Crown Energy (CRWN) Q4 2025 earnings summary

Executive summary

• Full-year net loss after tax was SEK -130.8 million, a significant deterioration from SEK -29.4 million in 2024, driven by negative property revaluations and higher operating expenses.

• Revenues for 2025 were SEK 37.4 million, down 4% year-over-year, mainly due to currency depreciation and lower sales in sustainable investments.

• Major strategic steps included a 30-year concession for the Neo project in Angola, management changes, and a new commercialization partnership for AccYou Rate.

• AccYou Rate secured a US patent for sensorized garment technology and entered a strategic partnership for commercial rollout.

Financial highlights

• Q4 2025 turnover was SEK 8.9 million (Q4 2024: SEK 10.0 million); full-year turnover SEK 37.4 million (2024: SEK 39.2 million).

• Operating profit for 2025 was SEK -142.2 million (2024: SEK -27.7 million); Q4 operating profit SEK -50.3 million (Q4 2024: SEK 21.4 million).

• Unrealised changes in property values were SEK -19.9 million (2024: SEK 60.1 million).

• Net financial items improved to SEK -4.5 million (2024: SEK -10.0 million), mainly due to positive FX effects.

• Earnings per share for 2025 were SEK -0.25 (2024: SEK -0.05); equity per share SEK 0.43 (2024: SEK 1.02).

Outlook and guidance

• Construction of the Neo project in Angola is planned to begin in 2026, with initial revenues expected in 2028 and full operational capacity by 2029.

• AccYou Rate is positioned for large-scale market deployment following new strategic partnerships.

• The Board assesses sufficient liquidity for the next 12 months, supported by ongoing asset sales and flexible payment terms for acquisitions.