ENOGIA Reports Strong First-Half 2024 Results with 53% Revenue Increase

ENOGIA, a specialist in micro-turbomachinery for the energy transition, has announced its first-half 2024 results. The company's revenue surged by 53% to €3.6 million. EBITDA reached break-even, contrasting with a €1.5 million loss in the same period last year.

The company recorded a significant rise in orders, with a diversified customer base totaling €4.4 million, bringing the order book to €7.5 million as of June 30, 2024. Export revenues accounted for 81% of total revenue, driven by notable contracts such as with Chantiers de l’Atlantique in France.

The ORC Modules business reported a 34% revenue increase to €3.0 million, influenced by projects in the geothermal and maritime sectors. Turbomachinery division sales rose almost fivefold to €0.6 million, boosted by decarbonisation solutions.

Efforts in operational efficiency yielded positive results, reducing personnel expenses by 13% to €1.5 million. The company also achieved positive cash flow for the first time, amounting to €0.03 million. The operating loss decreased significantly to €0.6 million, and the net loss narrowed to €0.5 million.

Looking ahead, ENOGIA maintains its revenue growth target of over 50% for 2024 and 2025 and expects EBITDA to break even in the current financial year.