Clean Motion (CLEMO) Q1 2025 earnings summary

Executive summary

• Sales operations launched in Spain, expanding presence beyond Sweden.

• Major logistics companies (Airmee, CityMail, La Poste) initiated or continued EVIG vehicle tests in key European cities.

• Zbee vehicle ready for launch in India, targeting both domestic and export markets.

• Component supply delays impacted production ramp-up; gradual increase to 20 vehicles/month targeted by end of 2025.

• Strategic review underway to optimize capital structure; no rights issue planned.

Financial highlights

• Net sales for Q1 2025 were 61 TSEK, up from 38 TSEK year-over-year.

• Operating result before depreciation was -4,436 TSEK (Q1 2024: -2,949 TSEK).

• Net result after tax was -5,471 TSEK (Q1 2024: -3,999 TSEK).

• Cash and cash equivalents at March 31, 2025, totaled 448 TSEK.

• EU GIANTS project contributed 2.7 MSEK in February; STOLT battery swap project added 0.5 MSEK in April.

Outlook and guidance

• Gradual production ramp-up to 20 vehicles/month expected by end of 2025, aligned with order intake.

• Anticipated participation in La Poste's procurement process, with potential for large orders in late 2026.

• No rights issue planned; strategic alternatives for capital structure under review.