Spinnova (SPINN) H2 2025 earnings summary

Executive summary

• Technology development focused on cost efficiency, consortium building, and strategic realignment, with significant progress in partnerships.

• Full ownership of Woodspin Oy and Suzano Finland Oy was acquired in October 2025, consolidating production assets and enabling strategic flexibility.

• Management changes included a new CEO and organizational restructuring to align with the company's development stage.

• Revenue for 2025 was EUR 344 thousand, down from EUR 762 thousand, mainly from technology services to the Respin joint venture.

• Operating result for 2025 was EUR -41.3 million, impacted by impairment losses on Woodspin and demo facility leases.

Financial highlights

• Revenue for 2025 was EUR 344 thousand, down from EUR 762 thousand in 2024.

• Operating result (EBIT) for 2025 was EUR -41.3 million, compared to EUR -18.3 million in 2024.

• Net loss for 2025 was EUR -40.7 million, compared to EUR -16.8 million in 2024.

• Earnings per share (diluted and undiluted) was EUR -0.78, down from EUR -0.32 in 2024.

• Net cash at year-end was EUR 18.2 million, down from EUR 40.9 million the previous year.

Outlook and guidance

• No financial guidance will be provided for 2026.

• Production at demo factories halted; resumption will depend on business rationale.

• Focus remains on cost reduction, technology development, and scaling through partnerships.