Gigasun (GIGA) Q1 2026 earnings summary

Executive summary

• Installed solar PV capacity grew to 403.7 MW, up 19% year-over-year, with 9.4 MW added in Q1 2026.

• Electricity production rose 7.2% to 59.0 million kWh, reducing CO2 emissions by 29,000 tons.

• Revenue declined 20.8% year-over-year to SEK 36.6 million, mainly due to lower tariffs, weaker solar radiation, and currency effects.

• Operating profit was SEK -9.2 million (down from SEK 3.3 million), and net loss widened to SEK -27.5 million.

• Ongoing refinancing and positive operating cash flow strengthen the foundation for 2026.

Financial highlights

• Revenues: SEK 36.6 million (down from SEK 46.3 million year-over-year).

• Net sales: SEK 31.9 million; other operating income: SEK 4.7 million.

• Operating expenses: SEK 45.8 million, up 6.5% year-over-year.

• Operating profit (EBIT): SEK -9.2 million; EBITDA: SEK 13.9 million.

• Net loss after tax: SEK -27.5 million; EPS: SEK -0.48.

• Total cash flow: SEK -37.6 million; cash and bank at period end: SEK 8 million.

• Equity: SEK 489 million; equity ratio: 22%.

Outlook and guidance

• No further changes to electricity tariffs expected in the near term.

• Focus for 2026 is on completing refinancing and strengthening capital structure.

• Management expects continued growth in installed capacity and positive operating cash flow.