C-RAD (CRAD) Q1 2025 earnings summary

Executive summary

• Achieved 5% year-over-year order intake growth to SEK 97 million, with EMEA and APAC driving gains and continued innovation in SGRT technology.

• Revenue rose 1% year-over-year to SEK 119 million, led by strong deliveries in the Americas and APAC.

• Maintained stable profitability and positive cash flow in a challenging, wait-and-see market.

• EBIT margin was 9% (down from 12%), but adjusted EBIT margin reached 18% (up from 10%) when excluding currency effects.

• Service business showed strong growth, especially in EMEA and APAC, with service order intake up 58%.

Financial highlights

• Order intake: SEK 97 million (+5% YoY); revenue: SEK 119 million (+1% YoY); gross profit: SEK 78 million.

• Gross margin improved to 66% (up from 65% YoY).

• EBIT was SEK 10 million (down from SEK 14.2 million), but adjusted EBIT excluding currency effects was SEK 21.2 million (up from SEK 11.9 million).

• Operating expenses decreased to SEK 56.1 million from SEK 64 million year-over-year.

• Cash balance at quarter-end was SEK 161 million, up 10% year-over-year, driven by SEK 26 million in operating cash flow.

Outlook and guidance

• Medium-term targets: average organic growth exceeding 10%, EBIT margin of 25%, and at least 30% of net profit returned to shareholders.

• Focus on further market penetration, innovation, and expanding service offerings to support growth and profitability.

• Management remains confident in long-term market opportunities, despite short-term uncertainty from geopolitical and macroeconomic factors.