Igrene (ABI) Q1 2025 earnings summary

Executive summary

• Net loss for the quarter was -2,551 KSEK compared to -767 KSEK in the same quarter last year.

• No revenues were reported for the quarter.

• Strategic focus remains on extracting hydrogen and carbon from biogenic methane in Siljansringen, with a demonstration plant planned in partnership with SEID AS.

• The company completed a rights issue raising 13.2 MSEK before costs, increasing share capital and resulting in a 51% dilution for non-participating shareholders.

• Application for environmental and extraction permits for the demonstration plant was submitted in January 2025.

Financial highlights

• Operating loss for the quarter was -2,551 KSEK, up from -767 KSEK year-over-year.

• Earnings per share remained at -0.02 SEK, unchanged from the same quarter last year.

• Cash and cash equivalents at quarter-end were 10,540 KSEK, up from 3,533 KSEK year-over-year.

• No interest-bearing debt as of November 30, 2024.

• Equity at quarter-end was 28,798 KSEK, with a solid equity ratio of 95.9%.

Outlook and guidance

• The company aims to commercialize its methane-to-hydrogen and carbon technology, with EU support and a focus on environmental benefits.

• Ongoing efforts to secure further EU funding for the demonstration plant, with a new application for 80 MSEK submitted.