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Minesto (MINEST) investor relations material

Minesto Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary14 Aug, 2025

Executive summary

  • Achieved a 25% increase in Dragon 12 production and power performance after upgrades, validating technology for commercial deployment and supporting commercial-scale ambitions.

  • Secured a $25 million (25 MSEK) grant for a microgrid project in the Faroe Islands, forming a consortium with Capture Energy, SEV, and consultants.

  • Completed organizational restructuring, reducing fixed costs by 30–35% and consolidating operations in Gothenburg to increase efficiency.

  • Broadened market presence to eleven geographic markets, engaging with large renewable project developers and enhancing grid impact analysis tools.

  • Achieved significant brand exposure through global marketing initiatives and participation in major international events.

Financial highlights

  • Operating income for Jan–Jun 2025 was SEK 12,234 thousand, mainly from capitalized development work, down from SEK 13,549 thousand year-over-year.

  • Net loss for the period was SEK -21,769 thousand, compared to SEK -23,143 thousand year-over-year.

  • Cash and cash equivalents at period end were SEK 30,241 thousand, down from SEK 76,051 thousand year-over-year.

  • Operating loss improved to SEK -20,502 thousand from SEK -23,268 thousand year-over-year.

  • Net sales were SEK 0 thousand, compared to SEK 75 thousand in the same period last year.

Outlook and guidance

  • Focused on commercializing upgraded Dragon Class systems and expanding into new markets, with ongoing build and design supported by the Swedish Energy Agency.

  • Positioned for commercial project delivery with a leaner organization and reduced fixed costs.

  • Ongoing preparations for microgrid deployment and further Dragon-class platform upgrades.

  • Plans to manage two additional projects in parallel with the Faroe Islands, targeting both microgrid and larger array installations.

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Frequently asked questions

Minesto engages in designing and constructing marine renewable energy systems to generate electricity from low temperature differences. Its product is Deep Green, a submerged kite that contains power electronics, sensors, and control systems; captures kinetic energy by flying in loops powered by the tidal stream at site-specific locations; and generates electricity by running through a generator. Minesto AB was founded in 2007 and is headquartered in Gothenburg, Sweden.

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