Hybricon (HYCO) Q2 2025 earnings summary

Executive summary

• Revenue for January–June 2025 was kSEK 7,780, nearly flat year-over-year, while net income fell to kSEK -728 from kSEK 191.

• Q2 2025 saw a revenue decline to kSEK 3,185 from kSEK 3,705, with a net loss of kSEK -669 versus a profit of kSEK 56 in Q2 2024.

• Lower Identic product deliveries and increased investment in GridLink technology drove the negative result.

Financial highlights

• Operating income for H1 2025 was kSEK -523, down from kSEK 438 year-over-year.

• EBITDA for Q2 2025 was kSEK -572, compared to kSEK 175 in Q2 2024.

• EPS for H1 2025 was SEK -0.07, down from SEK 0.02.

• Equity per share increased to SEK 0.96 from SEK 0.87.

• Cash flow for H1 2025 was kSEK -562, compared to kSEK 534 in H1 2024.

Outlook and guidance

• Management expects the impact of GridLink investments to be seen in coming quarters, with no signs contradicting the positive outlook.

• Next GridLink demonstration with Varberg Energi is planned for autumn 2025.