Eagle Filters Group (EAGLE) H2 2024 earnings summary

Executive summary

• Revenue grew 26% year-over-year to EUR 7.6 million, driven by Clean Energy business area, despite a weak start to H2 undermining profitability.

• Order intake declined 19% year-over-year to EUR 5.0 million, with order backlog at EUR 1.2 million at year-end.

• EBITDA improved to EUR -2.1 million from EUR -2.6 million, but remained negative due to low production volumes and operational challenges in early H2.

• First sales in Advanced Materials business achieved; health & safety business discontinued.

• Share issues and new debt financing strengthened liquidity; further funding may be raised in 2025.

Financial highlights

• Revenue: EUR 7.6 million (up 26% year-over-year); H2 revenue EUR 3.7 million (up 30%).

• EBITDA: EUR -2.1 million (improved from EUR -2.6 million year-over-year); H2 EBITDA EUR -1.7 million.

• Operating result: EUR -3.2 million (improved from EUR -3.7 million year-over-year).

• Net result: EUR -3.9 million (improved from EUR -4.8 million year-over-year); EPS EUR -0.02.

• Net debt: EUR 4.9 million (up from EUR 4.2 million year-over-year); equity ratio 17.6%.

Outlook and guidance

• Long-term targets: >30% annual revenue growth and >20% EBITDA margin for Eagle Filters Oy.

• No short-term outlook published; management remains committed to profitability and growth.

• Automation projects and new robotics expected to improve production efficiency in 2025.