Byhmgard (SPIFF) Q2 2026 earnings summary

Executive summary

• Achieved significant operational progress in Q2 2026, focusing on converting deals into production, expanding the project portfolio, and securing financing for ongoing and future projects.

• Net sales rose to SEK 31.0 million in Q2 2026 from SEK 9.3 million in Q2 2025, driven by deliveries under major BESS contracts.

• Entered a Right of First Refusal agreement with Solarigo Systems Oy for BESS projects, including a 50 MW pilot in Finland.

• Signed a Memorandum of Understanding with CMEC to jointly build a 1 GW European battery portfolio.

• Order backlog at SEK 76 million, with a clear strategy to realize a 1 GW pipeline by 2027.

Financial highlights

• Q2 2026 net sales: SEK 31,029 thousand (Q2 2025: SEK 9,346 thousand); H1 2026 net sales: SEK 47,909 thousand (H1 2025: SEK 13,112 thousand).

• Q2 2026 operating loss: SEK -925 thousand (Q2 2025: SEK -1,523 thousand); H1 2026 operating loss: SEK -4,460 thousand (H1 2025: SEK -4,418 thousand).

• Q2 2026 net loss after tax: SEK -965 thousand (Q2 2025: SEK -1,674 thousand); H1 2026 net loss after tax: SEK -4,577 thousand (H1 2025: SEK -4,691 thousand).

• Cash and cash equivalents at period end: SEK 18,450 thousand (Q2 2025: SEK 7 thousand).

• Equity ratio improved to 52% (Q2 2025: 6%), reflecting debt-to-equity conversions.

Outlook and guidance

• Maintains ambition to realize a 1 GW project pipeline by 2027.

• Focus remains on delivering current projects, expanding customer relationships, and increasing self-owned BESS assets.

• Capital raise of SEK 36 million proposed post-period to support continued growth.