to work closely with our Chinese JV partner, NTAAC, to progress the construction of the first Accoya® wood factory in Asia. The Covid-related travel restrictions between China and Europe have caused some delays, but the overall project is advancing. Since the full year accounts issued in April 2020, the Group and NTAAC have concluded detailed debt contract terms with Bank of Jiangsu for the provision of circa €26m euros in fixed asset mortgage and working capital financing for the joint venture.

Once the Group is producing its own Accoya® wood, the CBM Board believes the financial performance of the Group will be radically transformed.

Events after the reporting date

No material matters to report.

The interim financial information for the six months ended 30 June 2020 was approved by the Board for release on 28 August 2020.


Further information may be found at the Company's website at

Further Enquiries:

Cleantech Building Materials plc
Adrian Wyn-Griffiths
+44 20 3934 6630

Keswick Global AG (Certified Adviser)
+43 1 740 408045

IFC Advisory Limited (Financial PR)
Tim Metcalfe
Zach Cohen
+44 20 3934 6630

The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014.


About GlobeNewswire

One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Leasinvest Real Estate SCA: Important lease in the building Mercator in Luxembourg30.9.2020 17:40:00 CESTPress release

New lease for a floor in the building Mercator Leasinvest Real Estate has just concluded a new lease for 1,560 m² with CHL – ‘Centre Hospitalier de Luxembourg’, in the building Mercator located Route d'Arlon 110-112 in the Grand Duchy of Luxembourg. This new lease concretises the in-principle agreement already announced in the half-year financial report published on 19 August 2020. The rent price amounts to € 22/m²/month and the contract starts tomorrow, 1 October 2020. The building Mercator has a total surface area of 8,641 m² of offices, spread across 5 floors and comprises 104 parking spaces, and benefits from an exceptional location in the capital of the Grand Duchy along the Route d’Arlon, one of the main axes to the City of Luxembourg. Moreover, the building Mercator is located nearby Luxembourg’s main hospital, around which an important number of (para)medical businesses are located. This transaction was realised with the intervention of Cushman & Wakefield. Michel Van Geyte, CE

Ress Life Investments A/S: Ress Life Investments A/S publishes Net Asset Value (NAV)30.9.2020 17:05:00 CESTPress release

Ress Life Investments Holbergsgade 14, 2 tv DK-1057 Copenhagen K Denmark CVR nr. 33593163 To: Nasdaq Copenhagen Date: 30 September 2020 Corporate Announcement 36/2020 Ress Life Investments A/S publishes Net Asset Value (NAV). Ress Life Investments A/S publishes the Net Asset Value (NAV) per share and performance data as of 15 September 2020. NAV per share in USD: 2064.01 NAV per share in EUR: 1735.63 The performance during the first half of September was -0.49% in USD. The year-to-date net performance is 5.37% in USD. Assets under management (AUM) was 215.0 million US dollars. Questions related to this announcement can be made to the company's AIF-manager, Resscapital AB. Contact person: Gustaf Hagerud Tel + 46 8 545 282 27 Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Investment Information Docume

Vaisala’s financial information and Annual General Meeting in 202130.9.2020 17:00:00 CESTPress release

Vaisala Corporation Stock exchange release September 30, 2020 at 6:00 p.m. EEST Vaisala’s financial information and Annual General Meeting in 2021 Vaisala Corporation will publish its Financial Statement Release, Half Year Financial Report and two Interim Reports during 2021 as follows: - February 19, 2021: Financial Statement Release 2020 - April 29, 2021: Interim Report January–March 2021 - July 23, 2021: Half Year Financial Report 2021 - October 28, 2021: Interim Report January–September 2021 The Annual Report 2020 will be published at by the end of week 9. Vaisala Corporation’s Annual General Meeting is scheduled for Tuesday, March 30, 2021. The Board of Directors of the company will convene the meeting. More information Paula Liimatta, Business Controller and Head of Investor Relations Tel. +358 40 580 3521 Distribution Nasdaq Helsinki Key media Vaisala is a global leader in environmental and industrial measurement. Building on over 80 years of experience,


SEK TENDER OPERATION ANNOUNCEMENT FOR ONWARD LENDING 2020-10-02 Transaction type:SEK CreditTender date:2020-10-02Time for submission of bids:10.30-11.00 (CEST)Payment date:2020-10-06Final repayment date2024-10-07Offered volume:50 billion SEKMinimum bid amount:10 million SEKMaximum bid amount:12.5 billion SEKMaximum number of bids from each participant: 1Interest rate:0.00 %Additional interest rate:0.10 per cent ALL APPROVED COUNTERPARTIES ARE INVITED TO SUBMIT VOLUME BIDS TO THE RIKSBANK (46-8-6966970) BY 11.00 ON OCTOBER 2 2020, AT THE LATEST. CONFIRMATION ON E-MAIL: Result of the auction will be published at 11.30 (CEST) on Tender date. Complete terms and conditions can be retrieved at

Change in numbers of shares and votes in Saniona AB (publ)30.9.2020 16:00:00 CESTPress release

PRESS RELEASE September 30, 2020 During September, the registered number of shares and votes in Saniona AB (publ) (“Saniona”) has increased due to the exercising of warrants of series TO 2. As of September 30, 2020, the registered number of shares and votes in Saniona amounts to 62,372,831. For more information, please contact Trista Morrison, Chief Communications Officer. Mobile + 1 (858) 229 1738. Email: This information is such information as Saniona AB (publ) is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 4 p.m. CET on September 30, 2020. About Saniona Saniona is a rare disease biopharmaceutical company focused on research, development and commercialization of treatments for the central nervous system. The company has four programs in clinical development. Saniona intends to develop and commercialize treatments f