Maven Wireless publish interim report for first quarter 2025. The interim report is also available at www.mavenwireless.com
Order intake increases by 18% to SEK 55 million during the first quarter
First quarter 1 January - 31 March 2025 (MSEK)
•Net sales amounted to 48.869 (53.741)
•EBITDA 2.659 (10.356)
•Operating profit 0.657 (8.454)
•Order intake 55.410 (46.846)
•Cash flow from current operations -3.998 (27.179)
•Earnings per share after dilution SEK -0.04 (0.12)
•Equity per share SEK 2.22 (2.41)
CEO's statement
The Group's order intake grew by 18% during the period and landed at SEK 55 million, which is the highest order intake for the first quarter ever. The quarter was characterised by some market uncertainty, particularly related to tariffs. We are following developments closely and acting where possible.
At the same time, we are seeing a growing interest from our main market, Europe, where more players are now actively seeking to strengthen their supply chains by collaborating with European manufacturers, rather than relying on supply from the US and Asia. This is a positive trend for us, as we are the only complete DAS supplier in Europe, which gives us a strategic advantage and increased stability in our home market.
To drive growth in the coming quarters, it is important for us to secure business with new customers and grow into new markets. We achieve this through both our own organization out in the regions and with both new and existing partners. At the same time, it is important that we demonstrate our Nimbus platform to grow in the cellular market and increase sales to more telecom operators.
The launch of our Nimbus platform for 5G indoor coverage is progressing. An updated version of the product is now being manufactured in the factory, with the goal of continuing field tests with customers later this spring.
Net sales for the period amounted to SEK 49 million. Which was affected of lower deliveries in the first half of the quarter, but the pace of deliveries increased towards the end of the period. Our production continues to show good cost control, with a gross profit margin of 44%.
EBITDA was slightly positive during the period with a margin of 5%, which was impacted by lower sales and higher personnel costs compared to the same period last year as a result of continued expansion efforts.
Cash flow from operating activities amounted to SEK -4 million, mainly due to limited invoicing during the first half of the quarter and slightly increased operating expenses. To strengthen liquidity during the second quarter, we are factoring and extending credit periods on certain production invoices from 60 to 90 days.
We have continued to increase our presence in Azerbaijan, where we have already previously delivered products for indoor coverage in Flaming Towers, among others. We have now received an initial order amounted to circa SEK 1 M, for units that will be installed in the Baku metro - a first step in replacing an outdated system in this metro
In the US market, we are seeing a shift in how indoor projects are run. Telecom operators are showing an increasing interest in owning this part of the business themselves, rather than letting so-called Neutral Host players take full responsibility. This may mean some delay in design and roll out. At the same time, we have completed the development of a new repeater for 700/800 MHz Public Safety, which is now entering the certification phase and with planned sales in the US starting in the second quarter.
In summary, we continue to have a positive view of the business development. Order intake is increasing, we are entering new markets, and our global presence is strengthened. We look forward to a strong 2025 with continued growth and establishment of our solutions worldwide.
Fredrik Ekström - group CEO
Kista, April 25, 2025
Significant events during the first quarter
Maven Wireless wins order for hospital coverage worth circa SEK 15 Million
Maven Wireless partner MIC Nordic, which specialises in the integration of coverage solutions in buildings, has secured another project for coverage in hospitals. Maven Wireless' unique DAS (Distributed Antenna System) products will be used which can distribute both blue light radio and mobile telephony in the same system which is important for this vertical. Deliveries and invoicing start in March and continue until quarter 3.
Maven Wireless Signs Extension with Telenor Worth Approximately SEK 100 Million
Maven Wireless has signed an extended global framework agreement with Telenor Procurement Company (TPC) for the delivery of equipment and software supporting radio coverage across all mobile technologies, including new 5G product variants. The updated agreement has been extended by an additional three years, with deliveries scheduled through December 31, 2027.
Maven Wireless granted a first patent in Brazil
Including the new granted patent, Maven Wireless possesses 75 patents worldwide and has additionally 4 patent applications pending. The new patent in Brazil covers key elements on how the Distributed Antenna System (DAS) equipment automatically configure itself depending on external environment as well as how to make the DAS redundant and resilient. This patent supports and protects Maven Wireless' business and expansion on the American continent.
Maven Wireless has received an order through Tomek GmbH within an existing framework agreement with the Austrian Transport Administration ÖBB worth just over SEK 10 Million
This order includes blue light radio for police and fire brigades, GSM-Rail and VHF radio for connection of all critical communication systems used in the Austrian rail tunnels.
Maven Wireless Secures SEK 200 Million Agreement with train manufacurer for train onboard repeaters
Maven Wireless is pleased to announce the signing of a framework agreement with a train manufacturing facility in the UK to supply radio coverage equipment and related software for trains. The initial contract term is set for 10 years
Significant events after the period
No significant events after the period
For more information, please contact:
Fredrik Ekström, CEO
+46-8-760 43 00
www.mavenwireless.com
About Maven Wireless
Maven Wireless provides groundbreaking solutions in wireless coverage all over the world.
We offer end-to-end digital solutions with outstanding performance. Our products contribute to public safety by ensuring wireless coverage for critical services, and are used in tunnels, on trains, metros, stadiums, buildings and more. We are passionate about making society and our customers' and end users lives better, easier and safer by securing 100% wireless coverage. Maven Wireless is listed on Nasdaq First North Growth Market with the shortname MAVEN. FNCA Sweden AB is appointed as Certified Adviser.
For additional information, please visit: www.mavenwireless.com
This information is information that Maven Wireless Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-04-25 08:00 CEST.
