SaltX Technology (SALT) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 increased to MSEK 18.5 from MSEK 16.9 year-over-year; full-year sales rose to MSEK 39.9 from MSEK 26.0.

• EBIT loss improved to MSEK -16.0 in Q4 2024 from MSEK -17.1; full-year EBIT loss widened to MSEK -54.2 from MSEK -47.1, including a SEK 24.4m loan converted to a grant.

• Cash flow from operating activities improved to MSEK -7.9 in Q4 2024 from MSEK -33.3; full-year cash flow was MSEK -58.6 versus MSEK -36.9.

• Earnings per share before and after dilution were SEK -0.09 for Q4 2024 (SEK -0.10) and SEK -0.32 for the year (SEK -0.37).

• Significant breakthrough achieved at the Hofors plant for electrified, emission-free quicklime production, paving the way for commercialization.

Financial highlights

• Q4 2024 net sales: TSEK 18,482 (Q4 2023: 16,862); full-year: TSEK 39,897 (2023: 25,973).

• Q4 2024 EBIT: TSEK -15,968 (Q4 2023: -17,111); full-year: TSEK -54,166 (2023: -47,076).

• Q4 2024 cash flow from operations: TSEK -7,935 (Q4 2023: -33,305); full-year: TSEK -58,643 (2023: -36,889).

• Equity at year-end: TSEK 119,898 (2023: 139,005); equity ratio 71% (2023: 69%).

• Group cash equivalents at year-end: TSEK 21,925 (2023: 26,217).

Outlook and guidance

• Focus on commercialization in lime, cement, and direct air capture of CO2, leveraging patented electrification and carbon capture technology.

• 2025 expected to be a crucial year with organizational strengthening and new recruitments, including a new CFO.

• Ongoing and planned collaborations with major industrial partners to scale technology and commercial offerings.