Company Release
Betolar Plc's Business Review 1-3/2024: Mining business has opened
This is a summary of the Q1 Business Review, which is in its entirety attached to this release and can be downloaded from the company's website at www.betolar.com/investors
January-
- Net sales amounted to
EUR 68 (43) thousand -
EBITDA amounted to
EUR -1,959 (-3,124) thousand -
Cash and cash equivalents and short-term fund investments at the end of the period amounted to
EUR 11,665 (22,604) thousand -
Order intake amounted to
EUR 369 (46) thousand - The number of new NRE projects was 2 (-)
- The number of new pilot customers was 1 (5)
- The average number of employees was 52 (66)
Main events in January-March
Betolar was granted a patent for a method of treating road or foundation base layer with an activator in a mobile apparatus to form a hardeanable geopolymeric or alkali-activated mixture.Betolar updated its medium and long-term business and financial targets on14 February 2024 .-
The Annual General Meeting was held on
27 March 2024 .
Main events after the period
- The Board appointed COO
Tuija Kalpala asBetolar 's new CEO to accelerate the company's commercial development. She took up her duties on22 April 2024 . - CFO and member of the Management Team Riikka Ylikoski announced that she will move to a new position outside the company. Ylikoski will continue in her position until mid-July.
-
As Sales and Operations functions were merged, Chief Commercial Officer,
Ville Voipio stepped down from the Management Team. -
The company started change negotiations on
29 April 2024 as it focuses on rapidly developing solutions for the side stream, mining, and metal industries.
This business review is not an interim report under the IAS 34 standard. The company complies with the half-yearly reporting requirements of the Securities Markets Act and publishes business reviews for the first three and nine months of the year, which present key information and key figures on the company's strategy and business development. The figures presented in this business review are unaudited. The figures in brackets refer to the corresponding period in the previous year, unless otherwise stated.
Key figures
(EUR thousand, unless otherwise specified) |
1-3 2024 |
1-3 2023 |
1-12 20232 |
Financial indicators | |||
Net sales | 68 | 43 | 515 |
EBITDA1 | -1,959 | -3,124 | -11,181 |
Cash and cash equivalents and short-term fund investments (at the end of the period)1 | 11,665 | 22,604 | 14,315 |
Operational indicators | |||
Order intake (EUR thousand)1 | 369 | 46 | - |
Number of new NRE projects1 | 2 | - | - |
Number of new pilot customers1 | 1 | 5 | 24 |
Personnel (average number during the financial period) | 52 | 66 | 60 |
Betolar uses certain indicators (EBITDA, cash and cash equivalents and short-term fund investments, order intake, number of new NRE projects and number of new pilot customers) as quarterly indicators of operational profitability and business performance. The definitions and calculation formulas of these indicators can be found in the appendix to the report.- The figures for the financial year 2023 have been audited.
CEO
During the first quarter, we focused on our mining business. We are addressing the need for high-volume, low-carbon material solutions in mine construction, and providing avenues for utilizing mining side streams, such as in soil stabilization. At the same time, we continued the development of hollow core slabs, particularly focusing on projects for our existing clients.
The mining industry and untapped side streams offer significant potential for
We estimate that the mining industry's emission reduction goals accelerate the interest and demand for
In early part of the year, we launched an AI-based side stream analysis service for companies generating side streams. The service efficiently and quickly provides customers with a preliminary assessment of the opportunities for utilizing the material generated in their operations. Through this novel approach,
The revenue for the first quarter was low. However, winning non-recurring engineering (NRE) projects strengthens our expectations for the future and going forward, we will report on new NRE projects as part of our financial reporting. As early-stage consultative NRE projects progress, our aim is to become part of the value chain and commercialize the developed side stream or material solution together with our customer.
Financial reporting
- 27
August Half -year Review - 1 November Q3 Business Review
Webcast for investors and media
In the English-language presentation, CEO
More information
Tuija Kalpala, CEO, tuija.kalpala@betolar.com, tel. +358505676608
Certified Adviser:
About
Read more: www.betolar.com
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