Firefly (FIRE) Q1 2025 earnings summary

Executive summary

• Revenue increased by 4% to 123.4 MSEK compared to the same quarter last year, with operating income up 7% to 18.1 MSEK.

• Order intake for comparable units rose 4%, but total order backlog declined 17% year-over-year.

• Aftermarket business grew over 15%, now representing 29% of total sales, supporting business stability.

• Firefly established a wholly owned US subsidiary to strengthen North American aftermarket services.

• The company maintains a diversified customer base across regions and sectors, reducing dependency risks.

Financial highlights

• Net sales: 123.4 MSEK (up 4% year-over-year); operating profit: 18.1 MSEK (up 7%).

• Earnings per share: 2.23 SEK (up 2% year-over-year).

• Cash flow from operations: 11.0 MSEK (up 19% year-over-year); cash at period end: 76.0 MSEK (up 20%).

• Equity: 188.2 MSEK (up 16% year-over-year); equity per share: 31.36 SEK.

• Operating margin: 14.7% (prior year: 14.3%).

Outlook and guidance

• Customer activity increased late in the quarter, but overall market uncertainty remains high.

• US tariff changes expected to have limited direct impact, but may delay customer investment decisions.

• Focus remains on converting a strong pipeline of offers into orders and expanding aftermarket share.