Africa Resources (AFRI) Q4 2025 earnings summary

Executive summary

• Small-scale diamond production in DRC continued in Q4 2025, with 1,231 carats extracted and sold for 796 TSEK (65 USD/carat).

• Strategic shift underway with planned acquisition of an iron and copper project in Sweden and expansion into diamond trading.

• Board proposes a fully guaranteed rights issue of approximately 8.1 MSEK and a directed share issue to finance acquisitions and strengthen the balance sheet.

• Company is in a transition phase, focusing on financial stability and diversification.

Financial highlights

• Q4 2025 revenue was 796 TSEK, down from 1,016 TSEK in Q4 2024.

• Net loss after tax for Q4 2025 was -239 TSEK, improved from -451 TSEK in Q4 2024.

• Full-year 2025 net loss was -1,803 TSEK, compared to -1,003 TSEK in 2024.

• Cash and cash equivalents at year-end were 4 TSEK, down from 62 TSEK a year earlier.

• Total assets at year-end were 10,300 TSEK, compared to 11,327 TSEK at the end of 2024.

Outlook and guidance

• Planned rights issue and directed share issue aim to secure funding for acquisitions and operational expansion.

• If approved, debt conversion will significantly strengthen the balance sheet and enable growth in both Africa and Sweden.

• Focus remains on cost control, operational stability, and building a diversified, cash-generating business.