Aquaporin Reports 2024 Results and Plans for Future Growth
Aquaporin A/S 2024 Results and Insights
Company Announcement
Aquaporin A/S has officially released its Annual Report for the previous year, covering the extensive developments within the company and its future forecasts. As a frontrunner in innovative water technology, Aquaporin is dedicated to redefining water filtration through biotechnology.
CEO Insights on Recent Developments
"Despite the guidance adjustments earlier, we consider 2024 a transformative year for Aquaporin, where we actively progressed our goal of commercializing advanced biotechnology for water purification solutions. Throughout the year, we focused on enhancing product development, optimizing operational efficiency, and expanding collaborations that will sustain long-term success," stated Matt Boczkowski, the Chief Executive Officer of Aquaporin A/S.
Further elaborating on financial achievements, Klaus Juhl Wulff, the Chief Financial Officer, highlighted that while revenue for 2024 saw a drop of 32% influenced by fluctuating demand and project delays, rigorous cost management resulted in enhanced EBIT, paving the way toward achieving profitability.
Key Highlights of 2024
Business Achievements
- Strategically partnered with Brenntag in APAC sectors such as Turkey and China, reinforcing Aquaporin’s commitment to delivering robust wastewater treatment solutions.
- Revealed initial lab results for Aquaporin Inside Generation 2, showcasing promising advancements in membrane technology ahead of thorough pilot testing.
- Unveiled the Brackish Water Reverse Osmosis CLEAR Series aimed at boosting energy efficiency across industries, municipalities, and businesses.
- Secured significant contracts for Brackish Water membrane orders, highlighting a milestone agreement worth USD 300,000 for a municipal drinking water project in Central Asia.
- Repeated orders of Forward Osmosis Essence-GO systems, underscoring strong customer loyalty.
- Collaborated with Vestel to launch the water purifier Rafine PRO in Turkey, which promises high-quality, effective reduction in water contamination.
- Successfully completed a Rights Issue garnering DKK 172 million in gross proceeds.
Financial Overview
Financial Highlights
- Total revenue contracted by 32% in 2024, amounting to DKK 40.6 million, in contrast to DKK 59.5 million recorded in 2023, primarily due to unexpected demand shifts from the major key account in Drinking Water.
- In a positive turn, Industrial Water revenue surged by 192% to DKK 10.5 million, while Drinking Water experienced a 55% decline to DKK 18 million.
- The Forward Osmosis Market Development sector witnessed a 27% decrease to DKK 12 million.
- Gross profit margin stood at 31%, slightly down from 32% in 2023.
- Operating costs decreased significantly, amounting to DKK 95.6 million, with a reduction of DKK 17.3 million attributed to organizational restructuring and stringent cost management strategies.
- EBIT prior to special items showcased a loss of DKK (83) million, an improvement compared to a loss of DKK (90) million from the preceding year.
- As of December 31, 2024, cash and cash equivalents reached DKK 77.3 million, a substantial increase from DKK 2.8 million at the end of the prior year.
Future Forecast for 2025
The company anticipates 2025 revenue to range between DKK 60-80 million and projects an EBITDA loss of DKK (45)-(55) million. Insights into the Annual Report are to be referenced for additional details.
Upcoming Earnings Webcast
On March 20, 2025, at 11:00 AM CET, Aquaporin's top executives will conduct an earnings webcast. Details on how to access this event can be found on Aquaporin's official website.
About Aquaporin A/S
Aquaporin A/S stands at the frontier of water technology, operating not only in its headquarters in Denmark but also in complementary markets spanning Singapore, Turkey, the United States, and China. The company is committed to tackling global water issues by actively innovating water filtration processes using biotechnology. Merging the fields of biology, chemistry, and physics, Aquaporin has developed the unique Aquaporin Inside technology, recognized internationally. This cutting-edge technology, derived from Nobel Prize-winning research, is used to purify water across various sectors, including essential services provided by NASA.
Frequently Asked Questions
What were Aquaporin's main financial results for 2024?
Aquaporin's total revenue decreased by 32% to DKK 40.6 million, with a notable increase in Industrial Water revenue by 192%.
What challenges did Aquaporin face in 2024?
The company encountered unexpected changes in demand from key accounts and project delays, impacting overall revenue.
What is Aquaporin's future revenue forecast for 2025?
The company expects revenue to fall between DKK 60-80 million for the full year 2025.
When is the earnings webcast scheduled?
The earnings webcast will be held on March 20, 2025, at 11:00 AM CET.
Where is Aquaporin A/S headquartered?
Aquaporin A/S is headquartered in Denmark and has additional operations in several other countries.
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