Charbone (CH) Q4 2024 earnings summary

Executive summary

• Achieved a 15% year-over-year revenue increase in 2024, reaching $325,753, driven by the Wolf River acquisition.

• All permits secured for the Sorel-Tracy facility, with production on track for 2025 as Hydro-Québec completes interconnection.

• Strategic focus on green hydrogen production and distribution, with disciplined financial management and partnerships.

Financial highlights

• Revenue rose 15% to $325,753 in 2024 from $282,724 in 2023.

• Net loss improved to $(2,837,693) in 2024 from $(3,192,512) in 2023.

• General and administrative expenses decreased 16% to $2,474,516.

• Operating loss before financial expenses was $(2,644,991), compared to $(3,036,000) in 2023.

• Cash at year-end increased to $452,739 from $55,123 in the prior year.

Outlook and guidance

• Sorel-Tracy facility expected to commence green hydrogen production in 2025.

• Ongoing discussions with strategic partners to support growth and financial execution.