Mantex (Mantex) Q4 2024 earnings summary

Executive summary

• Revenue for Q4 2024 was 430 tkr, down from 3,079 tkr in Q4 2023; full-year revenue was 2,663 tkr, down from 6,830 tkr year-over-year.

• EBIT for Q4 2024 was -6,501 tkr (Q4 2023: -4,994 tkr); full-year EBIT was -25,293 tkr (2023: -16,696 tkr).

• Two five-year contracts for the first-generation Biomass Analyzer were signed, each valued at 2.3 mkr.

• Technical breakthrough achieved for next-generation Biomass Analyzer, enabling measurement of moisture and ash content in complex materials.

• A rights issue raised approximately 28 mkr before costs and debt offset.

Financial highlights

• Q4 operating income: 430 tkr (Q4 2023: 3,079 tkr); full-year: 2,663 tkr (2023: 6,830 tkr).

• Q4 EBIT: -6,501 tkr (Q4 2023: -4,994 tkr); full-year EBIT: -25,293 tkr (2023: -16,696 tkr).

• Q4 cash flow from operations: -8,092 tkr (Q4 2023: -3,869 tkr); full-year: -25,326 tkr (2023: -16,013 tkr).

• Result per share for Q4: -0.01 kr (Q4 2023: -0.03 kr); full-year: -0.08 kr (2023: -0.06 kr).

• Equity at year-end: 30,086 tkr (2023: 28,048 tkr).

Outlook and guidance

• Next-generation Biomass Analyzer expected to begin deliveries in Q4 2025.

• Market potential for the new analyzer estimated at 1,500 units globally, with 200 units in the Baltic region.

• Focus on Swedish and Baltic markets for initial commercialization.