Inission AB (publ) has released its year-end report for 2022.
The report in its entirety: Inission year-end report for 2022.pdf

At 8:30 a.m. today, March 1, we welcome analysts, investors, media and other interested parties to participate in a live presentation of the year-end report. During the presentation, Inission’s CEO Fredrik Berghel will comment on the published report and answer questions with the help of Henric Hintze from ABG Sundal Collier. The presentation is held in English. Afterwards, the presentation will also be available at Inission’s website.

The event is broadcast live via this link.

Q4 (OCTOBER 1–DECEMBER 31, 2022)

• Net sales 589 MSEK (389)
• EBITA* result 27,5 MSEK (-18,5)
• Operating profit EBIT 26,7 MSEK (-19,3)
• Cash flow from operating activities -10,3 MSEK (12,1)
• Equity ratio 27% (32)
• Earnings per share before dilution 0,76 SEK (-1,30)
• Earnings per share after dilution 0,75 SEK (-1,30)

TWELVE MONTHS (JANUARY 1–DECEMBER 31, 2022)

• Net sales 1 921 MSEK (1 283)
• EBITA* result 90,6 MSEK (-18,2)
• Operating profit EBIT 87,5 MSEK (-20,5)
• Cash flow from operating activities 70,7 MSEK (-39,4)
• Equity ratio 27% (32)
• Earnings per share before dilution 2,57 SEK (-2,34)
• Earnings per share after dilution 2,57 SEK (-2,34)

* EBITA – operating profit adjusted for amortization of intangible assets arising from acquisitions.

The Board of Directors of Inission AB submits this Interim Report 2023-03-01. This report has not been reviewed by the Companys auditors. The report has been prepared in a Swedish original and an English translation. In the event of any discrepancies between the two, the Swedish version is to apply.

For more information:
Fredrik Berghel, CEO Inission AB
[email protected]
+46 732 02 22 10

This information is information that Inission AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the care of the above contact person, for publication at 07:00 CET on March 1, 2023.

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. Total net sales in 2022 amounted to SEK 1.9 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at
www.inission.com/investor-relations.

Inission AB, Lantvärnsgatan 4, 652 21 Karlstad
org.no. 556747-1890

Inission AB (publ) Year-end report for 2022 will be published on Wednesday, March 1, 2023, at 07:00 CET. On the same day at 08:30 analysts, investors, media and other interested parties are welcomed to participate in a live presentation of the Year-End Report.

During the presentation, Inission’s CEO Fredrik Berghel will comment on the published report and answer questions with the help of Henric Hintze from ABG Sundal Collier. The presentation is held in English.

Afterwards, the presentation will be available on Inission’s website under Investor relations.

The event is broadcast via this link.

For more information:
Fredrik Berghel, CEO Inission AB
+46 73 202 22 10
[email protected]

Olle Hulteberg, Marketing director Inission AB
+46 707 20 24 44
[email protected]

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at www.inission.com/investor-relations.

Inission AB, Lantvärnsgatan 4, 652 21 Karlstad
org.no. 556747-1890

This information was submitted for publication on February 22, 2023 at 08:00 CET.

In our quest to change and improve our industry and with a vision to create the most rewarding and self-evident event every year, we launch Involve. Involve is a conference that offers networking and inspiring speakers, but above all, Involve is a unique opportunity to influence our industry through a new involving approach. The conference is held together with Vocean who provide a super tool to get everyone engaged.

– Inission has started a long-term improvement journey with many challenges, but also fantastic opportunities. To succeed, it is absolutely crucial that all our employees, customers and suppliers are involved. Involve will be our forum where we every year will talk about our journey and invite guest speakers who give their view on what is required to really succeed. During the conference, all participants will also receive the tools required to be able to influence, develop and constantly improve. Together we are strong, says Fredrik Berghel CEO Inission.

Involve is held April 20^th at Fabrikören in Nacka Strand, Stockholm and the theme of the premiere conference will be collaborations, efficient flows and sustainable production.

For more information:
Fredric Grahn, Chief Sales Officer
[email protected]
+46 705 94 11 66

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market

The press release as pdf

The board of Inission AB has decided that the group will change accounting principles from K3 to International Financial Reporting Standards (IFRS).

– Inission is in a phase of growth and switching to IFRS paves the way for a long-term fair and quality-assured structure that matches our size, maturity, growth and the market’s expectations. The transition to IFRS aims to increase comparability with other listed companies and create increased transparency and understanding for international investors regarding the financial reports, says Olle Hulteberg, chairman of the board of Inission AB.

Inission’s year-end report for 2022, with a publication date of March 1, will be the first report presented according to IFRS and interpretations from the IFRS Interpretations Committee (IFRIC), as approved by the EU. The transition date has been set at 1 January 2021. Comparative figures are recalculated as of 1 January 2021.

The main effects of the transition to IFRS primarily affect the accounting of group companies, including the management of goodwill and the introduction of accounting for rights of use. The transition also enables a possible future change in listing.

A detailed description of the transition to IFRS and its effects will be presented in Inission’s year-end report for 2022 published on March 1 and annual report published on April 5.

In the future Inission will also publish all reports in both Swedish and English.

For more information:
Olle Hulteberg, chairman of the board Inission AB
+46 707 20 24 44
[email protected]

This information is information that Inission AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 CET on 16 February 2023.

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at www.inission.com/investor-relations.

Inission AB, Lantvärnsgatan 4, 652 21 Karlstad
org.no. 556747-1890

Today, in connection with Inission’s Capital Market’s Day, the Board of Directors of the company presents financial targets for 2023 and mid-term consisting of:

Financial targets 2023:

• Revenues: About SEK 2,000 million
• Adjusted EBITA margin: >6%
• Equity ratio: >30%
• Dividends: up to 30% of EAT

Financial targets mid-term:

• Revenue growth: >15% annual growth, of which 10% organic and 5% through acquisitions
• EBITA margin: >9%
• Equity ratio: >30%
• Dividends: up to 30% of EAT

In addition to the above, financial net debt in relation to adjusted EBITDA on a rolling 12-month basis should not exceed 2.5 over time.

Inission will further explain these financial targets during its digital Capital Market’s Day on 19 January 2023 at 10.00-12.00 CET.

Register by email to Fredrik Berghel, CEO Inission, at [email protected]. The link to the event and a detailed agenda will be shared after the registration is closed.

For more information:
Fredrik Berghel, CEO Inission AB
+46 73 202 22 10
[email protected]

Olle Hulteberg, Marketing director Inission AB
+46 707 20 24 44
[email protected]

This information is information that Inission AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on 19 January 2023.

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at www.inission.com/investor-relations.

Inission AB, Lantvärnsgatan 4, 652 21 Karlstad
org.no. 556747-1890

Inission AB (publ) held an extra general meeting on Monday 16 January 2023. The meeting decided in accordance with the board’s proposal in all proposed matters.

Olle Hulteberg was elected chairman of the meeting. At the meeting, 54.7% of the shares were present, corresponding to 58.7% of the votes.

Decisions at the General Meeting
– The meeting voted yes to authorize the board to, during the time until the next annual general meeting, on one or more occasions, with or without deviating from the shareholders’ pre-emptive rights, decide on a new issue of shares. Payment must be made in cash, by retrieving, by set-off or otherwise be combined with special terms. With the support of this authorization, the company’s share capital and the number of shares may be increased by a maximum of 4,000,000 B shares.

Deviation from the shareholders’ pre-emptive right may occur in order for the company to be able to issue shares to acquire capital for further acquisitions. The issue price must be as close to the share’s market value as possible in case of deviation from the shareholders’ pre-emptive right and in the case of payment in kind. The board, or the person appointed by the board, shall have the right to make the formal adjustments to the authorization decision that may prove necessary in connection with the registration thereof.

– On the following conditions, the meeting voted yes to the board’s proposal to carry out a directed issue of a maximum of 200,000 series B shares to key persons in a leading position:

The right to subscribe for the shares shall accrue to key persons, defined as subsidiary CEOs and group management within the Inission group. The number of people who will be given the opportunity to subscribe for shares amounts to 12 and the minimum guaranteed allocation amounts to 1,678 shares (equivalent to approx. SEK 50,000).

The subscription price has been set at SEK 29.79, which corresponds to the volume-weighted average share price for a series B share in the company on First North Stockholm during 10 trading days for the period 7 to 20 December 2022 with a discount of 8 percent. The premium must be transferred to the free premium fund. A prerequisite for the allocation of shares is that the subscriber enters into a lock-up agreement for a period of 12 months from the registration of the shares with the Swedish Companies Registration Office, which justifies the issue price. The reason for the issue is to enable key persons to have a personal ownership commitment, which can be expected to contribute to an increased interest in the company’s operations and profit development, as well as to increase the participant’s motivation and affinity with the company and its owners. Due to low trading in the company’s shares, this is best achieved through a targeted issue.

Through the issue, the share capital can increase by a maximum of SEK 8,338.86. Subscription for shares must take place no later than January 20, 2023 and payment no later than January 27, 2023. The new shares must carry the right to a dividend for the first time on the dividend record date that falls closest after the new issue has been registered with the Swedish Companies Registration Office.

The issue corresponds to a dilution of approximately 1.0% at the most.

Lantvärnsgatan 4, Karlstad
January 16, 2023

For more information:
Fredrik Berghel, CEO Inission AB
[email protected]
+46 732 02 22 10

About Inission
Inission is a total supplier of tailored manufacturing services and products in the field of advanced industrial electronics and mechanics. Our services cover the entire product lifecycle, from development and design to industrialization, volume production and aftermarket services.
Inission has operations in Sweden, Norway, Finland, Estonia, Italy, USA and Tunisia. The total turnover in the last 12 months amounts to SEK 1.7 billion with approximately 900 employees. Inission is listed on Nasdaq First North Growth Market with Nordic Certified Adviser AB as certified adviser. Reports are archived at www.inission.com/investor-relations.

Inission AB, Lantvärnsgatan 4, 652 21 Karlstad
org.no. 556747-1890

Xavier Leon, founder of Brinja AB and winner of the Inission innovation award 2022.

On November 10, the winner of the Inission innovation award 2022 was announced. The final was held during Ny Teknik’s famous 33 listan Live, Sweden’s first and oldest startup list which every year celebrates Sweden’s 33 most promising startups by gathering lively venture capitalists, established tech profiles and promising entrepreneurs.

In the final, three strong entries competed for SEK 1 million in development and manufacturing services from Inission. Avsalt with its innovation that removes ions and charged small molecules from water flows, Brinja with its IoT platform for construction sites and Wavr Tech with its digital human twin powered by motion sensors in garments. Three innovations with good inventiveness, feasibility, market potential and news value.

In a dragon’s nest-like arrangement, the finalists had to face the jury, which this year consisted of representatives from Inission, Almi, Nordea and Ny Teknik. Before the jury had to reveal the winner, the audience would first choose their own favorite. The audience’s prize consists of SEK 50,000 and after the voting was finished, Avsalt stood as the winner.

In conclusion, the jury announced the winner of the Inission innovation award 2022 with the justification:

“This year’s winner has developed a product with high inventiveness and great market potential. A smart and easy innovation that reduces costs, provides better control and increases safety. All through an app on your phone.”

Xavier Leon from Brinja AB emerged victorious with his IoT platform for construction sites. Under a rain of confetti and cheers from the audience, he received the check for 1 MSEK. Brinja took part in last year’s final but was then defeated. This year they got their revenge.

– It was a surreal feeling to finally win. We are in a phase where we are looking for suppliers, so the timing is perfect. This solves several of our challenges, says Xavier Leon from Brinja.

What do you think of Inission innovation award?
– It’s a fantastic competition that I happily recommend everyone to apply for next year. The attention and help we get makes a big difference for small companies like us. There should be more competitions like this to apply for, says Xavier in conclusion.

This year Inission Innovation Award was held for the ninth time. The purpose of the competition is to help entrepreneurs and ideas to grow and thrive, but also to draw attention to the Swedish industry that manufactures electronic products. Next year, the competition celebrates its 10th anniversary. Stay tuned at www.inission.com

The jury. Fr. left. Christian Isberg Almi, Per Malm Danielson Ny Teknik, Anders Backman Nordea and Olle Hulteberg Inission.

Fr. left. Nicolaas Boon, Johan Säfholm from Avsalt and Olle Hulteberg from Inission.

Wavr Tech. Fr. left Patrik Zayas and Samuel Zayas.

About Inission
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region complete electronic and mechanical products of the highest quality. Our services cover the entire product life cycle, from development and design to industrialization, volume production and aftermarket. By combining this with logistics services and a production based on high flexibility, customer adaptation and short lead times, our offer becomes very competitive. Inission has production units in Stockholm, Västerås, Borås, Munkfors, Malmö, Løkken Verk (Norway), Lohja (Finland) Lagedi and Tallinn (Estonia). Inission is listed on Nasdaq First North.

From November 1, Nadežda Dementjeva is the new managing director at Inission Tallinn. Nadeždas most recently role was plant manager and board member of Ensto Building Systems OÜ. With extensive experience in production planning, company management and profitability maximization, she has the prerequisites to successfully steer Inission Tallinn further on its growth journey.

Nadežda grew up in Jõhvi, about 170 kilometres east of Tallinn. She describes herself as positive, full of energy and ready to go the extra mile to help and support everyone. Before joining Inission, she worked within the Ensto Group.

– I started at Ensto Ensek as production manager in 2017 and stayed another five years in the Ensto Group. My last role was plant manager and board member of Ensto Building Systems OÜ. During these five years I carried out several successful activities together with my team, of which the most important was the creation of a new plant layout and the construction of an extension to the production and warehouse space. Thanks to this, the facility was awarded “Factory of the Year 2022” and I was nominated for “Industrialist of the Year 2022”.

Before Ensto, Nadežda worked at Eesti Energia for almost 15 years and in various positions. She has also worked as a researcher at Tallinn University of Technology’s Faculty of Environmental Protection and holds a PhD in Thermal Engineering and a Master’s in International Business Administration.

What are your best qualities that you bring to work?
– I am determined and responsible, but my main strength is definitely the experience of production planning, company management and profitability maximization. I also believe in leading through people and hope that I am a good example for others.

What will your duties as managing director consist of?
– My role assumes the overall responsibility for the daily operations of the site including strategy, processes, budget, personnel, P&L responsibility, and operations KPI. Essential part is ensuring a cost-effective management, on-time operations to meet performance targets and smooth cooperation within the Inission business units and sites. What I like most about the role is people management and the wide range of responsibilities.

Was there something special about Inission that attracted you?
– Inission has a clear strategy and big but reasonable plans and targets to make the company better and more profitable.

What do you think is important for a business to function well?
– The right people at the right place, professionalism and a work environment that promotes good communication. It creates the conditions for good cooperations. As a manager, you should have the ability to see the big picture and make the right decision at the right time.

What interests do you have outside of work?
– My free time is mostly connected to my children’s sports and leisure interests, but if I have a few minutes to myself, I like to paint. I am currently studying at the Estonian Academy of Arts.

Thanks and good luck Nadežda.

 About Inission
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region complete electronic and mechanical products of the highest quality. Our services cover the entire product life cycle, from development and design to industrialization, volume production and aftermarket. By combining this with logistics services and a production based on high flexibility, customer adaptation and short lead times, our offer becomes very competitive. Inission has production units in Stockholm, Västerås, Borås, Munkfors, Malmö, Løkken Verk (Norway), Lohja (Finland) Lagedi and Tallinn (Estonia). Inission is listed on Nasdaq First North.

From the left Jo Nordvoll Head of Market department Inission Løkken and Erik Dragset Managing Director Inission Løkken.

Norwegian Inission Løkken AS, which has been part of Inission AB since 2018, has signed a manufacturing agreement with Norwegian NoFence AS worth NOK 70 million over two years. Deliveries are expected in 2023 and 2024.

NoFence is a Norwegian company founded in 2011 with the aim of developing technology that makes it easy to keep animals on pasture and at the same time ensure good animal welfare. With its patented technology, the company can today offer two different products, a collar for cattle and a collar for goats and sheep. The cattle and the virtual fence are controlled through NoFence’s own app.

The agreement is part of NoFence’s strategy to work closely with its suppliers and covers circuit board manufacturing, assembly into finished products and delivery of approximately 17,000 cattle collars and 27,000 sheep and goat collars. The planned growth is significant and there is a clear expectation from both parties to further develop the collaboration in the coming years.

– We are proud that NoFence chose Inission as a strategic partner. All our process and production equipment will be needed. We are responsible for circuit board manufacturing and assembly into finished products. In addition, we are responsible for testing and test development and finally packaging and delivery. Our proximity, our technical know-how and our ability to deliver the entire value chain were decisive in the evaluation process, says Inission Løkken’s Managing director Erik Dragset.

– NoFence and Inission Løkken’s partnership goes back several years and we place high demands on the collaboration in the development of competitive products and an efficient production line. The willingness to think together with us as a customer, to constantly work on cost reductions, improvements in the value chain and optimization of the product is crucial for our joint success. NoFence is now gearing up for strong growth and Inission shows that it has the ambition to accompany us on this journey, says NoFence CEO Knut Bentzen.

For more information about NoFence please visit www.nofence.no

For more information:
Erik Dragset, Managing director Inission Løkken AS
[email protected]
+47 901 62 348

The information was submitted, through the care of the above contact person, for publication on October 21, 2022 at 08:30 CET.

About Inission
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region complete electronic and mechanical products of the highest quality. Our services cover the entire product life cycle, from development and design to industrialization, volume production and aftermarket. By combining this with logistics services and a production based on high flexibility, customer adaptation and short lead times, our offer becomes very competitive. Inission has production units in Stockholm, Västerås, Borås, Munkfors, Malmö, Løkken Verk (Norway), Lohja (Finland) Lagedi and Tallinn (Estonia). Inission is listed on Nasdaq First North.

Not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Australia, China, Hong Kong, Japan, New Zeeland, Singapore, South Africa or the United States, or in any other jurisdiction in which the tender offer would be prohibited by applicable law.

Inission AB (“Inission” or the ”Offeror”) commenced on 8 September 2022 a mandatory public tender offer to purchase all of the issued and outstanding shares in Enedo Plc (“Enedo”) that are not held by the Offeror or Enedo (the “Tender Offer”). The acceptance period under the Tender Offer expired on 29 September 2022 at 4:00 p.m. (Finnish time).

According to the final results of the Tender Offer, the shares tendered in the Tender Offer represent approximately 15.42 % of all the shares and votes in Enedo. Of these, in total 295 Enedo shareholders (3 932 851 shares in Enedo) chose share consideration in the Tender Offer and in total 1 824 Enedo shareholders (6 630 428 shares in Enedo) chose cash consideration in the Tender Offer.

Together with the Enedo shares already held by Inission prior to the Tender Offer, the shares tendered in the Tender Offer represent in the aggregate approximately 95.85 % of all the shares and votes in Enedo.

The cash consideration will be paid to the shareholders who have validly accepted the Tender Offer in accordance with the terms and conditions of the Tender Offer on 5 October 2022. The actual time of receipt of the payment by tendering shareholders will depend on the time required to process the onward payments by financial institutions.

The share consideration will be paid to the shareholders who have validly accepted the Tender Offer in accordance with the terms and conditions of the Tender Offer on or about 20 October 2022. Pursuant to the terms and conditions of the Tender Offer, 0.086 new Inission Class B shares will be given for each Enedo share. To execute the share consideration, the Board of Directors of Inission has today resolved on a directed share issue to the Enedo shareholders whose shares have been validly tendered in accordance with the terms and conditions of the Tender Offer and who have chosen the share consideration. The total number of new Inission Class B Shares issued is 338 225. The subscription price shall be paid in contribution in kind by a total number of 3 932 851 Enedo shares valued at EUR 0.26 (SEK 2.83) per share.

As a result of the consummation of the Tender Offer, the ownership of the Offeror in Enedo shall exceed 90 % of all the shares and votes in Enedo and thus the Offeror will commence the redemption proceedings for the minority shares pursuant to Chapter 18 of the Finnish Companies Act. In such redemption proceedings, the Offeror will demand that the redemption price for the remaining shares in Enedo is to be set at EUR 0.26 per share which corresponds to the cash consideration paid by the Offeror in the Tender Offer in accordance with the terms and conditions of the Tender Offer.

The Offeror will apply for the shares in Enedo to be delisted from Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) as soon as permitted and reasonably practicable under the applicable laws and regulations and the rules of Nasdaq Helsinki.

Inission AB

THE BOARD OF DIRECTORS

For further information please contact
Fredrik Berghel, CEO Inission
+46 732 02 22 10
[email protected]

Inission AB / Release 3 October 2022 at 17:30 CET

About Inission
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region complete electronic and mechanical products of the highest quality. Inission’s services cover the entire product life cycle, from development and design to industrialization, volume production and aftermarket. By combining this with logistics services and a production based on high flexibility, customer adaptation and short lead times, our offer becomes very competitive. Inission has factories in Sweden, Finland, Norway and Estonia.

The revenue of Inission for the financial period ended on 31 December 2021, was approximately SEK 1 003 million (approximately EUR 94 million) and it employs approximately 520 people. Inission is listed on Nasdaq First North with Nordic Certified Adviser AB (inf[email protected], +46 707 94 90 73) as a certified adviser.

The company’s reports are filed under: www.inission.com/investor-relations

Inission AB: reg.no./org.nr 556747-1890
Lantvärnsgatan 4, 652 21 Karlstad