Osmosun (ALWTR) H1 2025 earnings summary

Executive summary

• H1 2025 revenues fell to €616K from €1,505K in H1 2024, with net loss improving to €1,460K from €2,633K and adjusted EBITDA loss narrowing to €1,246K from €2,495K.

• Unibios acquired a 65% stake in July 2025, injecting €2M and merging OSMOSUN with Watera to form a new entity, aiming for global leadership in sustainable water and wastewater treatment.

• New governance and organizational structure implemented, with Orfeas Mavrikios as Chairman and CEO and Maxime Haudebourg as Director.

• Deputy CEO with strong commercial background joined in March 2025 to support business development.

Financial highlights

• H1 2025 revenues: €616K, gross margin improved to €741K (51.3%), net loss reduced to €1,460K, and EBITDA improved to -€1,246K.

• Unibios Group H1 2025: revenues €5.8M, EBITDA €2.3M (35.7% margin), net income €1.4M.

• Watera International 2024 revenue: €14.4M, EBITDA margin 20.8%.

• Cash and cash equivalents at period end: €480K pre-transaction, €2.5M proforma post-transaction.

• Shareholders' equity: negative €0.3M at 30 June 2025, €8.3M proforma post-transaction.

Outlook and guidance

• Strategic focus on expanding in water treatment and reuse markets, targeting organic growth and acquisitions.

• Cost reduction plan of €1.2M for 2025, with FTE reduction from 32 to 18 and significant savings in general expenses.

• Ambition to achieve a normative EBITDA margin of 15% in line with Watera International's standards.

• New manufacturing facility in Volos, Greece, to be operational by end of 2025.

• Integration with Unibios expected to enhance order book development and leverage international expertise.