Solteq (SOLTEQ) Q1 2025 earnings summary

Executive summary

• Revenue declined 10.7% year-over-year to EUR 12.1 million, but profitability improved for the fifth consecutive quarter, with a positive comparable operating result of EUR 0.1 million (up EUR 0.4 million year-over-year).

• Efficiency and cost-saving measures drove margin improvements despite cautious customer demand and postponed investments.

• The Retail & Commerce segment saw a 6.9% drop in comparable revenue but a 109% increase in comparable operating result; Utilities revenue fell 8.2% but losses narrowed.

Financial highlights

• Comparable EBITDA rose to EUR 0.5 million (EUR 0.3 million), with a margin of 4.5% (2.1%).

• Operating result improved to EUR 0.2 million from EUR -0.2 million; net result for the period was EUR -0.5 million (EUR -0.7 million).

• Earnings per share improved to EUR -0.02 from EUR -0.04 year-over-year.

• Net cash flow from operating activities was flat at EUR 0.0 million (EUR 1.0 million prior year).

• Equity ratio stood at 30.7% (30.2%).

Outlook and guidance

• Comparable revenue is expected to decrease slightly, but comparable operating result will improve significantly in 2025.

• Retail & Commerce outlook remains moderate; Utilities outlook is stable with growth opportunities in the Nordic region.