Ecomembrane (ECMB) H1 2024 earnings summary

Executive summary

• Production revenues rose by €1.5 million (+35.1%) year-over-year, with €0.6 million from organic growth and €0.9 million from acquisitions.

• Value of production reached €6.4 million in 1H2024 (1H2023: €4.9 million).

• EBITDA was negative at €-1.3 million (1H2023: €-0.4 million), and net result was €-2.0 million (1H2023: €-1.0 million).

• Announced sale of rights for a 10 MWp photovoltaic plant for €2.1 million, confirming the strategic focus on photovoltaics.

Financial highlights

• Revenues from sales and services: €5.88 million (+35.1% year-over-year).

• EBITDA margin: -22.9% (1H2023: -9.3%).

• EBIT: €-1.93 million (1H2023: €-0.91 million).

• Net financial position: €3.83 million (cash exceeds financial debt).

• Shareholders’ equity: €12.8 million, down €2.1 million from year-end 2023, mainly due to the period loss and €0.2 million dividend payout.

Outlook and guidance

• Anticipates business volume growth in the coming months, especially in Italy, driven by biomethane projects incentivized by the Biomethane Decree.

• Expects increased contribution from the photovoltaic segment in the second half, leveraging a strong project pipeline.

• Plans to continue hiring, especially in technical and production roles, and maintain R&D investments.