Clean Motion (CLEMO) Q3 2024 earnings summary

Executive summary

• Revenue for Jan–Sep 2024 was 612 TSEK, down from 3,107 TSEK year-over-year; no sales were reported in Q3 due to long customer lead times and focus on scalable business.

• Operating loss widened to -7,188 TSEK for Jan–Sep 2024 from -4,309 TSEK year-over-year; EBITDA was -7,371 TSEK.

• Major focus on product development, market exposure, and securing new business leads, especially for the EVIG model.

• Component delivery delays and supplier bankruptcies impacted production, pushing targeted output of 20 vehicles/month to Q1 2025.

Financial highlights

• Net loss for Jan–Sep 2024 was -10,927 TSEK, compared to -6,293 TSEK year-over-year.

• Cash and cash equivalents at 30 Sep 2024 were 173 TSEK.

• Equity at period end was 38,801 TSEK, with a solidity ratio of 66%.

• Result per share was -0.15 SEK for Jan–Sep 2024, compared to -0.10 SEK year-over-year.

Outlook and guidance

• Production ramp-up to 20 vehicles/month expected in Q1 2025 after resolving supply chain issues.

• Strong market interest in EVIG, with expectations for significant sales growth in 2025.

• Anticipates building order backlog in Q4 2024 following intensified marketing efforts.