LumenRadio (LUMEN) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached 56.0 MSEK, up 21.3% year-over-year, marking a record 12-month rolling revenue of 254.5 MSEK.

• EBIT for the quarter was 2.1 MSEK, up from 1.1 MSEK in Q1 2024; EBITDA was 5.8 MSEK, with a margin of 10.4%.

• Cash flow was -17.1 MSEK, mainly due to tax payments; cash at period end was 101.0 MSEK.

• Strong growth in Lighting & Smart Cities (L&SC) offset by a challenging quarter in Building & Infrastructure Control Systems (BICS).

Financial highlights

• Net sales: 56.0 MSEK (46.1 MSEK Q1 2024), +21.3% year-over-year.

• EBIT: 2.1 MSEK (1.1 MSEK Q1 2024); EBITDA: 5.8 MSEK (4.7 MSEK Q1 2024), margin 10.4% (10.3%).

• Earnings per share after dilution: 0.00 SEK (0.15 SEK Q1 2024).

• Cash flow: -17.1 MSEK (-5.4 MSEK Q1 2024); cash and equivalents: 101.0 MSEK (78.9 MSEK Q1 2024).

• Gross margin: 63.1% (61.5% Q1 2024).

Outlook and guidance

• Expect continued strong performance in L≻ BICS metering segment to remain weak in Q2 with recovery anticipated in H2 2025.

• Ongoing investments in sales and marketing to drive brand awareness and lead generation.

• Long-term targets: >25% annual organic growth and >20% EBITDA margin over a business cycle.