BIO-UV Group (ALTUV) Q2 2024 TU earnings summary

Executive summary

• H1 2024 revenue reached €22.1 million, down 8% year-over-year but up 16% sequentially from H2 2023.

• Land division showed resilience, with stable revenue year-over-year and strong export momentum.

• Maritime division revenue declined 28% year-over-year due to the end of the retrofit market, but profitability was maintained through aftermarket services.

Financial highlights

• Land activities revenue was €17.5 million in H1 2024, nearly flat year-over-year and up 41% from H2 2023.

• Maritime activities revenue was €4.6 million, down 28% year-over-year.

• Export sales grew 15%, driven by UV and Ozone solutions in the Middle East and Asia.

• Industrial and municipal activity in France grew 30% in H1 2024, with strong wastewater reuse sales.

Outlook and guidance

• Order backlog at June 2024 was €9.5 million, up 40% from March 2024 and 7% year-over-year.

• H2 2024 is expected to show growth over H2 2023, with continued international expansion and REUSE activities.

• Anticipates acceleration in maritime activities and increased contribution from services and aftermarket.