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Metacon (META) investor relations material
Metacon Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record net revenue of SEK 90.1 million in Q4 2025, up 463% year-over-year, and SEK 237.8 million for the full year, up 488% year-over-year, driven by successful project deliveries.
Gross margin improved to 22% in Q4 and 20% for the year; OPEX stabilized as internal expertise replaced external consultants, enhancing cost control.
Cash flow from operating activities before working capital changes improved by SEK 77.8 million year-over-year, mainly due to higher revenues and stable margins.
Strengthened organizational structure and ISO 9001 quality management system implemented to support growth and reliable project delivery.
Financial highlights
Q4 net revenue: SEK 90.1 million (Q4 2024: SEK 16.0 million); full-year net revenue: SEK 237.8 million (2024: SEK 40.4 million).
Q4 EBITDA: SEK -10.4 million (Q4 2024: SEK -33.4 million); full-year EBITDA: SEK -46.1 million (2024: SEK -123.0 million).
Q4 EBIT: SEK -13.5 million (Q4 2024: SEK -36.3 million); full-year EBIT: SEK -58.0 million (2024: SEK -134.2 million).
Q4 profit after financial items: SEK -13.5 million (Q4 2024: SEK -38.5 million); full-year: SEK -60.8 million (2024: SEK -137.9 million).
Earnings per share: SEK -0.03 in Q4 (Q4 2024: SEK -0.05); SEK -0.05 for the year (2024: SEK -0.21).
Outlook and guidance
Project portfolio for 2026 includes major deliveries in Morocco, Romania, and Greece, with expectations for continued growth and new contract wins.
Market outlook remains positive despite sector turbulence; EU support and infrastructure investments expected to drive hydrogen market development.
Focus on delivering ongoing projects, strengthening cash flow, and enhancing competitiveness through partnerships.
- Q3 2025 saw 617% sales growth, improved margins, and strong cash flow amid expanding projects.META
Q3 202520 Nov 2025 - Net sales rose over 400% in Q2 2025, with improved margins and narrowed losses.META
Q2 202521 Aug 2025 - Revenue fell and losses deepened, but a major Greek contract signals growth potential.META
Q3 202413 Jun 2025 - Secured a landmark 30 MW electrolysis order in Greece amid lower sales and ongoing losses.META
Q2 202413 Jun 2025 - Record Q1 sales and strategic wins position Metacon for continued growth in green hydrogen.META
Q1 20256 Jun 2025 - Order intake soared and cash reserves strengthened, positioning for growth in 2025.META
Q4 20245 Jun 2025
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