Company announcement
No. 06/2024
"At
Business highlights
- Signed an exclusive supply agreement with AquaShield, the global brand partner of Philips Water Solutions for supply of membrane to all Philips-branded purifiers in
China , with a doubling of sales compared to 2022. -
Signed a global Joint Development Agreement with
E. & J. Gallo Winery to create sustainable solutions, utilizing the unique Aquaporin Inside® concentration methods to concentrate wine and/or grape juice. - Launched the A2O Series, with the A2O Pure under-the-sink water purifier and the 5-in-1 A2O Bar, and entered into a distribution agreement for Scandinavia with renowned Danish kitchen reseller Andersen & Nielsen.
-
Signed distribution agreement with EARTHY to expand water purification business in
India . - Partnered with national Singaporean water agency, PUB, to develop a large-scale low-energy reverse osmosis biomimetic membrane demonstration.
- Demonstrated the energy efficiency of Aquaporin Inside® CLEAR membranes by achieving up to 30% energy consumption reduction in a water recycling application for certain customers.
-
Secured milestone collaboration with Aqualia to promote
Aquaporin's biomimetic membrane elements at municipal water treatment plants. -
Went into space with
ESA , NASA, and Danish astronaut,Andreas Mogensen , to testAquaporin's Forward Osmosis technology.
Financial highlights
- Total revenue increased 95% to
DKK 59.5 million vs.DKK 30.6 million in 2022. Revenue growth was driven by commercial traction in all core business areas, with a 72% increase in Residential Drinking Water, a 261% increase in Industrial Reverse Osmosis, and a 145% increase inForward Osmosis Market Development . -
EBITDA (before special items) was a loss of
DKK (76.1) million vs. a loss ofDKK (89.9) million in 2022 -
EBIT (before special items) was a loss of
DKK (93.6) million vs. a loss ofDKK (108.4) million in 2022 -
Cash and cash equivalents as of
December 31, 2023 amounted toDKK 2.8 million
Subsequent events
- In
February 2024 ,Aquaporin A/S announced that Founder and Chief Innovation Officer,Peter Holme Jensen , stepped down from his position on Executive Management and is proposed as member of the Board of Directors at upcoming Annual General Meeting. Torsten HøybyeBak Regueira was appointed Chief Technology Officer, taking over fromPeter Holme Jensen , ensuring that strong R&D competences continue to be embedded across the Company's management structure. -
In
February 2024 ,Aquaporin A/S provided an update on the contemplated Rights Issue expected to be launched later today onApril 5, 2024 .
Guidance 2024
For the full year 2024, we expect revenue in the range of
Webcast
On
For further information, please contact:
+45 25 63 39 90, investorrelations@aquaporin.com
About
Forward-looking statements
Matters discussed in this company announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and that can be identified by words such as "believe", "expect", "anticipate", "intend", "estimate", "will", "may", "continue", "should", and similar expressions, as well as other statements regarding future events or prospects. Specifically, this company announcement includes information with respect to projections, estimates, and targets that also constitute forward-looking statements. The forward-looking statements in this company announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, and other important factors include, among others: Limited experience in commercialization of the Company's products, failure to successfully implement strategies, dependence on third parties for manufacturing certain product components and the supply of certain raw materials, manufacturing disruptions, strategic collaboration, protection of the Company's intellectual property rights and other risks disclosed in
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