Magle Chemoswed (MAGLE) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw a significant clean-up of the product portfolio, with major asset write-downs totaling approximately 100 MSEK, impacting EBITDA and depreciation/amortization.

• Management prioritized business focus, divesting or writing down underperforming assets, especially in the AXXO product line and Saving Chlora.

• Core platforms Magle Chemoswed and Magle Biopolymers performed in line with expectations, with Biopolymers increasing output in a seasonally strong quarter.

• Expanded collaboration with Sirtex Medical and an exclusive out-licensing agreement for Magle Biopharma were key strategic moves.

• The company is taking steps to strengthen its financial position through planned capital raises and amendments to bond financing.

Financial highlights

• Q4 2025 revenue was 78.0 MSEK, down from 84.1 MSEK in Q4 2024; full-year 2025 revenue was 296.6 MSEK, up from 256.2 MSEK in 2024.

• Q4 2025 EBITDA was -58.3 MSEK (vs. 20.1 MSEK in Q4 2024); full-year EBITDA was -26.7 MSEK (vs. 58.9 MSEK in 2024).

• Q4 2025 EBIT was -120.3 MSEK (vs. -3.9 MSEK in Q4 2024); full-year EBIT was -127.0 MSEK (vs. 23.2 MSEK in 2024).

• Q4 2025 net loss was -134.0 MSEK (vs. -0.8 MSEK in Q4 2024); full-year net loss was -159.9 MSEK (vs. 11.9 MSEK profit in 2024).

• Earnings per share for Q4 2025 was -6.49 (vs. -0.04 in Q4 2024); full-year EPS was -7.74 (vs. 0.93 in 2024).

Outlook and guidance

• Management expects the final audited outcome for 2025 may differ significantly, with a potential negative deviation up to SEK 75 million as asset evaluations continue.

• Additional capital of at least SEK 70 million is required by June 2026, subject to the outcome of the first capital raise.

• The company is focused on operational efficiency, margin improvement, and a more business-centric model.