Second Quarter Report 2025

April – June 2025 Serstech Group

• Net sales amounted to KSEK 4 563 (21 369).
• EBITDA amounted to KSEK - 8 875 (5 595).
• EBIT amounted to KSEK -10 992 (3 715).
• Cash flow from operating activities amounted to KSEK -11 631 (-1 112).
• Earnings per share amounted to SEK -0.04(0.02).
• Earnings per average number of shares amounted to SEK -0.04 (0.02).

January – June 2025 Serstech Group

• Net sales amounted to KSEK 24 455 (35 543).
• EBITDA amounted to KSEK – 8 204 (6 963).
• EBIT amounted to KSEK -12 329 (3 194).
• Cash flow from operating activities amounted to KSEK -14 772 (515).
• Earnings per share amounted to SEK -0.05 (0.01).
• Earnings per average number of shares amounted to SEK -0.05 (0.01).

Message from the CEO

The second quarter of 2025 showed lower sales, amounting to approximately 4.5 MSEK (21.4 MSEK). The lower sales in Q2 are in line with the broader market, as several companies in our sector have reported a slow quarter, largely due to geopolitical uncertainty and delayed procurement processes — particularly in the US, where several planned purchases have been put on hold. We have also seen limited customer participation at key US industry exhibitions, reflecting a cautious market sentiment.

Despite the short-term challenges, we have continued to execute on our strategic plan. Our expanded sales team is now largely in place, with the final addition for this year starting in September. Compared to the beginning of the year, we have doubled the size of the sales team, which now consists of six dedicated sales professionals. This expanded capacity is a critical enabler for our growth ambitions, and we are already seeing positive effects in terms of opportunity pipeline development.

In parallel, we have made strong progress on cost efficiency. Our transition to in-house production is proceeding according to plan, with pilot production starting in late summer and volume production expected to begin in Q4. All systems, suppliers, and processes are in place. This shift will reduce our cost of goods sold (COGS) significantly — well timed given the intensified price pressure we now see in the market. We have recently lost a few minor tenders on price, which reinforces the importance of our ongoing cost reduction initiatives.

Having a production site in-house, in addition to the third-party one, will increase production capacity and resilience, and strengthen the collaboration between R&D and production. We have already made several improvements to both the product design and production process to improve quality and yield, while reducing COGS significantly.

Our opportunity pipeline for the second half of the year remains strong. With the new sales team in place, we expect pipeline growth to accelerate further. Until now, our limited sales capacity has been the main bottleneck, requiring me to focus almost exclusively on field sales and international travel to support customer engagements.

We successfully closed our Romanian office during the quarter and completed key recruitments in Lund. Consolidating the team under one roof will not only reduce overall costs but also improve collaboration, efficiency, and innovation. We are already seeing the benefits, with several new patent applications scheduled to be filed in the near term.

With a stronger team, a more competitive cost structure, and a growing market need, we are well positioned for a strong second half of the year.

Stefan Sandor, CEO

April 2025

For further information, please contact:

Stefan Sandor,

CEO, Serstech AB Phone: 

Email: 

or

Thomas Pileby,

Chairman of the Board, Serstech AB Phone: 

Email: 

or visit: 

This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:45 CET on July 16, 2025.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).

About Serstech

Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and design, development and production are done in Sweden.

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at

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