Altech Advanced Materials AG Reports Preliminary Half-Year Results

Altech Advanced Materials AG (FRA: AMA) has announced a preliminary half-year loss of around EUR 818 thousand for the first half of the 2024 financial year ending June 30, 2024. This compares to a loss of around EUR 992 thousand during the same period last year.

Sales revenue reached approximately EUR 54 thousand, up from EUR 23 thousand in the comparative period. Other operating income jumped to around EUR 191 thousand, attributed to the reversal of a provision for onerous contracts, driven by the company's share price of EUR 4.88. Personnel expenses increased significantly to around EUR 388 thousand, primarily due to the issuance of virtual options under the AAM virtual option programme 2023.

Other operating expenses stood at around EUR 649 thousand, with notable costs including EUR 291 thousand for the VOP 2023 and EUR 184 thousand for capital market notifications and communication. The preliminary financial result recorded was around EUR -26 thousand.

The company's balance sheet as of June 30, 2024, showed equity of around EUR 7,870 thousand, up from EUR 5,039 thousand at the end of 2023. Despite the losses, the Executive Board maintains its forecast of an annual loss of around EUR 1.6 million to EUR 2.1 million.