AeTECH Announces Disappointing Q3 2024 Results with a Downward Trend
AeTECH has finally released its third-quarter 2024 results, several weeks behind schedule. Unfortunately, the figures continue to show a downward trend.
Operating Results The company's operating products for the first nine months of the year have declined by 14%, reaching 3,754 MTND. The Solutions business segment has been particularly affected, with a turnover of only 0,535 MTND, due to a decrease in high-value-added activities. As a reminder, during the first half of the year, new delivery deadlines were imposed by constructors, and a delay in the materialization of new orders was observed. The Advanced e-Services activity generated 3,218 MTND, also down by 10% year-over-year.
Third Quarter Performance The third quarter of the exercise was particularly challenging, with a 22% year-over-year decrease in operating products, reaching 1,308 MTND.
Expenses and Financials Operating expenses, excluding depreciation and provisions, have decreased by 20%, reaching 3,851 MTND. However, the EBITDA remains negative, at -0,097 MTND. Financial expenses have decreased by 58%, reaching 0,177 MTND.
Outlook AeTECH appears to be heading towards an annual loss. The company's first-half 2024 accounts have not been published. AeTECH urgently needs recapitalization, which will likely be discussed during the upcoming Ordinary General Meeting scheduled for December 13th.
