Osmosun (ALWTR) H2 2025 earnings summary

Executive summary

• Operating earnings improved significantly in H2 2025 due to cost streamlining, efficiency gains, and project completions.

• Merger with Watera International and new equity from Unibios strengthened financial structure.

• Governance enhanced with new CEO and independent directors, aligning with Unibios standards.

Financial highlights

• 2025 revenues were €1.8M, slightly down from €1.9M in 2024, driven by large contracts in the Caribbean, Africa, and tourism projects.

• EBITDA loss reduced to €2.0M from €5.3M in 2024, reflecting procurement savings and cost reductions.

• Net loss narrowed to €2.2M from €6.3M in 2024, including €0.2M in dividends from Watera International.

• Equity rose to €7.6M at year-end 2025, up from €1.2M, following capital increases.

• Cash and cash equivalents at €1.0M, with gross borrowings also at €1.0M.

Outlook and guidance

• Contracts signed to date represent €1.1M in revenue to be recognized mainly in 2026.

• Full impact of cost reduction plan expected in 2026, with €1.2M in savings versus 2024.

• Continued profitability improvement anticipated, supported by streamlined costs and higher-margin focus.