Press release
Voisins Le Bretonneux, 11th
___________________________________________________________________
Summary financial information for the six months ended 30 June 2021
(consolidated accounts approved by the Board of directors on 8 October 2021).
The auditors are completing their limited review procedures.
In K€ - IFRS | H1 2021 ( | H1 2020 ( | Year 2020 ( |
Turnover | 790 | 491 | 2 006 |
Operating expenses (net) | |||
Payroll expenses | -1 841 | -1 904 | -3 334 |
Other operating expenses | -1 527 | -1 689 | -3 277 |
Depreciation and amortisation | -140 | -307 | -1 255 |
Total operating expenses (net) | -3 508 | -3 900 | -7 866 |
Operating result | -2 718 | -3 409 | -5 860 |
Financial result | -49 | -648 | -1 563 |
Corporation tax | 0 | 0 | 0 |
Net loss | -2 767 | -4 059 | -7 423 |
Turnover
Turnover for the first half year 2021 was 790 K€ compared to 491 K€ for the first half year 2020.
Operating expenses
The reduction in operating expenses results from the ongoing efforts to rationalise the organisation and to control costs launched in spring 2020 with the start of the health crisis.
Financial result
The financial result is made up of the interest cost on debt of 593 K€ (372 K€ for H1 2020) and foreign exchange gains on GBP and USD operational debtor balances of 544 K€ (foreign exchange losses on GBP and USD operational debtor balances of 276 K€ for S1 2020).
Financing and cash
At
At
In
Activity and outlook
- Following successful trials in
March 2021 and 4 months of hire at the Harpenden wastewater
treatment plant,
The adoption of
An important benefit of the
- From summer, several
Water Utilities in theUnited Kingdom , just likeThames Water did initially, have sought to rentOrege solutions short term for a few months.
This will allow them to immediately benefit from improvements in the carbon and environmental footprint, as well as the corresponding financial savings, pending the mobilization of the necessary financial resources, often not yet budgeted for capital purchase of
To date, 6
These 6 rented solutions are expected to result in future capital purchases (fixed or mobile units), but this pragmatic approach has the effect of delaying the expected related sales by some months (we estimate 3 to 12 months). The corresponding capital sales could represent 1,700 K € to 2,700 K € of future turnover in total.
The recent sale of a first unit to
• In its 22nd
- the reopening of borders, in particular with
- a resumption of near to normal operations with our customers and prospects.
It is clear that this is not fully the case at present.
In particular, 4 projects (US,
As of today, certain constraints for access to the sites concerned and / or the reopening of borders (
• In view of the above,
• Many projects are currently under discussion with
• Commercial activity should also be able to resume in 2022 in
• The partnership with Alfa Laval is now being discussed again with the management of this Group in light of the collaboration since the summer of 2020 which has been handicapped by the constraints linked to the pandemic. The first commercial benefits materialized during the summer of 2021.
The partnership should therefore be strengthened, in particular to take advantage of the recent more sustained resumption of activity in the wastewater and sludge treatment sector.
• The notable acceleration of requests for project qualification and bid negotiations in the US and the
Other information:
The half year report will be published in French on the Company’s website (www.orege.com) 13th
Contact
George.gonsalves@orege.com - mob: +33 6 08 03 50 72
Attachment
- CP Half year results 2021 VUKDEF
© OMX, source