SeaTwirl (STW) Q2 2025 earnings summary

Executive summary

• Achieved a historic milestone by advancing to the final phase for a €15 million EU grant for the Verti-Go project, supporting full-scale 2MW turbine development.

• Launched a new two-bladed rotor design, enabling easier assembly and reduced infrastructure needs.

• Entered a strategic partnership in Canada to explore market opportunities and long-term collaboration.

• Increased visibility through participation in major industry events and international collaborations.

Financial highlights

• Net sales remained at 0 SEK for the six-month period; operating loss improved to -4,925,818 SEK from -7,137,302 SEK year-over-year.

• Cash flow for the period was -5,652,015 SEK, with cash and cash equivalents at 35,785,228 SEK at period end.

• Equity totaled 121,267,400 SEK as of June 30, 2025.

• Earnings per share for Q2 were -0.83 SEK, compared to -1.09 SEK in Q2 2024.

• Solid equity ratio of 96% as of June 30, 2025.

Outlook and guidance

• Preparations underway for project launch in autumn, contingent on finalizing the EU grant.

• Focus on recruitment and organizational growth to support upcoming large-scale projects.

• Continued strategic expansion in Norway, UK, Canada, Southern Europe, Southeast Asia, and Japan.