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Third party research

Energy Save: Continued cautious market - ABG

ES Energy Save Holding

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Sales SEK 53m and EBIT SEK -5m (vs. ABGSCe 49m & -4m)
Changed reporting period, now follows calendar year
Sales driven by OEM business and Aira


Q4 results

In conjunction with its report, Energy Save has changed its reporting period to follow the calendar year from the previous split fiscal year. The company reported its Q4 (Oct-December), instead of fiscal Q3'24/25 (Nov-Jan). We have therefore created a blend from the fiscal Q2 and Q3 to be able to compare to the Q4 calendar year.

Energy Save reported Q4 sales of SEK 53m (vs. ABGSCe 49m), +25% y-o-y and up 4% vs. calendar Q3'24, driven to a large extent by Energy Save's OEM business and Aira collaboration. Commercial (SEK 4m) and sales in Scandinavia (SEK 5m) continued to be weak, indicating that sales under the ES brand remains subdued. The gross margin was strong at 44% (vs. ABGSCe 33%) and EBIT came in at SEK -5m (vs. ABGSCe -4m), for a margin of -9% (ABGSCe -9%). Moreover, ES had a positive working capital release of SEK 15m and FCF strengthened to SEK 4.7m (vs. -15m LY). The cash balance came in at SEK 54m (vs. 8m LY).