Swedish energy technology company Climeon reported sales of SEK 0.4 million for the second quarter and said order intake for the period was zero. The results underline limited near-term commercial traction in booked orders even as certain operational and market developments moved forward.
On an adjusted basis, the firm narrowed its loss per share to SEK 0.36 in the quarter, compared with an adjusted loss per share of SEK 0.52 in the same quarter a year earlier. Despite that improvement, Climeon recorded an operating loss of SEK 21.80 million for the quarter, and cash flow from operating activities was negative SEK 10.70 million.
During the period the company completed a SEK 23 million share issue. Climeon also delivered its first HeatPower 300 system in China to Jiangsu New Yangzi Shipbuilding, marking a recorded equipment shipment in the region.
Management commentary pointed to a bifurcated sales landscape. The company said industrial sales opportunities in Europe have reached a record high level, and CEO Lena Sundquist noted a growing number of ongoing customer discussions in Europe specifically for industrial waste heat recovery applications. These conversations indicate heightened commercial interest from European industrial customers in Climeon’s waste heat recovery technology.
By contrast, the marine segment saw fewer new customer enquiries during the quarter. Climeon attributed this reduction in part to global uncertainty and shipping disruptions, including the temporary closure of the Strait of Hormuz. The company expects that customer enquiries in the marine segment will recover in the second half of 2026.
Climeon said market conditions for its technology remain favorable as energy costs continue to rise, a factor it views as supportive for demand for waste heat recovery and related systems. The company’s quarter thus combined ongoing commercial interest in certain end markets with constrained near-term order intake and continued negative operating cash flow.
Context and next steps
- Climeon has tightened its adjusted loss per share compared with the prior-year quarter, while continuing to report an operating loss and negative operating cash flow.
- The company completed a SEK 23 million share issue and logged a first HeatPower 300 delivery in China to Jiangsu New Yangzi Shipbuilding during the quarter.
- Management reported record-high industrial sales opportunities in Europe and a weaker marine pipeline, with an expected marine enquiry recovery in H2 2026.