Circle Energy Sweden (CIRCLE) Q3 2024 earnings summary

Executive summary

• Revenue for Jan–Sep 2024 was SEK 218k, down from SEK 3,572k year-over-year, with Q3 revenue at SEK 0k.

• Operating loss for Jan–Sep 2024 was SEK -20,443k, compared to SEK -7,917k year-over-year.

• Net loss for Jan–Sep 2024 was SEK -20,598k, compared to SEK -9,476k year-over-year.

• Q3 2024 net loss was SEK -3,197k, compared to SEK -2,097k in Q3 2023.

• Company focused on evaluating restart of Amfilochia plant and seeking financing; no new investors secured.

Financial highlights

• Total income Jan–Sep 2024: SEK 218k (2023: SEK 3,572k); Q3 2024: SEK 0k.

• Operating expenses Jan–Sep 2024: SEK -20,663k (2023: SEK -11,489k).

• Net loss Jan–Sep 2024: SEK -20,598k (2023: SEK -9,476k); Q3 2024: SEK -3,197k (2023: SEK -2,097k).

• Cash flow from operations Jan–Sep 2024: SEK -14,388k (2023: SEK -17,267k).

• Cash at period end: SEK 357k (2023: SEK 554k).

Outlook and guidance

• No forecasts or financial targets provided; company states continued dependence on new share issues for ongoing operations.