GlobeNewswire by notified

SERSTECH AB: Third Quarter Report 1 January – 30 September 2021


Serstech Group

Third Quarter 2021

Net sales: KSEK 1 516 (8 213)

Profit for the period: KSEK -5 074 (2 076)

Earnings per share SEK -0.06 (0.03)

Earnings per average number of shares: SEK -0.06 (0.03)

Serstech Group

Period 1 January – 30 September 2021

Net sales: KSEK 15 740 (14 534)

Profit for the period: KSEK -7 347 (-7 948)

Earnings per share SEK -0.09 (-0.11)

Earnings per average number of shares: SEK -0.09 (-0.11)

Parts of the world is slowly starting to open up, but many of Serstech’s target markets remain hard to access for us due to Covid restrictions. Historically, we have been most successful in South-East Asia, but for the last 18 months, we have not been able to visit customers or partners in that important region. Our local salespeople have been able to have some meetings in North America and China, even though many potential customers have their own Corona-related meeting restrictions. In September, we have met with partners and customers in nine European countries, and it seems that some tenders are being resumed in Europe. It is however too early to tell when business will be back to normal. The whole industry is affected by the pandemic-related restrictions and the fact that many of our potential customers are focusing their work on enforcing travel restrictions, rather than their normal law enforcement activities.

As for virtually all electronic product manufacturers, we are experiencing component shortages, which primarily restrict the production capacity for our new Arx products. There is a risk that the component shortage will have at least some effect on our production for most of 2022. Due to the shortage, having confirmed orders from component suppliers is not enough, since these can be cancelled at any time. For this reason, we are placing orders with immediate delivery and are building stock of all components we expect to need for the coming year. This does have an effect on our liquidity, but as we expect sales to start growing again within short, we need to build stock in order to be able to deliver.

We have been able to secure the components we need for the Serstech 100 Indicator, corresponding to a sales value of 25 MSEK, which should be enough for 2022 for this product. Depending on how our competitors are affected by the component shortage, our ability to deliver fast could be a significant advantage for us in 2022. Due to the long sales cycles, we expect the Serstech 100 Indicator to be a significant part of our volumes for at least the coming year.

The feedback we are receiving from our partners and customers about our recently updated product portfolio is very positive. Every time we show the Arx products to customers, they are impressed by their size and weight, their industry-best usability and the speed and precision of the patented autofocus. The end-user price of Arx is slightly higher than that of the Serstech 100 Indicator, but it still has one of the best price/performance ratios among the handheld Raman instruments on the market.

We have taken significant steps forward in the US during the quarter. We have signed two partnership agreements, including with one of the largest suppliers to federal authorities in the country, and we have been in several high-level meetings with large potential buyers. The majority of the volumes in the US are procured through multi-year frame agreements and through direct purchases from pre-approved suppliers. These purchases are completely hidden from the world, so unless a supplier is well-established and pre-approved, this market is completely inaccessible. Through focused and excellent work, our US salesperson has been able to ensure that Serstech’s products are scheduled for in-depth testing and evaluation in several government programs over the next nine months. After these tests are completed successfully, the US potential is huge for Serstech.

In September, we received a few small orders from United Nations, which has purchased instruments from us several times over the last three years. Our instruments are deployed by the United Nations Office on Drugs and Crime (UNODC) in several countries, and they are for instance used in the Middle East to combat the large-scale trafficking of opiates to Europe. UN is a recurring customer since 2018 and deploys our instruments in harsh field conditions, from deserts to cold, mountainous areas.

Our first mobile application ChemDash Mobile is getting closer to launch, and we now have a working prototype that will be demonstrated at an exhibition in the US in November. The application connects a mobile phone to our Arx instruments and is the first of its kind in our industry. The application introduces several unique features, such as voice control of and voice feedback from our Serstech Arx instruments. The voice input and output are important for users in protective gear, which can limit both the screen visibility and the ability to operate buttons on an instrument. In addition, the mobile application allows us to participate in tenders that require GPS and camera integration, which is something many of our competitors have integrated in their instruments and we have been missing.

For many years, our vision has been to create wider solutions, rather than stand-alone instruments. The wider solutions would be connected through our powerful ChemDash software, which is designed to allow connections to many types of devices. The security industry is slow and conservative, which has made it hard to lead the transformation of the industry, especially as we are the small newcomer. Now, finally, this seems to be changing. We have several productive product collaboration discussions ongoing, and we hope to be able to announce the first such collaboration in Q4 2021. The idea is to solve larger problems for the customer, i.e. not just the chemical identification task as we do today. By combing several technologies, we could for instance also detect traces of a dangerous substance and hence be able to tell the customer which package to open and then, in a second step, identify its content with our Raman instruments.

Serstech has a skilled and productive R&D department and earlier in 2021 we decided to improve the protection of our innovations and set the goal to submit at least five patent applications during the second half of the year. Seven patent applications are currently under review with our IP attorneys, so we are well on our way to reaching this goal. The patents are both related to improvements of our Arx products and to our coming Genesis product platform. Since Genesis is expected to be disruptive, it is crucially important to protect all related intellectual property.

Despite the significant challenges created by the effects of the pandemic and the global component shortage, we have managed to slightly increase our revenue so far in 2021 compared to the same period in 2020 and 2019. We know from multiple customer meetings over the last few months that our new Arx units are a great match to the market needs and that our price/performance ratio is one of the best in the industry. Parts of the world are opening up for business again and we remain convinced that our 50% growth goal is well within reach for 2022 and onwards, as long as the pandemic loosens its grip on the industry and the market.

For further information, please contact:

Stefan Sandor,
CEO, Serstech AB
Phone: +46 739 606067

Thomas Pileby,
Chairman of the Board, Serstech AB
Phone: +46 702 072643

or visit:

This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 8:00 CET on Nov 9, 2021.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG), phone: +46 11 323 07 32, e-mail:

About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified 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 by notified

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

Latest releases from GlobeNewswire by notified

Galapagos increases share capital through subscription right exercises3.12.2021 22:01:00 CET | Press release

Mechelen, Belgium; 3 December 2021, 22.01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) announces a share capital increase arising from subscription right exercises. Galapagos issued 22,600 new ordinary shares on 3 December 2021, for a total capital increase (including issuance premium) of €578,700.00. Pursuant to the subscription right exercise program of Galapagos’ management board, members of the management board automatically are committed to exercise a minimum number of subscription rights, subject to certain conditions. In accordance with the rules of this program, one management board member exercised 5,000 subscription rights. In accordance with Belgian transparency legislation1, Galapagos notes that its total share capital currently amounts to €354,582,005.11, the total number of securities conferring voting rights amounts to 65,552,721, which is also the total number of voting rights (the “denominator”), and all securities conferring voting rights and al

Sampo plc’s share buybacks 03/12/20213.12.2021 21:30:00 CET | Press release

SAMPO PLC STOCK EXCHANGE RELEASE 03/12/2021 at 10:30 pm Sampo plc’s share buybacks 03/12/2021 On 03/12/2021 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)23,68743.29AQEU27,42643.28CEUX4,32043.37TQEX72,59243.31XHELTOTAL128,02543.30 *rounded to two decimals On 1 October 2021, Sampo announced a share buyback programme of up to a maximum of EUR 750 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 4 October 2021, is based on the authorization granted by Sampo's Annual General Meeting on 19 May 2021. After the disclosed transactions, the company owns in total 6,263,553 Sampo A shares representing 1.13 per cent of the total number of shares in Sampo plc. Detail

Projekt Öyfjellet försenat – beräknas färdigställas under första kvartalet 20223.12.2021 21:15:00 CET | Pressemelding

Hässleholm den 3 december 2021 I delårsrapporten för det tredje kvartalet, som offentliggjordes den 18 november 2021, kommunicerade Eolus att det finns risk för försening i färdigställandet av det norska 400 MW projektet Öyfjellet. Baserat på uppdaterad information om byggprocessen beräknar Eolus nu att vindparken färdigställs under det första kvartalet 2022. Per idag, den 3 december 2021, har samtliga 72 turbiner färdigmonterats. 34 turbiner har börjat generera el. Huvudskälen till förseningen är utmanande väderförhållanden, vilket har påverkat installationsarbetet, samt Covid-19 relaterade orsaker som begränsat både resemöjligheterna för personal och lett till leveransförseningar avseende komponenter. Förseningen kommer att ha en negativ påverkan på Eolus projektmarginal. För ytterligare information kontakta: Per Witalisson, VD, telefon +46 (0)70-265 16 15 Johan Hammarqvist, kommunikationschef, telefon +46 (0)720-50 59 11 Kort om Eolus Eolus Vind är en av Nordens ledande projektörer

Project Øyfjellet delayed - new estimated completion in the first quarter of 20223.12.2021 21:15:00 CET | Press release

Hässleholm, Sweden, December 3rd, 2021 In the interim report for the third quarter, released on November 18, 2021, Eolus communicated a risk of delay in the completion of the 400 MW Norwegian wind project Øyfjellet. Based on updated information of the construction progress, Eolus now estimates that the wind farm will be completed during the first quarter of 2022. As of today, December 3, 2021, construction of all 72 turbines have been completed. First electricity production has been achieved by 34 turbines. The main reasons for the delay are challenging weather conditions which has effected the progress of the installations and Covid-19 related issues which has restricted both travel possibilities for personnel and led to delays in delivery of components. The delay is expected to have a negative impact on Eolus’ profit margin for the construction of the project. For further information contact: Per Witalisson, CEO, +46 70-265 16 15 Johan Hammarqvist, Head of Communications, +46 720 50

ING reports outcome of 2021 EU-wide Transparency Exercise and Risk Assessment Report3.12.2021 18:12:26 CET | Press release

ING reports outcome of 2021 EU-wide Transparency Exercise and Risk Assessment Report ING notes the announcements made today by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the information of the 2021 EU-wide Transparency Exercise and Risk Assessment Report. Background EU‐wide Transparency Exercise The EBA Board of Supervisors approved the package for the EU‐wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual transparency exercise is based solely on regulatory reporting data (COREP/FINREP) on the form and scope to assure a sufficient and appropriate level of information to market participants. The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. The outcome of the exercise related to ING Group can be found in the annexes on the EBA website. Note for editors For further information on ING, please v

KBC Group: KBC report on the 2021 EBA Transparency Exercise3.12.2021 18:10:00 CET | Press release

Press Release Outside trading hours - Regulated information* Brussels, 3 December 2021 – after trading hours KBC report on the 2021 EBA Transparency Exercise KBC notes the announcements made today by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the publication of the EU-wide Transparency Exercise. The information of this 2021 EU-wide Transparency Exercise refers to the reported data as of 30 September 2020, 31 December 2020, 31 March 2021 and 30 June 2021. The templates, published on a bank-by-bank basis, are the following: Key MetricsLeverage ratioCapitalRisk exposure amountsP&LTotal Assets: fair value and impairment distributionLiabilitiesMarket RiskCredit RiskGeneral governments exposuresPerforming and Non-Performing ExposuresForborne ExposuresLoans and advances to non-financial corporationsCovid-19 The data collection relies on the standard information reported by the banks to the EBA on a regular basis through the supervisory reporting framewo

Changes in the Board of Directors3.12.2021 17:40:00 CET | Press release

Basel, 3 December 2021 - Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that at its December meeting the Board of Directors of Roche Holding Ltd has approved first proposals to the Annual General Meeting (AGM) scheduled for 15 March 2022. Mr Paul Bulcke, who has been serving on the Board of Directors since 2011, has decided not to stand for re-election at the AGM in 2022, following almost eleven years of tenure. The Board of Directors proposes Dr Jemilah Mahmood, currently the Special Advisor on Public Health to Malaysia’s prime minister, for election to the Board of Directors at the AGM 2022. “As a member of the Board and of the Audit Committee, Paul Bulcke has made significant contributions to Roche’s success,” said Roche Chairman Christoph Franz. “On behalf of the Board of Directors, I would like to extend our sincere thanks to Paul Bulcke who gave great support to Roche with his enormous leadership experience and his strong entrepreneurial thinking.” Christoph Franz added: “I a