Soiltech ASA (OSE: STECH)
Sandnes, Norway, 30 October 2024
Soiltech delivered another quarter with high activity, new contracts and listing on Euronext Expand.
Q3 Highlights
Good delivery across the full technology portfolio
- Q3 Adjusted EBITDA of NOK 13.4 million
- Q3 Revenue of NOK 67.6 million
- Q3 Profit before tax (excluding expenses related to IPO) came to MNOK 3.5. IPO expenses amounted to MNOK 13.6
9 months YTD Highlights
- 9 months Adjusted EBITDA of NOK 37.5 million
- 9 months Revenue of NOK 193.4 million
- 9 months Profit before tax (excluding expenses related to IPO) came to MNOK 13.3. IPO expenses amounted to MNOK 17.5
Outlook
- The demand for sustainable waste management services continue to grow, both in Norway and internationally. This is driven by tightening of the discharge regulations in EU and the rest of the world. Opening new opportunities for Soiltech
- Proactive investment of around NOK 100 million in new equipment which is available for future projects
- In the short term we anticipate higher activity in Q4, and we expect this upward trend to gain significant momentum through 2025 and into 2026.
“The listing on Euronext Expand in September was an important milestone in Soiltech’s history. The listing gives us access to new investors and growth capital to continue our expansion. Stricter environmental regulations in the oil & gas industry globally drives the demand for our technologies for waste reduction, waste recycling and reuse.” says Soiltech’s CEO Jan Erik Tveteraas.
About Soiltech: Soiltech is an innovative technology company specializing in the treatment, recycling and sustainable handling of contaminated water and solid waste on site. Our technologies enable cost savings and lower CO2 emissions through waste reduction, waste recovery and reuse.
Soiltech operates world-wide and is headquartered in Norway.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Chief Executive Officer, Jan Erik Tveteraas and Chief Financial Officer Tove Vestlie will be hosting a webcast and Q&A session at 11am today to discuss the results.
Please use the following link to sign up for the webcast: https://us06web.zoom.us/webinar/register/WN_YezDHiZeTvKCTbsaiS4jeg.
Expected duration: 30 minutes incl. Q&A.
For more information, contact: Tove Vestlie, CFO Telephone: (+47) 90 69 06 48 Jan Erik Tveteraas, CEO Telephone: (+47) 95 21 49 25
