Clean Motion (CLEMO) Q4 2024 earnings summary

Executive summary

• 2024 marked by turbulence: production relocation, type approval, acquisition activities, and management changes.

• Organization strengthened with key hires in marketing, development, and production.

• General downturn in the automotive industry and climate policy uncertainty led to supplier bankruptcies and delivery delays.

• Delayed sales caused liquidity deterioration, placing the company in a challenging financial position.

• Multiple pilot projects with scalable customers underway, including Airmee and Citymail for the EVIG vehicle.

Financial highlights

• Net sales for the year were 1,091 TSEK, down from 7,583 TSEK year-over-year.

• Operating result before depreciation was -16,285 TSEK, compared to -3,008 TSEK last year.

• Result after financial items was -21,083 TSEK, compared to -6,895 TSEK year-over-year.

• Cash at period end was 3,182 TSEK.

• Share capital at year-end: 60,008,620 SEK, with 120,017,240 shares outstanding.

Outlook and guidance

• Company needs both financial and operational strengthening to realize business opportunities.

• Board and management are working on several parallel alternatives to address the financial situation.