Groupe OKWIND Prepares for New Growth Cycle Amidst Challenges

Groupe OKWIND reported a 16% decline in revenue for the first half of 2024, amounting to €31.4 million, due to cyclical factors like volatile electricity prices and political uncertainties. EBITDA dropped to €1.2 million, reflecting a challenging period with improved gross margins. Despite these setbacks, the company maintained a strong cash position of €15.2 million as of June 30, 2024.

The third quarter also saw revenues decline by 17% compared to the previous year. However, the company anticipates a revenue rebound in the fourth quarter, aiming for a total of around €64 million in 2024, with an EBITDA rate above 7%. The strategic repositioning of its offerings has been positively received, particularly within the agricultural sector.

OKWIND is expanding its operations, having secured building permits for a new plant to increase production capacity. Moreover, the company plans to focus on self-consumption projects across industries, local authorities, and agriculture to capitalize on its expertise.