Aquaporin (AQP) Q3 2024 TU earnings summary

Financial performance and guidance

• Revenue for Jan–Sep 2024 reached DKK 32.8 million, up from DKK 31.3 million in 2023, but Q3 revenue dropped to DKK 3.6 million due to lower orders and project delays.

• Industrial Water revenue in Q3 rose to DKK 2.1 million from DKK 0.5 million in 2023.

• EBIT loss improved to DKK 20.3 million in Q3 2024 from DKK 25.1 million in Q3 2023.

• Cash and cash equivalents stood at DKK 93.1 million after a DKK 172.4 million rights issue in April 2024.

• Full-year 2024 guidance maintained: revenue DKK 40–45 million, gross profit margin 30–35%, EBIT loss DKK 90 million.

Business and operational highlights

• Entered a strategic distribution partnership with Brenntag for APAC and Turkey, expanding industrial reach.

• Launched the CLEAR Series in China, targeting energy savings in water treatment for various sectors.

• Achieved milestones in a joint development project with E. & J. Gallo Winery for innovative FO solutions.

• Opened a new polymer lab to advance next-generation Aquaporin Inside® protein technology.

Subsequent and strategic events

• Secured the largest order to date for CLEAR elements for a municipal project in Central Asia.

• Expanded Brenntag partnership in China with a Letter of Intent at the China International Import Expo.

• Aquaporin Space Alliance signed a new contract with ESA for a space water recovery system.

• Laboratory advancements indicate potential for increased energy efficiency with Next Generation Aquaporin Inside® technology.