Vimab Group (VIMAB) Q1 2025 earnings summary

Executive summary

• Net sales decreased by 18% to 55.1 MSEK compared to Q1 2024, mainly due to lower sales in Vimab BESS.

• Operating loss widened to -25.2 MSEK from -17.1 MSEK year-over-year.

• Negative cash flow of -15.6 MSEK was offset by a directed share issue raising 21 MSEK.

• Ongoing process to sell Vimab AB for 165 MSEK; expected to close soon.

• Large non-binding orders for battery systems total approximately 2 billion SEK.

Financial highlights

• Gross margin improved to 66.5% from 65.4% year-over-year.

• Net loss for the period was -30.9 MSEK, compared to -18.6 MSEK in Q1 2024.

• Result per share was -1.2 SEK, down from -0.7 SEK year-over-year.

• Cash and cash equivalents at period end were 17.1 MSEK, up from 14.1 MSEK last year.

• Solidarity dropped to 3.2% from 20.0% year-over-year.

Outlook and guidance

• Delivery of announced Vimab BESS orders expected to start this year, anticipated to significantly improve results.

• Metalworking and contract manufacturing segments are growing with high capacity utilization.

• European defense and infrastructure stimulus packages expected to boost manufacturing industry demand.

• Market for large-scale battery systems and proprietary software is expanding rapidly.