Absolicon (ABSL) Q4 2024 earnings summary

Executive summary

• Q4 2024 saw net sales rise to 1,245 KSEK from 630 KSEK year-over-year, driven by increased consulting, service, and rights sales.

• Operating loss improved to -5,353 KSEK from -55,482 KSEK, reflecting cost reductions and completed pilot projects.

• A rights issue raised 10.2 MSEK, and options exercise added 0.8 MSEK, supporting ongoing operations.

• Key installations included a pioneering solar thermal plant at Chelal Tea Factory in Kenya and progress with Coca-Cola in India.

• Staff reduced to 17 from 36 year-over-year, contributing to lower personnel costs.

Financial highlights

• Net sales for Q4 2024: 1,245 KSEK (630 KSEK Q4 2023); full year: 5,289 KSEK (2,451 KSEK 2023).

• EBIT for Q4: -5,353 KSEK (-55,482 KSEK); full year: -16,727 KSEK (-106,176 KSEK).

• Net result for Q4: -10,305 KSEK (-55,578 KSEK); EPS: -1.28 SEK (-9.72 SEK).

• Operating cash flow Q4: -4,333 KSEK (-14,183 KSEK); liquidity at period end: 13,508 KSEK.

• Equity ratio at 82.25% (77.64% Q4 2023); equity: 55,464 KSEK.

Outlook and guidance

• No dividend proposed for 2024; focus remains on cost control and expanding consulting and EU project revenues.

• Ongoing efforts to reduce turnkey solar plant costs by 10% and pursue new market opportunities in CCS and industrial decarbonization.

• Continued development of partnerships and expansion into new geographies, including Africa, India, and Australia.