Mantex (Mantex) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 reached 1,720 tkr, a significant increase from 342 tkr in Q3 2024, driven by a one-time sale of a Biomass Analyzer unit.

• EBIT improved to -2,806 tkr from -7,653 tkr year-over-year, reflecting cost-saving measures.

• Cash flow from operating activities was positive at 404 tkr, compared to -5,366 tkr in Q3 2024.

• New CEO Gustav Melin, previously a board member and bioenergy expert, was appointed in September 2025.

• Divestment of the stake in Andritz Technologies AB provided immediate liquidity and future royalty income.

Financial highlights

• Q3 2025 net sales: 1,720 tkr (Q3 2024: 342 tkr); nine months 2025: 2,534 tkr (2024: 2,233 tkr).

• EBIT for Q3 2025: -2,806 tkr (Q3 2024: -7,653 tkr); nine months 2025: -12,471 tkr (2024: -18,792 tkr).

• Result per share for Q3: -5.69 SEK (Q3 2024: -0.03 SEK); nine months: -10.91 SEK (2024: -0.08 SEK), impacted by a reverse split.

• Equity at period end: 9,213 tkr (2024: 6,200 tkr).

Outlook and guidance

• Expansion of product certification to additional wood assortments expected in Q1 2026, enabling broader market access.

• Ongoing focus on cost reduction and operational improvements under new leadership.

• International sales expansion planned for 2026 and beyond.