Thinfilm Announces Investor Day and Preliminary Q1 Key financials
Oslo, Norway, April 24, 2019 - Thin Film Electronics ASA, the global leader in near field communications (NFC) solutions, will hold an Analyst and Investor Presentation in Oslo at 11:00am Central European Summer Time / 05:00am Eastern Daylight Time / 02:00am Pacific Daylight Time today.
The presentation and Q&A will be held in English and take place at the Hotel Continental, Stortingsgata 24/26, Oslo. It will also be webcast at the following link and a recording will be available afterwards at: https://webtv.hegnar.no/presentation.php?webcastId=97869825.
Management will today present the new strategy, commercial momentum and financial targets. The Investor Presentation is enclosed and can also be found at https://www.thinfilmnfc.com/investors-reports-and-presentations/.
Thinfilm is also releasing preliminary key financials for the first quarter of 2019 (all figures in US Dollars): Revenues and Other Income $0.8 million, EBITDA $(10.8) million, Operating Cash Flow $(10.0) million, CAPEX $2.2 million, Closing Cash Balance $20.0 million.
Furthermore, Thinfilm is herewith announcing that it will publish its 2018 Annual Report on 30 April 2019 (earlier communicated date: 26 April 2019) due to operational reasons. As a result of the restructuring announced 15 March 2019, and in accordance with IFRS, the company expects to record a material impairment of the PDPS asset values for 2018. Full details will be disclosed upon publication of the annual report.
As part of activities to secure financing, Thinfilm has engaged Carnegie AS and DNB Markets, a part of DNB Bank ASA, to act as its financial advisors.
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Thin Film Electronics ASA
Thinfilm is enabling Intelligence Everywhere® through our near field communications (NFC) solutions. We address customer and consumer pain points around brand protection, consumer engagement and supply-chain insights. Thinfilm's NFC OpenSense® and SpeedTap® products communicate wirelessly with NFC-enabled smartphones and can be applied to everyday objects. Thinfilm provides fully integrated services throughout the entire process incorporating NFC tags, integrating them onto products and delivering data and actionable insights via the CNECT® cloud-based platform at scale.
Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo, global headquarters in San Jose, California, and offices worldwide.
Contacts:
Kevin Barber - Chief Executive Officer (Investors)
Email: kevin.barber@thinfilmnfc.com
Tel: +1 408 503 7306
Ole R. Thorsnes - Chief Financial Officer (Investors)
Email: ort@thinfilmnfc.com
Tel: +47 918 66 697
Pilar Wolfsteller - Global Director, Corporate Communications (Media)
Email: pilar.wolfsteller@thinfilmnfc.com
Tel: +1 408 476 5020
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Source: Thin Film Electronics ASA via Globenewswire