Nexam Chemical (NEXAM) Q2 2025 earnings summary

Executive summary

• Achieved over 50% quarter-over-quarter sales growth in Recycling, now exceeding 10% of total sales and offsetting weak Lightweight demand.

• Net sales reached 54.3 mSEK in Q2 2025, up from 53.6 mSEK in Q2 2024, with gross margin improving to 47%.

• Largest recycling customer secured; record number of trials and new customer evaluations underway.

• Collaboration with Kullaplast in packaging film attracted significant international interest.

• Broader customer base and stronger market presence entering H2 2025.

Financial highlights

• Q2 2025 net sales: 54.3 mSEK (vs 53.6 mSEK Q2 2024); gross margin: 47% (vs 46%).

• EBITDA for Q2: 1.3 mSEK (vs 2.6 mSEK Q2 2024); cash flow from operations: -1.2 mSEK.

• Operating loss before tax for Q2 2025: SEK -3.29M (Q2 2024: SEK -1.29M).

• Cash and bank balance at quarter end: 9.1 mSEK; remaining credit facility: 13.1 mSEK.

• Recycling sales in Q2: 5.8 mSEK, another 50%+ QoQ growth, with new major customers ramping up.

Outlook and guidance

• Strong outlook for H2 with continued growth in Recycling and stable base business.

• Q3 expected to be seasonally weaker due to customer shutdowns, but underlying demand in growth segments remains healthy.

• Expanding activities in Central and Eastern Europe, hiring additional business developer in Poland.

• Contribution margin expected to remain stable; organization can double volume without major investment.

• Company enters H2 2025 with scalable offering and robust pipeline of new business opportunities.