Sustainable Energy Solutions Sweden (SENS) Q3 2025 earnings summary

Executive summary

• Focused on converting project portfolio into tangible results, emphasizing short-term revenue and long-term value growth.

• Continued development of key energy storage projects, including battery storage (BESS), underground pumped hydro storage (UPHS), and solar power (PV).

• Secured extension of €26.3 million Finnish government grant for UPHS project in Pyhäsalmi, Finland.

• Leadership transition: Anders Björkenbo appointed as new CEO in August 2025.

Financial highlights

• Net sales for Q3 and YTD 2025 were SEK 0 thousand, down from SEK 17,002 thousand YTD 2024.

• EBIT for Q3 2025 was SEK -6,241 thousand (Q3 2024: -8,965 thousand); YTD EBIT was SEK -10,413 thousand (YTD 2024: -9,741 thousand).

• EBITDA for Q3 2025 was SEK -2,362 thousand (Q3 2024: -6,836 thousand); YTD EBITDA was SEK -4,137 thousand (YTD 2024: -3,872 thousand).

• Net result for Q3 2025 was SEK -9,689 thousand (Q3 2024: -12,192 thousand); YTD net result was SEK -20,285 thousand (YTD 2024: -7,092 thousand).

• Cash flow from operating activities for Q3 2025 was SEK 1,339 thousand (Q3 2024: 659 thousand); YTD was SEK -1,509 thousand (YTD 2024: 4,169 thousand).

• Cash and cash equivalents at September 30, 2025, were SEK 638 thousand (September 30, 2024: 13,130 thousand).

Outlook and guidance

• Focus remains on advancing and monetizing energy storage projects, with several battery initiatives nearing construction phase.

• Anticipates potential to apply for Swedish government support for energy storage projects in 2026.

• Ongoing transformation from contractor/consultant to international project developer, with longer lead times before revenue realization.