sur OSMOSUN (EPA:ALWTR)
OSMOSUN Reports 2024 Half-Year Results
OSMOSUN, a leader in solar-powered desalination, released its H1 2024 results, noting a 15% increase in revenues to €1.5 million, driven by contracts in the Caribbean and Africa. However, a €2.5 million adjusted EBITDA loss was reported, affected by lower margins and increased personnel costs following a 32% headcount rise to strengthen sales and technical teams.
OSMOSUN's cash position reduced to €4.2 million amid its investment phase and challenging economic conditions. Governance changes include the appointment of Maxime Haudebourg as CEO, aiming for strategic restructuring and efficiency improvements. The order backlog stands at €1.7 million, with future projects valued at €88 million, yet visibility on implementation remains low.
The company remains optimistic about its unique desalination technology, despite current uncertainties, and expects stable FY 2024 revenues with gradual earnings improvement in H2.
R. H.
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