Otovo’s first quarter results for 2025 are released today. Here are the highlights:
- Return to sales growth: Order intake of NOK 154M in quarter and unit sales up 34% from Q4 2024.
- Portfolio sales closed: Portfolio sale closed freeing up cash of NOK 150 million, gross margin from leasing (B2B2C) of 32% in quarter.
- Cost structure reset: Cost improvements evident in marketing (down 39%) and personnel cost (down 41%). Strong efficiency gains and confidence in ability to improve cost further.
- Consumer outlook improving: Shorter payback times on solar and batteries, while resilience and backup demand likely to get boosted in quarters ahead.
Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 May 6th.