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Eurobattery Minerals (BAT) investor relations material

Eurobattery Minerals Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary18 Nov, 2025

Executive summary

  • Transitioned from exploration to extraction with acquisition of a majority stake in the San Juan wolfram mine in Spain, marking a strategic shift and portfolio diversification.

  • Strengthened ESG focus, emphasizing environmental protection, water management, and community engagement in both Spain and Finland.

  • Secured financing through rights and directed share issues to support project development and operational momentum.

Financial highlights

  • Net sales remained at SEK 0 for both Q3 and the first nine months of 2025, unchanged from the previous year.

  • Q3 operating loss after financial items was SEK -4,414 thousand (Q3 2024: SEK -4,464 thousand); nine-month loss was SEK -15,725 thousand (9M 2024: SEK -19,274 thousand).

  • EBITDA for Q3 was SEK -3,564 thousand (Q3 2024: SEK -4,010 thousand); for nine months, SEK -11,315 thousand (9M 2024: SEK -16,406 thousand).

  • Cash and cash equivalents at period end were SEK 8,700 thousand (Sep 2024: SEK 613 thousand); equity was SEK 136,935 thousand (Sep 2024: SEK 114,941 thousand).

  • Cash flow from operating activities for Q3 was SEK -9,587 thousand; for nine months, SEK -21,722 thousand.

Outlook and guidance

  • San Juan project expected to generate positive cash flow in H2 2026, with a pilot processing plant and offtake agreement in place.

  • Plans to apply for Strategic Project status under the EU Critical Raw Materials Act for both San Juan and Hautalampi projects.

  • Continued focus on responsible mining, ESG leadership, and building a secure European supply chain for critical minerals.

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Frequently asked questions

Eurobattery Minerals AB is a Sweden-based mining company focused on the exploration and development of battery mineral resources. The company’s projects target sustainable extraction of key materials, such as nickel, cobalt, and copper, which are essential for the production of electric vehicle batteries and renewable energy storage systems. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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