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Spinnova (SPINN) investor relations material
Spinnova H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic review and restructuring followed Suzano's decision to halt further investment in the Woodspin joint venture, leading to full ownership acquisition and a €5 million capital contribution from Suzano.
A new strategy was announced in June, focusing on cost efficiency, technology development, and building an international consortium to scale operations.
CEO transition occurred in March 2025, with Janne Poranen appointed as CEO and Chair, and significant management and organizational changes implemented.
Financial highlights
Revenue for H1 2025 was €100k, down from €362k in H1 2024, mainly due to reduced service sales to Woodspin.
Operating result (EBIT) was -€26.9m, significantly impacted by an €18.4m impairment loss related to the Woodspin joint venture.
Net loss for the period was -€26.3m, compared to -€9.2m in H1 2024.
Earnings per share (diluted and undiluted) was -€0.50, down from -€0.18 year-over-year.
Net cash position at period end was €33.3m, down from €46.6m a year earlier.
Outlook and guidance
No financial guidance will be provided for 2025 and 2026.
Short-term impact of the Woodspin transaction is not expected to negatively affect cash flow, but will have a negative net effect on 2025 results.
Focus remains on improving cost efficiency and building an international consortium to scale technology.
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