© ermess Components | March 01, 2013

Thinfilm saw expansion 2012

Thinfilm’s revenue in 2012 amounted to NOK 3.8 million, an increase of NOK 2.0 million compared to 2011 (NOK 1.8 million).
The net result of 2012 was a loss of just over 6 million euro. The third and fourth quarter of 2012 marked the initial recognition of considerable sales revenue (NOK 0.7 million and NOK 1.2 million, respectively), mainly related to technology access fees and delivery of prototypes and product development projects to strategic customers and partners.

Thinfilm has strengthened its technical staff significantly during 2012, and there were 23 full-time employees in the group at the end of the year (compared to 14 full-time employees at the end of 2011). In addition, Thinfilm expanded its laboratory facilities during 2012, including commissioning of a 1000m² class 100 printing facility.

In December 2012, Thinfilm demonstrated the world's first printed integrated electronic system with rewritable memory. The temperature sensor prototype combined printed memory, sensor and logic to detect when critical temperature thresholds have been exceeded and then recorded the data digitally for later retrieval and display.

"The proof-of-concept demonstration triggered substantial interest across a range of industries. "The prototype was developed according to the original plan and delivered on time. This achievement demonstrates the strength and competence of our technical staff and partner ecosystem, and validates our product roadmap," says Davor Sutija, Thinfilm CEO.

Also in December 2012, Thinfilm announced a commercial agreement with Hasbro, one of the largest toy makers in the world, for supply of printed electronics components.

"This commercial agreement underscores the attractiveness and competitiveness of Thinfilm's technology in cost-focused industries such as toys and games," says Jennifer Ernst, EVP Global Sales and Business Development. The agreement with Hasbro also includes a limited exclusive consulting relationship.

Thinfilm continued to strengthen its internal capabilities during the fourth quarter of 2012. Thinfilm increased staff by approximately 20% during the quarter (mainly technical staff to accelerate development of printed integrated systems), and expanded the laboratory facilities in Sweden, including commissioning of a 1000m² class 100 cleanroom for high-definition printing. Thinfilm is in the process of provisioning pilot scale gravure printing equipment with capacity to handle initial commercial orders.
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