Biofrigas (BIOF) Q3 2025 earnings summary

Executive summary

• Achieved a major milestone by delivering and installing the first biogas liquefaction plant to a customer, marking the transition from development to sales.

• Focus during the quarter was on finalizing and verifying the first customer unit and ramping up market activities.

• Leadership transition with Erik Fromell appointed as CEO from September 1, 2025.

Financial highlights

• Net sales for Q3 2025 were KSEK 19, down from KSEK 832 in Q3 2024; nine-month sales were KSEK 275, down from KSEK 3,840.

• Result after financial items for Q3 was KSEK -2,527 (Q3 2024: -2,132); for nine months, KSEK -8,427 (2024: -6,991).

• Earnings per share for Q3 was -0.03 SEK (Q3 2024: -0.06); for nine months, -0.10 SEK (2024: -0.19).

• Cash flow for Q3 was KSEK -2,568 (Q3 2024: -4,428); for nine months, KSEK -6,136 (2024: -2,881).

• Equity ratio at September 30, 2025, was 74.5% (68.7% at September 30, 2024).

Outlook and guidance

• With the first plant in operation, focus shifts to scaling up sales activities and securing new contracts for expansion and growth.

• The company aims to strengthen its market position in small-scale biogas liquefaction solutions.