Charbone (CH) Q2 2025 earnings summary

Executive summary

• Construction of the Sorel-Tracy facility commenced, with key utilities connected and civil works underway, targeting production start in fall 2025.

• Strategic partnerships and disciplined financial management are positioning the company for growth in green hydrogen and industrial gases.

• Management is focused on structuring deals to preserve cash and accelerate execution.

Financial highlights

• Net loss for Q2 2025 decreased by 39% to $444,542 compared to $729,425 in Q2 2024.

• First revenue recognized from the Malaysian green hydrogen project in Q2 2025.

• Hydroelectricity income rose to $100,506 in Q2 2025 from $5,067 in Q2 2024.

• Operating loss before financial items was $697,894 in Q2 2025, down from $810,205 in Q2 2024.

• Cash at period end was $11,785, down from $142,611 at the end of the prior year period.

Outlook and guidance

• Production at the Sorel-Tracy facility is on track to begin in fall 2025.

• New offtake agreement with a US Tier One industrial gases producer is expected to generate immediate and diversified revenues.