Photocat Reports Significant Developments in H1 2024 Financials
Photocat Releases Half Year Report for 2024
Photocat has unveiled its half-yearly report for 2024, showcasing significant developments and challenges faced by the company during the period.
Financial Highlights
The report illustrates several key financial metrics:
- Photocat continues to generate positive EBITDA during H1 2024.
- Revenue has decreased by 21.3% compared to H1 2023.
- Intellectual Property Rights (IPR) case settled positively in the Bitumen market with C. Hasse & Sohn.
- Promotion for Photocat Garden has been paused due to changes in the distribution channel.
- The company reaffirmed its guidance for 2024, expecting a turnover between 17.5-19.0 million DKK, alongside a positive EBITDA range of 0-1 million DKK.
Significant Developments Post H1 2024
In addition to financial performance, Photocat has made substantial progress in various projects:
- Together with partners Laborat and the Generalitat de Catalunya, Photocat concluded the second data set of the world’s largest photocatalytic in-situ project, covering 105,000 square meters, indicating very promising effects.
- Initiated an entry pilot project for the M30 highway around Madrid, which has a full-scale potential of 1.5 million square meters.
Financial Metrics Overview
Here is a detailed summary of the financial metrics reported by Photocat:
- Revenue: H1 2024 revenue stood at 6,826,000 DKK, compared to 8,668,000 DKK in H1 2023 and 15,041,000 DKK for FY 2023.
- Gross Profit: Gross profit for H1 2024 was 3,438,000 DKK, down from 3,728,000 DKK in H1 2023 and 6,327,000 DKK for FY 2023.
- EBITDA: The earnings before interest, taxes, depreciation, and amortization (EBITDA) for H1 2024 was reported at 694,000 DKK, while it was 808,000 DKK in H1 2023 and 348,000 DKK for FY 2023.
- P/L Before Tax: Reporting a loss before tax of -572,000 DKK in H1 2024, compared to -548,000 DKK in H1 2023 and -2,326,000 DKK for FY 2023.
- Net Profit: The net profit for H1 2024 was -388,000 DKK, compared to -349,000 DKK in H1 2023 and -1,920,000 DKK for FY 2023.
- Assets: Assets totaled 22,242,000 DKK in H1 2024, a decrease from 25,101,000 DKK in H1 2023.
- Equity: Total equity stood at 12,717,000 DKK, down from 13,817,000 DKK in H1 2023.
- Debt: Total debt was reported at 9,525,000 DKK.
- Cash at Hand: Cash reserves dropped to 222,000 DKK from 443,000 DKK in H1 2023.
Conclusion
The half-year report from Photocat indicates a complex financial landscape. Despite a reduction in revenue, the company remains committed to its strategic objectives and is actively pursuing key projects aimed at significant advancements in the field of photocatalytic technology. Stakeholders are encouraged to monitor future developments closely.
Company Contact Information
For further inquiries, Michael Humle, CEO of Photocat A/S can be contacted at:
Phone: +45 2210 2523
E-mail: michael@photocat.net
Frequently Asked Questions
What is the primary focus of Photocat's technology?
Photocat focuses on manufacturing patented coating materials that degrade NOx and VOCs when exposed to light.
How did Photocat fare in terms of EBITDA for H1 2024?
Photocat reported a positive EBITDA of 694,000 DKK during the first half of 2024.
What were the main findings from the photocatalytic project?
The recent project indicated very promising effects after completing the second dataset of the world’s largest photocatalytic in-situ project.
What is the company’s outlook for 2024?
Photocat maintains its guidance for a turnover between 17.5-19.0 million DKK in 2024.
How can one access more information about Photocat?
More information can be gathered through the company’s website and by contacting their CEO directly.
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