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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.
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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