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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.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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