Sono Group NV Reports Q1 2025: €8.8 Million Net Income as Solar Solutions Drive Initial Revenues

Reuters
2025/05/20
Sono Group NV Reports Q1 2025: €8.8 Million Net Income as Solar Solutions Drive Initial Revenues

Sono Group N.V., the parent company of Sono Motors, reported its financial results for the first quarter ended March 31, 2025. The company recorded a net income of €8.8 million, which was primarily driven by non-cash fair value adjustments to convertible debt instruments. This marks a notable improvement as it reflects the company's financial turnaround and the initial commercialization of its solar solutions. The first revenues were recorded following this financial turnaround, signaling the commencement of the company's solar technology commercialization. Cash used in operating activities decreased significantly to €2.2 million, down from €12.4 million in the first quarter of 2024, indicating more disciplined operating expenses. In terms of business developments, Sono Group commenced its first Bus OEM factory partnership, with initial buses featuring Sono Motors' solar integration solution leaving the assembly line of a European manufacturer. Additionally, the company kicked off a collaboration with Ford Motor Company under the EU-funded SolarMoves project, testing Vehicle Integrated Photovoltaics $(VIPV)$ on a Ford E-Transit. This vehicle is equipped with a 1 kWp solar installation and Sono Motors' High Voltage (HV) Solar Charge Controller, aiming to reduce grid charging demand and enhance energy efficiency. Sono Group is intensifying its strategic focus on OEM collaborations and industrial partnerships, working directly with vehicle manufacturers to integrate its solar technology into production-line vehicles. This shift toward factory-level integration aligns with the company's long-term vision to establish solar technology as a standard feature in commercial mobility. The management remains confident in the growth potential of its B2B solar solutions platform.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sono Group NV published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW1001097773-en) on May 20, 2025, and is solely responsible for the information contained therein.

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