Triona (TRIONA) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was 64.4 MSEK, down 6.7 MSEK year-over-year, mainly due to lower hardware and service sales, while recurring revenue increased by 6% to 22.7 MSEK.

• EBITA was -4.3 MSEK, a decrease of 7.6 MSEK compared to Q1 2024, with all countries reporting negative profitability; EBIT was -6.6 MSEK.

• Strategic transformation (FOCUS28) underway, with investments in management, sales, marketing, and a new ERP system impacting costs.

• Order intake exceeded the previous year, supported by a major contract with Statens Vegvesen.

Financial highlights

• Revenue: 64.4 MSEK (Q1 2024: 71.1 MSEK); recurring revenue: 22.7 MSEK (Q1 2024: 21.4 MSEK).

• EBITA: -4.3 MSEK (Q1 2024: 3.3 MSEK); EBIT: -6.6 MSEK (Q1 2024: 1.0 MSEK).

• Cash flow from operations: 7.2 MSEK (Q1 2024: 10.1 MSEK).

• Net result after financial items: -6.7 MSEK (Q1 2024: 1.2 MSEK).

• Liquidity at quarter-end: 31.2 MSEK; equity: 59.2 MSEK; equity ratio: 42.5%.

Outlook and guidance

• 2025 is a transition year with continued investments in transformation and expected positive effects from FOCUS28 in the second half.

• Sales and marketing initiatives are expected to drive growth, with a strong order book and new partner sales focus.