Sustainable Energy Solutions Sweden (SENS) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 374 thousand, down from SEK 1,077 thousand year-over-year.

• EBIT for the quarter was SEK -6,068 thousand, a slight improvement from SEK -6,246 thousand in Q1 2024.

• EBITDA was SEK -3,987 thousand, compared to SEK -4,370 thousand in the prior year.

• Cash flow from operating activities improved to SEK -365 thousand from SEK -6,136 thousand year-over-year.

• Strategic focus remains on advancing project sales and expanding the energy storage and production portfolio in Sweden and Finland.

Financial highlights

• Net sales declined 65% year-over-year to SEK 374 thousand.

• EBIT margin remained negative; EBIT at SEK -6,068 thousand.

• Net loss for the quarter was SEK -9,102 thousand, compared to SEK -9,579 thousand in Q1 2024.

• Equity at period end was SEK -21,303 thousand, down from SEK -3,145 thousand a year earlier.

• Cash and cash equivalents at March 31, 2025, were SEK 511 thousand.

Outlook and guidance

• Company continues transformation to an international project developer, focusing on large-scale energy storage projects with longer lead times.

• Priority is to complete sales from the project portfolio to improve margins and earnings over time.

• Ongoing efforts to strengthen the project pipeline and market presence in Sweden and Finland.