Biofrigas (BIOF) Q1 2025 earnings summary

Executive summary

• Net sales reached KSEK 256 in Q1 2025, reflecting the first customer unit delivery; prior year was zero.

• Result after financial items was KSEK -2,559, down from KSEK -1,771 year-over-year, as focus remained on production, capital raising, and market development.

• Key milestone: first facility completed and approved by DEKRA, enabling finalization and customer delivery.

• Strengthened sales resources and secured new financing post-period, including a SEK 1.5M loan and a SEK 10.1M rights issue.

• US patent granted in April, with expectations for approvals in Europe and China.

Financial highlights

• Net sales: KSEK 256 (0), with additional operating income of KSEK 882, including KSEK 652 from unused options.

• Result after financial items: KSEK -2,559 (-1,771 year-over-year).

• Earnings per share: SEK -0.05 (-0.13 year-over-year).

• Cash flow for the quarter: KSEK -5,426 (-2,630 year-over-year), mainly due to material costs for the first customer unit.

• No changes in share count during the quarter; 55,934,239 shares outstanding at period end.

Outlook and guidance

• Reference facility at customer site expected to drive interest and enable study visits.

• Organization to be further strengthened, especially in technical roles, to support anticipated growth.

• Rights issue and credit facility to support ongoing expansion and commercialization.