Malmbergs Elektriska (MEAB) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was SEK 119.8 million, down from SEK 134.7 million year-over-year, reflecting continued weak demand in installation materials and a low investment climate.

• Operating result was negative at SEK -4.1 million, an improvement from SEK -5.6 million in Q1 2024, but pre-tax loss widened to SEK -6.9 million.

• Net result after tax was SEK -7.1 million, compared to SEK -4.8 million last year; EPS was SEK -0.89 versus SEK -0.60.

• Cash flow from operating activities improved to SEK 13.7 million from SEK -4.8 million year-over-year.

• Cost adaptation and efficiency measures initiated in 2024 are starting to yield results, with continued investment in energy-efficient solutions and digital channels.

Financial highlights

• Revenue declined 11% year-over-year to SEK 119.8 million.

• Operating margin improved to -3.4% from -4.2% year-over-year.

• Net loss increased to SEK -7.1 million; return on equity fell to -7.8% from -1.1%.

• Solid equity ratio at 68.2%, up from 66.9% last year.

• Inventory reduced to SEK 223.9 million from SEK 238.9 million year-over-year.

Outlook and guidance

• Management maintains focus on long-term priorities and disciplined execution despite a cautious market.

• No significant events after the reporting period; market remains cautious due to geopolitical and economic uncertainties.