Windon Energy Group (WEG) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 amounted to 4,535 TSEK, slightly down from 4,615 TSEK in Q1 2024.

• EBITA improved to -2,218 TSEK from -2,359 TSEK year-over-year; EBITA margin at -49% versus -51%.

• Result per share was -0.26 SEK, compared to -0.24 SEK in the same quarter last year.

• Strategic focus shifted toward larger, institutional projects and a strengthened project pipeline exceeding 100 MSEK.

• Delayed revenue recognition from a major order will positively impact Q2 results.

Financial highlights

• EBIT for Q1 2025 was -3,207 TSEK, an improvement from -3,408 TSEK in Q1 2024.

• Cash flow from operating activities was -1,767 TSEK, up from -6,066 TSEK year-over-year.

• Equity ratio at quarter-end was 78%, down from 94% a year earlier.

• Equity per share was 3.33 SEK at March 31, 2025, compared to 4.17 SEK at March 31, 2024.

• Liquidity at period end was 1,633 TSEK, compared to 4,103 TSEK at the end of Q1 2024.

Outlook and guidance

• Project pipeline of over 100 MSEK expected to convert to orders during 2025.

• Cost adjustments to yield annual savings of nearly 1 MSEK, with full effect in Q1 2026.

• Focus remains on institutional and project-based business, with early signs of positive results from this strategy.

• Commercialization of the RidgeBlade rooftop wind turbine is targeted, pending successful ongoing tests.