EcoRub (ECO) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly revenue, nearly matching full-year 2022 levels.

• Set new production records for molded gym and horse mats.

• Major new orders and partnerships, including Granngården's largest order (1.3 MSEK) and Kellfri adding stall mats to its range.

• Improved net sales, operating results, cash flow, and reduced losses despite increased depreciation.

• Johan Westin appointed as new CEO; Anders Färnlöf returns as chairman.

Financial highlights

• Net sales for Q1 2025: 3.92 MSEK, up 61% year-over-year.

• Operating income: 4.91 MSEK, up 65% year-over-year.

• EBITDA: -1.01 MSEK (improved by 64%); EBIT: -2.14 MSEK (improved by 41%).

• Net result after financial items: -2.16 MSEK, improved by 41% year-over-year.

• Cash flow from operations improved by 1.79 MSEK to -0.86 MSEK.

Outlook and guidance

• Strong order intake and margin improvements expected to continue.

• New partnerships and expanded product portfolio anticipated to drive further growth.

• Focus on international market expansion and increased customer circularity projects.