Enrad (ENRAD) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 increased to 12,575 Tkr from 8,011 Tkr year-over-year; nine-month sales rose to 44,022 Tkr from 28,269 Tkr year-over-year.

• Operating result before depreciation and financial items for Q3 was -311 Tkr (502 Tkr last year); for nine months, -1,788 Tkr (1,257 Tkr last year).

• Net result per share for Q3 was -0.05 kr (-0.01 kr last year); for nine months, -0.18 kr (-0.03 kr last year).

• Equity at period end was 44,227 Tkr (24,442 Tkr last year); equity ratio improved to 77% (64%).

Financial highlights

• Q3 operating loss after depreciation and financial items was -1,422 Tkr (-261 Tkr last year); nine-month loss was -4,979 Tkr (-702 Tkr last year).

• Cash at quarter end was approximately 20 MSEK; inventory and receivables tied up about 29 MSEK.

• Agreement in place to finance working capital by pledging receivables and inventory, with 5 MSEK already utilized.

Outlook and guidance

• Management expects continued operations throughout 2025 without additional capital injection.

• Focus remains on growth in the Netherlands and product/production investments.

• Aim to secure first order in the Netherlands before year-end, with potential capital reallocation to meet demand.