Green Earth Group (GREEN) H2 2024 earnings summary

Executive summary

• Transitioned from development-stage to revenue-generating, issuing first verified carbon credits and expanding into plastic and biodiversity credits.

• Achieved key project validations in Kenya and Cameroon, with millions of trees planted and significant community impact.

• Completed first external audit since 2018, adopted cost-based accounting for project valuation, and executed a major share buyback.

• Strengthened governance with plans to expand the board and rebrand as Green Earth Group in 2025.

Financial highlights

• Revenue reached €88k in 2024, up from €43k in 2023, driven by first carbon credit issuances.

• Net loss widened to €4.266 million from €3.064 million year-over-year, reflecting increased investment in project scaling and infrastructure.

• Total assets decreased to €7.924 million from €10.599 million, while borrowings rose to €10.664 million.

• Equity turned negative at €-6.455 million, down from €2.649 million in 2023.

• Cash and cash equivalents increased to €460k from €94k.

Outlook and guidance

• Targeting €5 million in carbon offtake agreements in 2025 and aiming for sustained profitability by 2027.

• Plans to scale project pipeline, expand into Latin America and Central Asia, and diversify revenue streams through new credit types.

• Full share listing on Euronext Amsterdam and €725k private placement completed in early 2025.

• Rebranding to Green Earth Group to reflect broader environmental focus.