Press release
OREGE GROUP ACTIVITY AND HALF YEAR 2022 RESULTS
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Summary financial information for the six months ended
(consolidated accounts approved by the Board of directors on 19 October 2022).
In K€ - IFRS | H1 2022 ( | H1 2021 ( | Year 2021 ( |
Turnover | 1 078 | 790 | 2 264 |
Operating expenses (net) | |||
Payroll expenses | -1 927 | -1 841 | -3 149 |
Other operating expenses | -1 817 | -1 527 | -3 056 |
Depreciation and amortisation | -255 | -140 | -555 |
Total operating expenses (net) | -3 999 | -3 508 | -6 760 |
Operating result | -2 921 | -2 718 | -4 496 |
Financial result | 4 | -49 | -108 |
Corporation tax | 0 | 0 | 0 |
Net loss | -2 917 | -2 767 | -4 604 |
Turnover
Turnover for the first half year 2022 was 1 078 K€ compared to 790 K€ for the first half year 2021 representing an increase of 36%.
Operating expenses
Operating expenses for the first half year 2022 increased by 14% compared to the first half year 2021 which reflects the increase in activity.
Financial result
The financial result is made up of the interest cost on debt of 736 K€ (593 K€ for H1 2021) and net foreign exchange gains of 740 K€ (544 K€ for H1 2021).
Financing and cash
At
At
Since
Activity and outlook
Resumption of post-pandemic activity
Almost all the constraints linked to the pandemic have been lifted since this summer since when
Orège has been able to adapt to disrupted supply chains
The global pressure on supply chains has increased in recent months (prices, delivery times, availability of certain electronic components and PLCs, etc.).
As a result,
Impact of the energy crisis on the business
In a context where the energy crisis has a strong impact on many of our customers and partners,
It should be remembered that the energy costs of wastewater treatment plants are a significant operating expense of these plants.
This dedicated commercial approach will enable
Projects signed and/or in the execution phase in the US and the
Orders expected by the end of 2022
- The two projects signed with municipal utilities in
Wisconsin (La Crosse ) and in SouthCarolina (Easley) will be largely completed in 2022, which should generate revenue for the year of approximately 700 K€. - A major project on an industrial wastewater treatment plant in
Houston , initiated in collaboration with theAlfa Laval Group , is in progress.
It should make a significant contribution to revenue for 2022.
Orege has just signed a contract in October for the sale of 3 SLG-F thickening solutions with a new Water Utility in theUK . The 3 corresponding units could be implemented by the end of 2022 and generate around €1 million in revenue for the current financial year.- Four orders (3 in the
UK and 1 in the US) are expected by the end of 2022 for a total value of around €1.3 million. TheOrege solutions for these 4 projects would be implemented by early 2023.
Outlook 2023
A detailed update the outlook for 2023 will be given during the
Other information:
The half year report will be published in French on the Company’s website (www.orege.com) 21st
Contact
George.gonsalves@orege.com - mob: +33 6 08 03 50 72
Attachment
Orege Group activity and half year 2022 results
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