Kentima (KENH) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw a 30% year-over-year increase in net sales to 18,108 KSEK, with record gross profit and EBITDA for a single quarter.

• Sales of Proprietary Products rose 57% to 8,214 KSEK, driven by strong performance in Automation and Security segments.

• Gross profit reached 9,084 KSEK (+34% YoY), and EBITDA was 2,784 KSEK (+176% YoY), both all-time highs for a quarter.

• EBIT improved to 1,698 KSEK from -157 KSEK, and pre-tax profit was 1,369 KSEK compared to -544 KSEK last year.

• Management expects continued strong growth in 2025, supported by product launches and export initiatives.

Financial highlights

• Net sales: 18,108 KSEK (13,950 KSEK Q1 2024), +30% YoY.

• Gross profit: 9,084 KSEK (6,772 KSEK), +34% YoY; gross margin 50% (49%).

• EBITDA: 2,784 KSEK (1,009 KSEK), +176% YoY; EBIT: 1,698 KSEK (-157 KSEK).

• Cash flow from operations: -1,027 KSEK (409 KSEK); total cash flow: -391 KSEK.

• Cash and equivalents at period end: 2,249 KSEK (3,106 KSEK), including unused credit of 2,127 KSEK.

Outlook and guidance

• Management anticipates significant growth in group sales and Proprietary Products for 2025.

• Exports and a major order (10.8 MSEK) are expected to drive results throughout the year.

• Launch of WideQuick HMI/SCADA 14.0 in Q2 2025 and new BMS concept in autumn 2025 to support future growth.