SolTech Energy (SOLT) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was SEK 386.2 million, a 37–38% decrease year-over-year due to weak solar and construction markets and significant price pressure.

• EBITDA for Q2 2025 was SEK -29.1 million to SEK -44.7 million, impacted by lower volumes and only partially offset by cost reductions.

• Ongoing organizational restructuring and cost-saving measures are expected to improve profitability going forward.

• Major post-quarter event: acquisition of Sesol, with Nordic Capital becoming the largest shareholder with a 30% stake.

• The quarter was marked by longer decision cycles and increased competition.

Financial highlights

• Q2 2025 net sales: SEK 386.2 million, down 37–38% from Q2 2024; organic growth -37%.

• EBITDA: SEK -29.1 million to SEK -44.7 million (Q2 2024: SEK 50.1 million); adjusted EBITDA for Q2 2024 was SEK -6.8 million.

• Cash flow from operations: SEK -16.6 million; total cash flow for the period: SEK -5.3 million, improved from SEK -68.4 million last year.

• Net result after tax: SEK -57.0 million (Q2 2024: SEK 6.1 million); earnings per share: SEK -0.43.

• Last 12 months’ revenue: SEK 2.1 billion, slightly lower than 2024.

Outlook and guidance

• Continued focus on profitability through cost adjustments, efficiency improvements, and pricing.

• Expectation of growth over the economic cycle despite current market weakness.

• Sesol acquisition and capital raise expected to strengthen market position and profitability in the coming year.

• Fully guaranteed rights issue of SEK 335 million expected to secure liquidity for the next 12 months.

• Long-term demand for solar energy, storage, and charging infrastructure remains strong.