SolTech Energy (SOLT) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 446.2 MSEK, down 13% organically year-over-year, mainly due to weak market conditions and seasonal effects.

• EBITDA was -10.4 MSEK and EBITA -26.3 MSEK, with EBITA margin at -5.9%.

• Result after tax was -47.8 MSEK, and cash flow from operations was -75.6 MSEK.

• Cost-saving and efficiency measures improved underlying profitability despite lower activity.

• Major projects included the commissioning of Mallorca's largest floating solar plant and battery installations in Sweden.

Financial highlights

• Net sales: 446.2 MSEK (513.1 MSEK Q1 2024), organic growth -13%.

• EBITDA: -10.4 MSEK (-0.5 MSEK Q1 2024); EBITA: -26.3 MSEK (-15.1 MSEK Q1 2024).

• EBITA excluding revaluations: -31.6 MSEK (-51.8 MSEK Q1 2024).

• Result per share: -0.36 SEK (-0.24 SEK Q1 2024).

• Cash flow from operations: -75.6 MSEK (40.0 MSEK Q1 2024); period cash flow: -111.7 MSEK (45.4 MSEK Q1 2024).

Outlook and guidance

• Long-term demand for solar energy and storage remains strong, with positive effects expected as the construction market recovers.

• Ongoing organizational adjustments and efficiency improvements are expected to yield full effect from Q2 2025 onward.

• The company maintains its 2028 financial target: 8 BSEK in revenue and 10% EBITA margin.