sur OSMOSUN (EPA:ALWTR)
OSMOSUN's Strategic Shift Amid Revenue Decline and Cash Constraints
OSMOSUN has revised its 2024 forecast due to a deferral of revenue recognition from projects in Mauritania and Saint Kitts. The company now expects revenues to be €2.6 million, down from a target of €3 million. EBITDA loss is projected at €5 million, a significant increase from last year's -€1.9 million. The order backlog shrank to €0.7 million, reflecting a lack of new major projects in 2024.
Cash reserves have dwindled to €1.6 million, and the cash horizon extends to September 2025. The company is exploring alternative financing and new contract signings to improve liquidity. OSMOSUN is finalizing a revised strategic roadmap, focusing on standard, modular desalination solutions to reduce dependence on large projects and shorten the sales cycle.
The Board of Directors has been streamlined to support this strategic transition, with plans to approve the roadmap soon. A Deputy CEO recruitment is underway to strengthen management. OSMOSUN's next financial update is scheduled for March 2025.
R. E.
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