on EO2 (EPA:ALEO2)

EO2 unveils its 2023-2024 annual results

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Malakoff, June 28, 2024 – EO2, a key player in wood energy, publishes its annual results for the 2023-2024 financial year. The company announces a turnover of €34.1 million, down 14.9% compared to the previous year.

The Gross Operating Surplus (EBE) amounts to €5.0 million, compared to €9.2 million in 2022-2023. Operating profit stands at €0.4 million. Gross available cash reaches €7.0 million, for net debt of €5.9 million.

The “wood pellet” sector generates €28.3 million in turnover, suffering a drop of 11.0% due to the normalization of pellet prices and moderate demand. “Energy services” recorded a drop of 30% to €5.8 million, mainly due to the decline in the activities of the Weya subsidiary.

The outlook for 2024-2025 remains cautious. EO2 plans to optimize its costs and adjust its production to support its profitability.

R. P.

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