Metacon reports SEK 34.5 million Q3 revenue as electrolyser project costs weigh

Swedish hydrogen-system supplier Metacon published its third-quarter summary on November 4, 2026. Revenue for July–September was SEK 34.5 million, versus SEK 40.9 million a year earlier. EBITDA was negative SEK 25.2 million, compared with negative SEK 15.5 million. The reporting currency is Swedish kronor.

For January–September, revenue increased to SEK 173.0 million from SEK 147.7 million. The nine-month EBITDA loss widened to SEK 54.6 million from SEK 35.7 million. Lower quarterly sales and higher cumulative sales therefore describe different reporting periods rather than contradictory results.

Management said work continued on electrolyser projects but costs, particularly on one large project, were substantially above plan. The chief executive attributed part of the pressure to meeting a customer’s funding deadline and considered the causes non-recurring. That remains management’s assessment rather than proof that similar overruns cannot recur.

The summary also recalls the August plan to cut fixed costs by approximately 35% from January 2027 and September announcements of pressurised alkaline stacks and a compact 20 MW module. Those are earlier developments, not November launches. The new information concerns financial and execution performance, without new component-level awards.