FOM Technologies presents new record financials. Continues a sharp focus on the business segment and expects further growth in the US as well as new products in 2024.

18.3.2024 18:48:18 CET | FOM Technologies | Annual report

Company announcement no. 66 – 2024 Copenhagen, the 18th of March 2024

FOM Technologies today publishes record accounts for the financial year 2023, with an increase in revenue and positive EBITDA. With a strongly strengthened capital base, the company expects to continue its focus on the corporate segment, further growth in the USA and the development of our core technology and new products in 2024.

The executive board and the board of directors has approved the 2023 annual report and propose the report for final approval at the company’s general assembly meeting on Tuesday the 2^nd of April 2024.

FINANCIAL REPORT:
Annual Report 2023 [January 1st – December 31st, 2023] has beenaudited by BDO Statsautoriseret Revisionsaktieselskab.

HIGHLIGHTS:

• Revenue:      DKK   78.189.398  (+ 45 %)
• Staff cost:    DKK -21.976.303   (+ 47 %)
• EBITDA:        DKK    3.539.007 (  + 2 %)
• Equity:         DKK   73.146.594  (+ 138 %)

MANAGEMENT REVIEW:

FOM Technologies presents record revenue and positive EBITDA for the financial year 2023. In addition, in Q4 2023 the company has strongly strengthened its capital base after issuing new shares to institutional investors, just as the company is debt-free.

The company enters 2024 with a healthy platform within the company's core technology and considers the year's result to be very satisfactory.

FUTURE OUTLOOK AND GUIDANCE FOR 2024:
After the successful capital raising in Q4 2023, the company expects 2024 to be a strong investment year. The strengthened capital base must be utilized for further investment in the global business segment within our strategic focus areas, expansion of the company's American sales subsidiary, new core technology and new machines and products in 2024. As announced in company announcement no. 65, the company's guidance for 2024 is as follows: 

Total Income:   DKK 65.000.000 to DKK 80.000.000
EBITDA:           DKK -8.000.000 to DKK 2.000.000


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CONTACT INFORMATION | KONTAKT INFORMATION:

Company | Selskab:
FOM Technologies A/S
CEO Michael Stadi
Tlf: [phone]
E-mail: [e-mail]
www.fomtechnologies.com

Certified Advisor | Certified Advisor:
Norden CEF A/S
John Norden
Tlf: [phone]
E-mail: [e-mail]
www.nordencef.dk

Communication | Kommunikation:
Gullev & Co. ApS
Boris Gullev
Tlf: [phone]
E-mail: [e-mail]
www.gullev.co


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Contacts

• Michael Stadi, CEO, [phone], [e-mail]

Attachments

• Download announcement as PDF.pdf
• 240318_FOM_AR2023.pdf

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