SolTech Energy (SOLT) Q4 2025 earnings summary

Executive summary

• Significant strategic restructuring in 2025 focused on exiting unprofitable consumer solar segments and reinforcing core B2B operations in roofing, electrical, façade, and large-scale solar projects.

• Completed a fully guaranteed rights issue raising SEK 329 million, strengthening financial position and bringing in a new major shareholder.

• Increased ownership in Spanish subsidiary Sud Renovables to 99.7% and secured a major solar park contract worth approximately SEK 210 million.

• Consumer solar operations in Sweden, Norway, and the Netherlands were restructured, liquidated, or sold due to persistent weak market conditions.

Financial highlights

• Q4 net sales: SEK 565.5 million (down 11% year-over-year); full-year net sales: SEK 1,709.3 million (down 24%).

• Organic growth for Q4 and full year: -32% year-over-year.

• Q4 EBITDA: SEK -80.4 million (22.7); full-year EBITDA: SEK -145.9 million (39.9).

• Q4 EBITA: SEK -122.4 million (1.6); full-year EBITA: SEK -237.9 million (-27.3).

• Q4 net result: SEK -345.7 million (-171.0); full-year net result: SEK -501.3 million (-289.3).

• Q4 cash flow from operations: SEK -11.7 million (96.0); full-year: SEK -161.2 million (75.8).

Outlook and guidance

• Focus shifts to profitable B2B segments (roofing, electrical, façade, large-scale solar) with expectations of improved margins and positive cash flow.

• Market recovery signals seen in large-scale installations and improved interest rate environment.

• Financial targets for 2028: SEK 8 billion in revenue and 10% EBITA margin, currently under review due to strategic changes.