CirChem (CIRCHE) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 2.1 MSEK, down from 4.6 MSEK year-over-year due to absence of one-time high-margin contracts, reflecting a normalized recurring business base.

• Operating loss widened to -4.5 MSEK from -1.2 MSEK year-over-year, mainly due to the lack of extraordinary volumes seen in Q1 2025.

• Strategic partnerships expanded in Norway, Germany, and Denmark, and a major five-year contract was signed with Stena Recycling for recurring waste flows from the pharmaceutical industry.

Financial highlights

• Net sales for Q1 2026: 2,092 tkr (Q1 2025: 4,550 tkr).

• EBITDA for Q1 2026: -4,224 tkr (Q1 2025: -926 tkr).

• Net result per share: -0.12 SEK (Q1 2025: -0.04 SEK).

• Cash flow for the period: -6,876 tkr (Q1 2025: -3,607 tkr).

• Cash and cash equivalents at period end: 6,771 tkr.

Outlook and guidance

• Short-term goal is to achieve positive cash flow and break-even at the Vargön facility.

• Medium-term target: 25,000 tons annual capacity, 250 MSEK revenue, and 15% EBITDA margin at full optimization.

• Long-term vision includes geographic expansion in Northern Europe with up to four facilities and potential 1,000 MSEK revenue.