Aquaporin announces full-year 2024 results
Company announcementNo. 03/2025
Aquaporin A/SNymøllevej 78DK-2800 Kongens Lyngbyaquaporin.com Company registration no.: DK28315694
KONGENS LYNGBY, Denmark, March 20, 2025 /PRNewswire/ -- Aquaporin A/S (CSE:AQP) ("Aquaporin" or the "Company"), an innovative water technology company dedicated to rethinking water filtration with biotechnology, today announces the Annual Report for the period January 1 to December 31, 2024.
"Notwithstanding the change in guidance published on October 8 last year, 2024 was a pivotal year for Aquaporin as we advanced our mission to commercialize biotechnology-driven water purification solutions. We made tangible progress in product development, streamlined operations for efficiency, and expanded key business partnerships that position us for long-term growth," says Matt Boczkowski, Chief Executive Officer at Aquaporin A/S.
"In 2024, revenue decreased by 32% due to unexpected change in demand and the delay of a project. Strong cost control ensured improved EBIT (before special items) for the year, which allows Aquaporin to maintain a lower cost base and supports the journey to profitability," says Klaus Juhl Wulff, Chief Financial Officer at Aquaporin A/S.
Business highlights
Entered into strategic partnership with distributor Brenntag in APAC, Turkey, and China, strengthening Aquaporin's position to deliver advanced and sustainable wastewater treatment solutions.
Announced initial laboratory results for Aquaporin Inside® Generation 2, showing promising progress in membrane performance, ahead of pilot testing and scale up.
Launched Brackish Water Reverse Osmosis CLEAR Series, designed to increase energy-efficiency for industry, municipalities, and businesses, in China.
Secured new Brackish Water membrane orders in various geographies, including a milestone contract valued at USD 300,000 for municipal drinking water treatment plant project in Central Asia with CLEAR elements
Repeat sales of Forward Osmosis Essence-GO systems to various accounts.
Launched water purifier, Rafine PRO, with leading technology company, Vestel, in Turkey, offering high water contamination reduction rates with high-quality at-home purifier.
Completed successful Rights Issue raising gross proceeds of DKK 172 million.
Financial highlights
For the full year 2024, total revenue decreased by 32% to DKK 40.6 million vs. DKK 59.5 million ...