SaltX Technology (SALT) Q3 2024 earnings summary

Executive summary

• Entering final phase before commercialization, focusing on emission-free lime and cement technology and scaling up industrial applications.

• Strong demand for electrification solutions in emission-intensive industries, with key partnerships and pilot projects advancing.

• Organizational changes include new acting CEO and intensified collaboration with partners and external specialists.

Financial highlights

• Q3 2024 net sales were SEK 0.1 million, down from SEK 2.3 million in Q3 2023; YTD net sales SEK 21.4 million, up from SEK 9.1 million.

• Q3 2024 EBIT was SEK -21.0 million (Q3 2023: SEK -8.6 million); YTD EBIT SEK -38.2 million (YTD 2023: SEK -30.0 million).

• Q3 2024 EPS was SEK -0.12 (Q3 2023: SEK -0.08); YTD EPS SEK -0.23 (YTD 2023: SEK -0.27).

• Cash flow from operating activities in Q3 2024 was SEK -11.2 million (Q3 2023: SEK 14.3 million); YTD SEK -46.8 million (YTD 2023: SEK -3.6 million).

• Equity at quarter-end was SEK 136.2 million, equity ratio 74%.

Outlook and guidance

• Targeting achievement of industrial-scale test objectives with SMA Mineral in Q1 2025, paving way for commercialization.

• Focused on completing final test phase at ECRC facility and preparing for market entry.

• Ongoing evaluation of financing options for international pilot projects, including in India.