EatGood (EATG) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 839 TSEK, down from 1,003 TSEK in Q1 2024, with most sales from exports, mainly to the UK.

• Operating result was -989 TSEK, compared to -826 TSEK in the same quarter last year.

• New exclusive distributor appointed in the UK; significant order of ~600 TSEK received from Whitco.

• Josef Ibrahim appointed as new CEO; Henrik Önnermark shifts focus to international sales.

• Extra general meeting called to propose a new share issue of 5 MSEK to strengthen liquidity.

Financial highlights

• Net sales decreased 16% year-over-year to 839 TSEK.

• Operating loss widened to -989 TSEK from -826 TSEK year-over-year.

• Cash position at quarter-end was 2 TSEK, with accounts receivable of 362 TSEK.

• Inventory valued at 7,388 TSEK, providing potential liquidity upon sales.

• Equity ratio at quarter-end was 38%.

Outlook and guidance

• Growing market interest in air fry technology, especially in the UK and North America.

• Focus on sales and installations in the UK, USA, Canada, and Sweden, with marine market also showing increased interest.

• Ongoing cost control and production optimization to adapt to current market conditions.