Aquaporin announces full-year 2024 results
Aquaporin A/S, a water technology company based in Kongens Lyngby, Denmark, announced its full-year 2024 results on March 20, 2025. Here’s a summary of the key points based on the available information:
- Revenue Performance: For the full year 2024, Aquaporin reported total revenue of DKK 40.6 million, a 32% decrease compared to DKK 59.5 million in 2023. This decline was primarily attributed to an unexpected drop in demand from its largest Drinking Water customer and a delay in a significant Forward Osmosis project, which shifted into 2025. Despite the overall decrease, the Industrial Water segment saw a substantial revenue increase of 192%, reaching DKK 10.5 million, while Drinking Water revenue fell by 55% to DKK 18 million, and Forward Osmosis Market Development dropped by 27% to DKK 12 million.
- Financial Metrics: The gross profit margin remained relatively stable at 31% in 2024, compared to 32% in 2023. Operating costs decreased by DKK 17.3 million to DKK 95.6 million, reflecting organizational restructuring and a focus on cost management. Earnings Before Interest and Taxes (EBIT) before special items improved slightly to a loss of DKK 83 million, compared to a loss of DKK 90 million in 2023. Cash and cash equivalents stood at DKK 77.3 million as of December 31, 2024, bolstered by a successful Rights Issue that raised DKK 172 million in gross proceeds, a significant improvement from DKK 2.8 million at the end of 2023.
- Operational Highlights: Aquaporin achieved several milestones in 2024, including promising laboratory results for its Aquaporin Inside® Generation 2 membrane technology, the launch of the energy-efficient Brackish Water Reverse Osmosis CLEAR Series in China, and securing a USD 300,000 contract for a municipal drinking water project in Central Asia. The company also introduced the Rafine PRO water purifier in Turkey with Vestel and saw repeat sales of its Forward Osmosis Essence-GO systems.
- Outlook for 2025: Aquaporin projects revenue for 2025 to be in the range of DKK 60-80 million, with an expected EBITDA (before special items) loss of DKK 45-55 million. This forecast reflects cautious optimism as the company aims to recover from the setbacks of 2024 and capitalize on its growing Industrial Water segment and new product developments.
- Webcast: On March 20, 2025, at 11:00 AM CET, CEO Matt Boczkowski and CFO Klaus Juhl Wulff hosted a webcast to discuss these results, providing further details and answering questions from investors and stakeholders.
These results highlight a challenging year for Aquaporin with a notable revenue decline, offset by strategic cost reductions and growth in specific segments, positioning the company for potential recovery in 2025. For more detailed insights, the full Annual Report 2024 is available through Aquaporin’s official channels.
