Enrad (ENRAD) Q1 2025 earnings summary

Executive summary

• Net sales increased 112% year-over-year in Q1 2025 to 16,210 TSEK, exceeding growth expectations.

• EBITDA improved to 855 TSEK from -620 TSEK year-over-year; EBIT at -175 TSEK versus -1,240 TSEK.

• Equity strengthened to 49,032 TSEK from 22,028 TSEK year-over-year; cash position at 37 MSEK.

• Fully guaranteed rights issue of approx. 25.7 MSEK completed, supporting continued growth.

• No significant events after the reporting period.

Financial highlights

• Net sales: 16,210 TSEK (Q1 2025) vs. 7,624 TSEK (Q1 2024); EBITDA: 855 TSEK vs. -620 TSEK.

• EBIT: -175 TSEK vs. -1,240 TSEK; EPS: -0.01 SEK vs. -0.05 SEK year-over-year.

• Cash at quarter-end: 37 MSEK vs. 3 MSEK year-over-year; inventory and receivables: 24 MSEK.

• Equity ratio: 68% vs. 64% year-over-year.

Outlook and guidance

• Management expects continued strong growth, with Q2 to reflect benefits from lower component prices.

• Sufficient liquidity for operations through 2025 without additional capital injection.

• Focus on integrating new hires, digitalizing production, and expanding international sales.