First quarter: January 1st - March 31st
- Net sales amounted to MSEK 22.8 (15.6), an increase of 46?% compared to the first quarter of 2024.
- EBITDA improved and amounted to MSEK -5.8 (-13.0), while EBITDA adjusted for results from shares in associated companies amounted to MSEK -2.5 (-8.8).
- The operating result/EBIT amounted to MSEK -7.5 (-14.9), whereas operating result adjusted for results from shares in associated companies amounted to MSEK -4.2 (-10.7).
- The result for the period amounted to MSEK -9.0 (-13.6).
- Cash flow for the period amounted to MSEK -5.3 (-20.6).
- The Group's cash and cash equivalents amounted to MSEK 33.8 (69.6).
Significant events during the period:
- Gapwaves contracted Frencken Group as the production partner for high-volume production of waveguide antennas for Valeo. Gapwaves then entered into an agreement with Frencken Group regarding the sale of production equipment for high-volume production.
- Gapwaves received a follow-up order from a North American Tier-1 supplier.
- Gapwaves received additional follow-up orders from Hella.
- During the quarter, there was a change in the executive management where Nils Dagås, VP R&D, replaced Marcus Hasselblad. Marcus Hasselblad remains employed within the group with continued duties as CEO of Sensrad and will continue to contribute to relevant issues within Gapwaves' management.
Significant events after the end of the period:
- Robert Berhof will leave his role as CFO for Gapwaves in July 2025 for a new position outside the company.
- Gapwaves entered into a development agreement with Desay SV, a leading Chinese Automotive Tier-1 supplier.
Gapwaves CEO Jonas Ehinger comments: "2025 has started strong with a revenue increase of 46% to 22.8 MSEK compared to the first quarter of last year. In an uncertain macroeconomic and geopolitical environment, we continue to show strong growth. New development orders from both existing and new Tier-1 customers confirm that the transition to waveguide technology is progressing, driving our growth. Our flexible production model, which enables large-scale series production with the help of certified production partners in various regions, is particularly important in the ongoing regionalization of the world economy. This flexibility is a clear strength and a major competitive advantage. In summary, I am very pleased with the start of a transformative year, which marks a milestone for Gapwaves as we begin our own production in the Automotive segment."
The full report is available as attached PDF and on the company's website https://www.gapwaves.com/investors/financial-reports-and-documents/
Online presentation
Gapwaves CEO Jonas Ehinger will hold a presentation today, April 30th, 10:00 AM, regarding the first quarter, followed by a Q&A session. The presentation and Q&A session will be held in English. To participate, please use this link: https://www.finwire.tv/webcast/gapwaves-2/q1-2025/. A recording of the presentation will be available afterwards on the company's website.
For more information, please visit www.gapwaves.com or contact:
Jonas Ehinger, CEO?Gapwaves?AB?(publ)
Phone number:?+46?733 44 01 52
E-mail:?jonas.ehinger@gapwaves.com
Robert Berhof, CFO?Gapwaves AB (publ)
Phone number: +46 706 00 59 07?
E-mail:?robert.berhof@gapwaves.com?
Gapwaves?Certified Adviser is G&W?Fondkommission?AB?
www.gwkapital.se
About Gapwaves AB (publ)
Gapwaves AB (publ) originates from research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves' vision is to be the most innovative provider of mm-wave antenna systems and the preferred partner to those pioneering next generation wireless technology for a safer and more sustainable society. By leveraging the disruptive Gapwaves technology, we help pioneers in automotive and telecom to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life.
Gapwaves' share (GAPW B) is traded on the Nasdaq First North Growth Market Stockholm with G&W Fondkommission as certified adviser.
This information is information that Gapwaves 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 2025-04-30 07:00 CEST.
