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Cortus Energy (CE) investor relations material

Cortus Energy Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2024 earnings summary27 Feb, 2025

Executive summary

  • Achieved positive operating profit in Q4 2024, mainly due to a one-time retroactive reduction in employer contributions, resulting in a net profit of 3.6 MSEK compared to a loss of -22.2 MSEK in Q4 2023.

  • Full-year 2024 showed improved but still negative results: net loss after tax of -53.7 MSEK, down from -83.5 MSEK in 2023.

  • Production and availability records set for both biocoal and syngas at the Höganäs facility; new engineering projects and process improvements implemented.

Financial highlights

  • Q4 2024 net sales increased to 1.5 MSEK (0.5 MSEK in Q4 2023); full-year net sales were 4.0 MSEK (6.8 MSEK in 2023).

  • Q4 operating profit before depreciation was 5.7 MSEK (-19.1 MSEK); after depreciation, 4.4 MSEK (-20.4 MSEK).

  • Q4 net profit after tax was 3.6 MSEK (-22.2 MSEK); EPS 0.04 SEK (-0.01 SEK).

  • Full-year operating loss after depreciation was -44.1 MSEK (-76.4 MSEK); net loss after tax -53.7 MSEK (-83.5 MSEK).

  • Cash flow for the year was 6.4 MSEK (-26.4 MSEK); cash and bank at year-end 9.4 MSEK (3.0 MSEK).

Outlook and guidance

  • New biomass supply agreement for Höganäs expected to lower fuel costs in 2025.

  • Biocoal sales accelerating in Q1 2025 despite seasonal lows; expectation to sell all produced volumes in coming quarters.

  • Anticipated regulatory support for syngas could improve economics.

  • Ongoing efforts to secure financing, including a 10 MSEK loan from Unidaco, are critical for continued operations and expansion.

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Frequently asked questions

Cortus Energy AB is a Swedish company that provides renewable energy solutions. It uses a proprietary technology known as WoodRoll, which converts biomass into Synthesis Gas (Syngas) that can replace fossil fuels. The company serves various sectors including the process industry, power generation, transport, and waste management. It offers high-temperature fuel and energy gas for industrial processes, electricity generation through combustion engines, and transportation fuels. The company is headquartered in Kista, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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