Clean Motion (CLEMO) Q1 2026 earnings summary

Executive summary

• Achieved significant commercial milestones, including a breakthrough order of 8 vehicles to TGCC in Stockholm valued at nearly 2 MSEK, validating pricing and business model across 3 of 4 target segments.

• Secured a framework agreement with Göteborgs Stads Leasing AB, opening opportunities for vehicle deliveries to Sweden's second-largest city.

• Delivered first EVIG Memorial vehicles to Bestattung Wien, leading to a broader sales and marketing partnership targeting 50 vehicles in 2026 and 100 annually thereafter.

• Established new distribution agreements in Denmark and Switzerland, expanding international reach.

Financial highlights

• Net sales for the quarter were 854 TSEK, up from 61 TSEK year-over-year.

• Operating result before depreciation was -3,590 TSEK, an improvement from -4,436 TSEK year-over-year.

• Result after financial items was -5,167 TSEK, compared to -5,471 TSEK in the same quarter last year.

• Cash and cash equivalents at quarter-end totaled 2,470 TSEK.

• EU project funding contributed 4.2 MSEK during the quarter.

Outlook and guidance

• Management expects 2026 to be a breakthrough year, supported by new sales channels, strategic partnerships, and increased demand for sustainable mobility solutions.

• Ongoing efforts to secure additional EU program funding of approximately 25 MSEK.