Climeon (CLIME) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 5.2 million, down from SEK 13.3 million year-over-year, mainly from HeatPower 300 deliveries and aftermarket income.

• Operating loss widened to SEK -40.0 million (from SEK -23.7 million), including a SEK -14.0 million one-off inventory write-down for HeatPower 150 components.

• Order intake was SEK 0.0 million (SEK 0.4 million), with an order backlog of SEK 13.4 million (SEK 18.5 million).

• Cost-saving measures initiated in 2024 began to show effect, with further savings from office relocation expected in 2025-2026.

• All resolutions from the December 2024 EGM, including a reverse stock split and new options program, have been implemented.

Financial highlights

• Net sales: SEK 5.2 million (Q1 2024: SEK 13.3 million).

• Operating profit: SEK -40.0 million (Q1 2024: SEK -23.7 million), including SEK -14.0 million inventory write-down.

• Profit/loss after financial items: SEK -43.3 million (Q1 2024: SEK -21.6 million).

• Earnings per share: SEK -1.22 (Q1 2024: SEK -1.00).

• Cash and cash equivalents: SEK 12.2 million (Q1 2024: SEK 26.3 million); total liquidity including restricted funds: SEK 14.9 million.

Outlook and guidance

• New global maritime CO2 regulations and a planned global CO2 tax (from 2027) are expected to drive demand for energy-efficient technology.

• Climeon expects cost-saving measures to have full effect from 2025 onwards.

• The company is monitoring geopolitical developments but does not foresee direct or indirect impacts at this time.

• External financing will be needed within twelve months to continue operations.