Orege (OREGE) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 rose 14% year-over-year to €1,043K, with services contributing €213K, up from €57K in H1 2023.

• Operational focus shifted toward service-based models, especially in biogas and mobile sludge management.

• Commercial successes in Italy and the US, with contracts totaling €1.5M, including €674K recognized in H1 2024.

Financial highlights

• Net loss for H1 2024 was €4,359K, compared to €4,572K in H1 2023.

• Operating expenses increased 5% year-over-year, mainly due to higher depreciation from expanded mobile unit fleet.

• Financial result included €1,216K in debt costs and €608K net foreign exchange gain.

• Cash position at June 30, 2024 was €289K, down from €627K at December 31, 2023.

Outlook and guidance

• New €4M shareholder advance post-June 2024, plus €463K unused prior advance, expected to cover funding needs through September 2025.

• Pilot projects in biogas and biomethane underway in the US and Europe, with results expected in 2025.