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FOM Technologies A/S
Earnings Release • Aug 29, 2024
6179_ir_2024-08-29_a8d9b6b8-c58d-48c6-a5ba-befc2b733dd4.pdf
Earnings Release
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PUBLISHING OF FINANCIAL REPORT
29.8.2024 18:43:36 CEST | FOM Technologies | Company Announcement
Company announcement no. 74 – 2024 Copenhagen, the 29th of August 2024
FOM Technologies today publishes the company's H1 results, which show lower activity and earnings than the H1 accounts from the record year 2023.
FOM Technologies has experienced lower activity in the first half of 2024 than in the first half of 2023. In particular, the company is experiencing a slowdown in demand for equipment for solar cell research, cf. company announcement of 15 August 2024.
CEO of FOM Technologies Michael Stadi is sorry for the lower activity for 2024 compared to the record year 2023, but he is confident, in relation to renewed growth for 2025 and beyond. "For the first time since 2017, we are experiencing headwinds, where solar cell technology in particular is challenged globally. We are continuing our strategic initiatives and are optimistic about the future."
FINANCIAL REPORT H1 2024 (January 1st - June 30th, 2024) ATTACHED.
The report has not been audited.
HIGHLIGHTS:
- Total income for H1 2024 at T.DKK 22.061 (-41% from T.DKK 37.400 in H1 2023)
- Staff cost for H1 2024 at T.DKK -11.387 (+22 % from T.DKK -9.328 in H1 2023)
- EBITDA for H1 2024 at T.DKK -8.399 (T.DKK -7.788 from T.DKK -611 in H1 2023)
- Net cash flow for H1 2024 at T.DKK -9.395 (T.DKK 430 in H1 2023).
- Cash and cash equivalents of 38.6m.DKK
- Total number of full-time employees 31 (+3% from 30 in H1 2023).
- Equity increased to T.DKK 67.241 (+127 % from T.DKK 29.571 in H1 2023)
- Full acquisition of a Swedish sub-supplier completed during Q2 2024.
- Financial guidance for full year of 2024 changed on the 15th of August through a company announcement.
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CONTACT INFORMATION:
Selskab/Company:
FOM Technologies A/S CEO Michael Stadi Tlf: +45 20 66 60 44 E-mail: [email protected] www.fomtechnologies.com
Certified Advisor:
Norden CEF A/S John Norden Tlf: +45 20 72 02 00 E-mail: [email protected] www.nordencef.dk
Kommunikation/Communication:
Gullev & Co. ApS
Boris Gullev Tlf: +45 31 39 79 99 E-mail: [email protected] www.gullev.co
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Contacts
Michael Stadi, CEO, +45 20 66 60 44, [email protected]