Data room
Everything, sourced
Every figure below names where it came from and when it was collected. Where a feed is late or failing, the page says so rather than showing a number as though nothing were wrong.
Reading the register
Data room
Every figure below names where it came from and when it was collected. Where a feed is late or failing, the page says so rather than showing a number as though nothing were wrong.
Reading the register
Four quarters to Q2 2026, weighted by sales: 47.3%. Carried by mix rather than volume.
Computed from the table above
Recycling sales 7.3 to 23 MSEK in 2025
Roughly tripled on 2024, from a small base; the fourth quarter alone exceeded the whole of 2024. The year-end report gives the full-year figure twice - 23.4 MSEK in the review of the year, 23.2 MSEK in the CEO's comment - and we have not resolved which is final.
Palmer Holland live since Jan 2026
US distribution deal; existing agent continues in parallel.
Cash SEK 23M + SEK 25M facility
Bank balances plus an unused overdraft. Equity ratio 80% at the end of Q2 2026, interest-bearing debt SEK 16M.
| MSEK | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | FY 25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net sales | 49.3 | 54.3 | 45.5 | 43.2 | 43.9 | 60.0 | 192.2 | 192.6 |
| Gross margin | 48.0% | 47.0% | 46.0% | 47.0% | 48.0% | 48.0% | - | 47.3% |
| EBITDA | 1.3 | 1.3 | 0.8 | 0.1 | -1.4 | 4.3 | 3.4 | 3.9 |
| EPS (SEK) | -0.05 | -0.03 | -0.05 | -0.06 | -0.08 | 0.03 | -0.19 | - |
| Operating cash flow | 1.9 | -1.2 | 8.2 | 2.5 | -4.9 | -9.3 | 11.3 | -3.6 |
| Cash position | 7.0 | 9.1 | 10.9 | 12.2 | 37.9 | 22.9 | 12.2 | 22.9 |
| USD equivalent (sales) | $4.9M | $5.4M | $4.5M | $4.3M | $4.4M | $6.0M | $19M | $19M |
Source: the company’s own interim reports. Oldest to newest, left to right, with the most recent quarter emphasized - the order is load-bearing, and reversing it would read as a company improving when it is not.
FY 25 is reported, from the year-end report, not the four quarters added up. TTM is the four quarters to Q2 26 added up here: gross margin weighted by sales, cash taken as the closing balance rather than a sum, and earnings per share left out, because the average share count changed from 80.9 to 102.7 million across the period.