Climeon (CLIME) Q4 2024 earnings summary

Executive summary

• Achieved a breakthrough in the marine market with a key order from NovaAlgoma Cement Carriers and successful deliveries to A.P. Møller-Maersk container ships under construction in South Korea.

• Expanded presence in China, the world's largest shipbuilding market, and delivered HeatPower 300 systems for both new builds and retrofits.

• Strengthened financial position through a SEK 50 million directed share issue and appointed a new Chairman of the Board.

Financial highlights

• Q4 net sales rose to SEK 9.7 million (1.2), mainly from HeatPower 300 deliveries; full-year net sales reached SEK 42.6 million (6.2).

• Q4 operating loss was SEK -27.8 million (-25.1); full-year operating loss SEK -102.3 million (-102.6).

• Q4 profit/loss after financial items was SEK -26.7 million (-36.0); full-year SEK -103.7 million (-135.7).

• Cash and cash equivalents at year-end were SEK 26.3 million (77.5), with total including restricted funds at SEK 32.4 million.

• Earnings per share for Q4 were SEK -0.08 (-0.10); full-year SEK -0.40 (-0.52).

Outlook and guidance

• Cost-saving measures implemented in 2024 are expected to have full effect in 2025, improving cash flow and profitability as business volumes grow.

• Strong market trends in sustainable energy and stricter emission regulations are expected to drive further demand for HeatPower 300.