Vimab Group (VIMAB) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 increased by 23.5% year-over-year to 93.0 MSEK, driven mainly by battery system sales in Vimab BESS.

• Operating result improved to -3.7 MSEK from -9.9 MSEK year-over-year, with EBITDA at 2.5 MSEK versus -0.8 MSEK.

• Major EPC order of 98 MSEK for Vimab BESS and a 140 MSEK divestment agreement for Vimab AB expected to positively impact results.

Financial highlights

• Q3 net sales: 93.0 MSEK (75.3), up 23.5% year-over-year; nine-month net sales: 226.9 MSEK (237.8), down 4.6%.

• Q3 EBITDA: 2.5 MSEK (-0.8); Q3 operating result: -3.7 MSEK (-9.9); Q3 EPS: -0.2 SEK (-0.5).

• Q3 cash flow from operations: -26.2 MSEK (-6.1); nine-month cash flow: -41.9 MSEK (1.9).

• Gross margin Q3: 66.0% (81.8%); nine-month gross margin: 72.7% (79.0%).

Outlook and guidance

• Several new projects initiated in Q3 are expected to further improve future sales and results.

• The announced sale of Vimab AB is projected to positively impact annual results by approximately 120 MSEK.

• Strong market outlook for metal processing and contract manufacturing, supported by defense and infrastructure investments.