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Minesto (MINEST) investor relations material

Minesto 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 summary27 Nov, 2025

Executive summary

  • Raised SEK 99 million through a rights issue, reducing fixed costs by 35% and strengthening the financial position.

  • Completed a major reorganization and expanded multidisciplinary sales and commercial teams to accelerate global market entry and project development.

  • Fenney/Fenja Capital converted SEK 22.2 million in loans to equity as part of the rights issue.

  • Focused on accelerating commercial progress, expanding cross-functional sales team, and targeting global markets including Indonesia, Taiwan, Wales, Canada, Japan, South Korea, and the Faroe Islands.

  • Ongoing development of the Vestmanna microgrid system, with the first phase expected operational in spring 2026.

Financial highlights

  • Rights issue provided SEK 99 million in gross proceeds, with 41.3% subscribed and 23.7% covered by guarantees.

  • Loan conversion of SEK 22.2 million improved the balance sheet.

  • Operating income for Jan–Sep 2025 was SEK 17,046 thousand, down from SEK 19,320 thousand year-over-year.

  • Operating loss improved to SEK -28,158 thousand from SEK -32,884 thousand year-over-year; net loss was SEK -30,138 thousand, compared to SEK -32,731 thousand.

  • Cash and cash equivalents at period end were SEK 26,422 thousand.

Outlook and guidance

  • Focus on accelerating commercial roll-out and leveraging new funding to strengthen the commercial offer.

  • Expect to share more technical and production data in 2026.

  • Confident in achieving sales breakthroughs and commercial deployments, with focus on microgrids and large arrays.

  • Anticipate easier future capital raising as commercial milestones are met.

  • Expansion of the Vestmanna test site into a microgrid system to address non-grid and global commercial needs.

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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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