Betolar Plc
Company Release
25 April 2025 at 8:55 A.M. EEST
Betolar Plc's Business Review for 1 January–31 March 2025 (unaudited)
CORRECTION:
Betolar corrects the company release of the Business Review published today at 8.30 A.M. The release was missing an attachment. A PDF file has been attached to this correction. The same applies to the Finnish version.
This is a summary of the Q1 Business Review, which is in its entirety attached to this release and can be downloaded from the company’s website at www.betolar.com/reports-and-presentations
January – March 2025 in brief
This business review is not an interim report under the IAS 34 standard. The company complies with the half-yearly reporting requirements of the Securities Markets Act and publishes business reviews for the first three and nine months of the year, which present key information and key figures on the company’s strategy and business development. The figures presented in this business review are unaudited. The figures in brackets refer to the corresponding period in the previous year, unless otherwise stated.
In the mining and metals industry, Betolar expanded its business from shotcrete solution to cementless rockfill. The first cementless rockfill development project was launched, and customer acquisition was expanded to Canada and Australia. The low-carbon shotcrete development project with Outokumpu progressed well. The most significant achievement was the development of a fully cementless shotcrete, which entered the pilot phase.
During the period, Betolar has advanced its sidestream business and strengthened the international sourcing and logistics capabilities. Betolar continued to sell ground granulated blast furnace slag in the Indian market through the local subsidiary and focused on commercial customer projects.
Betolar developed its AI-based SidePrime service for material owners further and launched new industrial sidestream projects, including a collaboration with Alva-yhtiöt. An AI-assisted research project explored the potential of ash from energy production as a substitute for cement in construction and mining solutions.
In concrete solutions for construction, Betolar and Consolis Group's Finnish subsidiary Parma Oy have signed a three-year license and supply agreement, to manufacture the world's lowest-emission hollow core slabs in Finland using Betolar's Geoprime® solution. Betolar’s technology achieves 75 % lower emissions compared to traditional solutions. The agreement also includes a pre-emption and exclusive right for other Consolis Group companies operating in 17 different countries
On the innovation front, a breakthrough was achieved in metal separation technology and green cement production. Betolar has developed a new technology that enables the efficient recovery of valuable metals from industrial sidestreams. In the same process, green cement is also produced, offering a more environmentally friendly circular economy alternative to conventional cement.
I want to thank our customers, stakeholders, partners and staff for their valuable contribution and support. Together, we have made significant progress, particularly in the development of metal separation technology and green cement. With these innovations, we have laid a strong foundation for a sustainable future.
Key indicators for the Group
| (EUR thousand, unless otherwise specified) | 1–3 2025 |
1–3 2024 |
1–12 2024 |
| Financial indicators | |||
| Net sales | 164 | 68 | 762 |
| EBITDA1 | -1,007 | -1,959 | -5,818 |
| Cash and cash equivalents and short-term fund investments (at the end of the period)1 | 10,253 | 11,665 | 8,987 |
| Liquidity and undrawn grants (at the end of the period)1 | 12,408 | 17,801 | 14,159 |
| Operational indicators | |||
| Order intake (EUR thousand)1 | 90 | 369 | 1,003 |
| Number of new NRE projects1 | 1 | 2 | 11 |
| Personnel (average number during the financial period) | 34 | 52 | 46 |
Financial reporting
Betolar will publish the following financial reports in 2025:
Betolar is organizing a Capital Markets Day in Helsinki on 14 May 2025, more information is available on www.betolar.com/capital-markets-day
Betolar's financial reports are available on the company's website at www.betolar.com/reports-and-presentations
Betolar will host a live webcast in English for investors and media on 25 April 2025 at 10.00 Finnish time.
You can follow the broadcast at https://betolar.events.inderes.com/q1-2025
In the English presentation, CEO & President Tuija Kalpala and CFO Mikko Wirkkala will present Betolar's Business Review and other topical issues. A recording of the event and the corresponding presentation will be available on Betolar's investor website later in the day at https://www.betolar.com/reports-and-presentations
Betolar Plc
Tuija Kalpala, CEO & President, Betolar Plc, tuija.kalpala@betolar.com, +358 50 567 6608
Mikko Wirkkala, CFO, Betolar Plc, mikko.wirkkala@betolar.com, +358 50 458 4190
Certified Adviser:
Aktia Alexander Corporate Finance Oy, +358 50 520 4098
About Betolar
Betolar is a circular economy enabler and materials technology specialist, providing innovative solutions to help use industrial sidestreams to produce low-carbon and cement-free products for the mining and construction sectors. Betolar's mission is to help reduce carbon emissions and the use of virgin resources in mining and construction.
Betolar's circular economic innovations significantly reduce CO2 emissions from cement use and the use of virgin raw materials by utilizing industrial sidestreams. Betolar is continuously developing its low-carbon Geoprime solution for the mining, metals and construction industries. In addition, Betolar's AI-based data platform creates value from industrial side streams and accelerates solution development. The SidePrime analytics service, based on the data platform, maps the potential for utilization of industrial side streams and waste.
Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information www.betolar.com.