Aquaporin A/S, Nymøllevej 78, DK-2800 Kongens Lyngby, aquaporin.com, Company registration no.: DK28315694
Company announcement
No. 30/2023
“We maintained strong momentum in the third quarter of 2023 with a 164% revenue growth compared to the same period last year. We are seeing significant repeat orders, are expanding geographically, and are looking forward to continuing this year’s growth trajectory in 2024,” says
“The third quarter numbers demonstrate a continuous year-on-year growth and continued cost discipline. Overall, a strong quarterly result in line with Management’s expectations,” says
Financial highlights as of
- In Q3 2023, revenue amounted to
DKK 11.1 million , growing 164% year-on-year (DKK 4.2 million for the same period in 2022), primarily driven by an increase in sales in Drinking Water. -
EBIT (before special items) improved to a loss of
DKK 25.1 million in Q3 2023 (a loss ofDKK 27.3 million for the same period in 2022). - Year-to-date, the gross profit margin is >30%.
-
As of
September 30, 2023 , cash and cash equivalents wereDKK 22.7 million . -
The Company maintains the financial outlook for the full year 2023: Revenue of
DKK 50-70 million ; gross profit of >30%; EBIT (before special items) a loss ofDKK 105-95 million ; CAPEX ofDKK 10-15 million . -
The orderbook for the remainder of 2023 aligns with the midpoint communicated revenue guidance, however with a risk that logistical issues could impact the timing of revenue recognition between
December 2023 and into 2024. -
The Company expects strong growth in revenue to approximately
DKK 100 million . At this point, the Company has visibility on more thanDKK 50 million of the revenue guidance for 2024. The Company expects to keep operating costs roughly in line with 2023. - As previously communicated, the Company is continuously in dialogue with potential investors and is exploring options to raise capital in the first half of 2024.
Commercial highlights Q3 2023
- Partnered with national Singaporean water agency, PUB, to develop the world’s first large-scale low-energy reverse osmosis biomimetic membrane demonstration.
-
Launched space project with
ESA andNASA , going into space with Danish astronaut,Andreas Mogensen , to test Aquaporin’s Forward Osmosis technology. - Demonstrated the energy efficiency of Aquaporin Inside® CLEAR membranes by achieving up to 60% energy consumption reduction in a water recycling application.
- Secured milestone collaboration with Aqualia to promote Aquaporin’s biomimetic membrane elements at municipal water treatment plants.
-
Entered into agreements with Philips Water Solutions for
China ,E. & J. Gallo Winery forthe United States , Andersen & Nielsen forDenmark , and EARTHY inIndia .
Commentary Q3 2023
Throughout this year, we have seen a significant number of repeat orders as well as a geographical expansion. We are advancing product development with key partners in the juice and dairy industries and are working on developing our core technology.
As of
Our Aquaporin Inside® technology is currently orbiting Earth to test our unique technology on the
For further information, please contact:
+45 53 55 55 19, investorrelations@aquaporin.com
About
Forward-looking statements
Matters discussed in this company announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and that can be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “estimate”, “will”, “may”, “continue”, “should”, and similar expressions, as well as other statements regarding future events or prospects. Specifically, this company announcement includes information with respect to projections, estimates, and targets that also constitute forward-looking statements. The forward-looking statements in this company announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, and other important factors include, among others: Limited experience in commercialization of the Company’s products, failure to successfully implement strategies, dependence on third parties for manufacturing certain product components and the supply of certain raw materials, manufacturing disruptions, strategic collaboration, protection of the Company’s intellectual property rights and other risks disclosed in Aquaporin’s annual reports and company announcements. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations, projections, estimates, and targets expressed or implied in this company announcement by such forward-looking statements. The information, opinions, and forward-looking statements contained in this company announcement speak only as at its date and are subject to change without notice.
Attachments
- Download announcement as PDF.pdf
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