Lightning Group (LIGR) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was 12.6 MSEK, down 2.8% year-over-year due to project and delivery delays, but H1 revenue increased 4.8% year-over-year to 26.7 MSEK.

• EBITDA improved to -1.4 MSEK for H1 2025 from -2.0 MSEK in H1 2024, with the EBITDA margin rising to -5.3% from -7.7%.

• Strategic acquisition of MaSeTek AB completed, broadening the product offering and sales capacity.

• Strong order book and cost control position the group for growth in H2 2025.

Financial highlights

• Q2 2025 net sales: 12.6 MSEK (Q2 2024: 12.9 MSEK); H1 2025: 26.7 MSEK (H1 2024: 25.5 MSEK).

• Q2 2025 EBITDA: -1.8 MSEK (Q2 2024: -1.9 MSEK); H1 2025: -1.4 MSEK (H1 2024: -2.0 MSEK).

• Q2 2025 net result: -2.5 MSEK (Q2 2024: -2.5 MSEK); H1 2025: -2.7 MSEK (H1 2024: -3.2 MSEK).

• Cash flow for H1 2025: 16.8 MSEK, mainly from a 19 MSEK rights issue.

• Solid equity ratio at 64.1% as of June 30, 2025.

Outlook and guidance

• Entering H2 2025 with a strong order book and initiatives for growth in Sweden and internationally.

• Focus on converting pipeline to profitable growth and meeting demand for energy-efficient, sustainable solutions.

• No formal financial forecast provided.