Absolicon (ABSL) Q3 2024 earnings summary

Executive summary

• Net sales increased to 903 KSEK in Q3 2024, with improved operating results and reduced losses year-over-year.

• Major milestones include ISO 9001/14001 certification, a test installation at EPFL, and progress in two large EU projects.

• Ongoing cost reductions and increased consulting revenues support financial stability.

• A rights issue of approximately 19 MSEK is planned to fund further development and market expansion.

Financial highlights

• Net sales for Q3 2024 were 903 KSEK, up from 834 KSEK in Q3 2023.

• Operating income (EBIT) improved to -4,720 KSEK from -9,752 KSEK year-over-year.

• Net loss for the quarter was -4,071 KSEK, compared to -9,801 KSEK in Q3 2023.

• Cash flow from operations was -4,193 KSEK, an improvement from -7,523 KSEK last year.

• Earnings per share for Q3 2024 were -0.70 SEK, up from -2.57 SEK in Q3 2023.

Outlook and guidance

• Management expects to deliver one or more production lines in 2025.

• The rights issue is expected to secure funding for continued development and expansion.

• EU regulatory changes and rising biofuel prices are expected to drive demand for solar thermal solutions.