Skandia GreenPower (SKAND) Q1 2025 earnings summary

Executive summary

• Achieved stable operations in Q1 2025, with results in line with forecasts and continued organic customer growth.

• Customer base reached 56,781 at quarter-end, up 0.54% from the start of the year.

• Net profit reached NOK 2.9 million in Q1 2025, up from NOK 0.0 million in Q1 2024.

• EBITDA rose to NOK 7.5 million in Q1 2025 from NOK 2.2 million in Q1 2024.

• Completed acquisition of Motkraft, now fully integrated and expected to contribute immediate cash flow.

Financial highlights

• Gross revenue for Q1 2025 was NOK 196.1 million, up from NOK 73.8 million in Q1 2024.

• Net revenue increased to NOK 16.9 million from NOK 7.8 million year-over-year.

• Net result after tax was NOK 2.9 million, up from NOK 0 million in Q1 2024.

• Net cash flow from operations reached NOK 77.2 million, mainly due to positive EBITDA and working capital changes.

Outlook and guidance

• EBITDA guidance for 2025 is NOK 31 million.

• Targeting 100,000 customers by the end of 2026, up from 56,781 at Q1 2025.

• Plans to distribute 90% of net result for 2025 and 2026 via dividends or buybacks, starting H2 2025, subject to satisfactory H1 2025 results.

• Will continue to explore M&A and strategic partnerships to enhance shareholder value.

• Results for Q1 2025 are in line with internal forecasts, indicating stable performance.