SERSTECH AB: Annual report in Swedish now availiable on company website
In the financial statements of 2020 Serstech is showing a modest growth of 9% for the full year. This should however be considered a strong growth number considering the second quarter stand–still and the continued travel restrictions due to the Covid-19 pandemic. During the year Serstech had a growing number of partners achieving their crucial first sales in their respective markets. Serstech has also seen important success in the US and in the EU markets and a growing sales pipe in total.
Despite the cost reduction program introduced in response to the Covid-19 pandemic, the company has been successful in launching several new products. Management is convinced that the growing sales pipe together with an agile organisation and continued customer–based innovation will allow Serstech to further grow its market share and provide results exceeding its financial targets. This information and financial statements are published in the annual report of Serstech AB, availiable at www.serstech.com/financial-reports. In the financial statements, part of the capitalized work for own account has been reclassified and will differ slightly from previously reported figures. The reclassification has no impact on either net sales or any reported result figures in the income statement.
For further information, please contact:
Stefan Sandor,
CEO, Serstech AB
Phone: +46 739 606067
Email: ss@serstech.com
Thomas Pileby,
Chairman of the Board, Serstech AB
Phone: +46 702 072643
Email: tp@serstech.com
or visit: www.serstech.com
The information was submitted for publication, through the agency of the contact person set out above at 12:00 CET on March 26, 2021.
Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG), phone: +46 11 323 07 32, e-mail: ca@skmg.se.
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 www.serstech.com
Attachment
