Betolar (BETOLAR) Q4 2025 earnings summary

Executive summary

• Achieved record order intake, including a major EUR 1.4 million Finnish infrastructure order, and advanced commercialization of proprietary metal extraction technology, with first commercial orders and a 99% yield confirmed.

• Expanded presence in mining, industrial sidestreams, and infrastructure, with growing global demand for low-carbon materials and new market openings in India and Finland.

• Strengthened innovation portfolio with 23 active patent families, 49 granted patents, over 60 pending inventions, and eight new patent applications for metal extraction technology.

• Began trading on the OTCQX in the US in January 2026, broadening international investor access.

• Management team expanded with new appointments in growth and circular materials.

Financial highlights

• Net sales for 2025 increased by 24% to EUR 946,000, with Q4 sales at EUR 311,000, and gross margin at EUR 724,000.

• EBITDA improved by EUR 2.3 million to EUR -3.7 million; operating loss was EUR -5.8 million, and profit for the period was EUR -6.1 million.

• Order intake reached a record EUR 2.3 million in 2025, with Q4 order intake at EUR 1.5 million.

• Cash and cash equivalents at year-end were EUR 6.7 million; total liquidity including undrawn grants was EUR 7.7 million.

• Earnings per share for 2025 was EUR -0.28, compared to EUR -0.36 in 2024.

Outlook and guidance

• Net sales for 2026 expected to grow significantly, supported by strong order intake and focus on larger projects.

• Financial target set to achieve positive EBITDA by end of Q4 2027.

• Business targets include scaling metal extraction technology to industrial level and securing commercial agreements.