Windon Energy Group (WEG) Q3 2025 earnings summary

Executive summary

• Focus during Q3 2025 was on finalizing a strategic platform for scalable growth, strengthening business areas, and building a pipeline for future projects.

• Lower revenue in Q3 2025 compared to Q3 2024, mainly due to the completion of a major solar park project in the prior year.

• Strategic milestones include the first step in a framework agreement with Eljon Group and acquisition of Chargehome Technology Scandinavia AB.

• Business now structured around project development, digital energy storage sales, and product innovation.

Financial highlights

• Q3 2025 net sales: 1,958 TSEK (Q3 2024: 6,898 TSEK); nine months 2025: 15,691 TSEK (2024: 19,331 TSEK).

• Q3 2025 EBITA: -2,131 TSEK (Q3 2024: -581 TSEK); nine months 2025: -5,763 TSEK (2024: -4,435 TSEK).

• Q3 2025 EPS: -0.26 SEK (Q3 2024: -0.13 SEK); nine months 2025: -0.73 SEK (2024: -0.58 SEK).

• Gross margin Q3 2025: 25% (Q3 2024: 35%).

• Cash flow from operations Q3 2025: -3,661 TSEK (Q3 2024: -1,257 TSEK).

Outlook and guidance

• Growing pipeline in solar and battery projects expected to convert to orders in coming quarters.

• Framework agreement with Eljon Group anticipated to have significant impact in 2026.

• Battery segment activity increasing, with expectations of a "battery boom" in 2026.