DUG Foodtech (DUG) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 increased 675% year-over-year to 853 TSEK, driven by new customers and listings in key European markets.

• EBITDA was -5,022 TSEK and EBIT -4,984 TSEK, reflecting continued investment in scaling operations.

• Result per share improved to -0.03 SEK from -0.09 SEK year-over-year.

• Strategic focus on Sweden, Germany, Spain, Italy, and Poland is yielding positive sales momentum.

• Patent portfolio valued at over 50 MSEK supports innovation and market expansion.

Financial highlights

• Gross margin improved to 38% in Q1 2025 from 37% in Q1 2024.

• Cash flow from operations was -5,557 TSEK, with total cash flow for the quarter at 3,521 TSEK.

• Equity ratio increased to 80% from 70% year-over-year.

• Cash and cash equivalents rose to 7,146 TSEK at quarter-end.

• Average number of employees was 4, down from 5 in Q1 2024.

Outlook and guidance

• Financial target revised: 100 MSEK net sales on a rolling 12-month basis with 15–20% EBIT margin, expected within 12–18 months.

• Previous target of 80 MSEK for 2025 deemed unlikely, but medium-term growth prospects remain strong.