TENAX INTERNATIONAL S.P.A. (Alliance News) - Tenax International Spa reported Thursday that machine revenues from the beginning of the year to date are EUR12.3 million, with a machine order backlog of EUR13 million.
Based on projected deliveries, EUR7.8 million of the order backlog is for this year and EUR5.2 million for next year.
Therefore, in light of the turnover achieved to date and the deliveries expected by the end of the year, the company expects to end 2023 with a machine turnover of EUR20.1 million, which-if confirmed as per the production plan-would represent 124 percent of the 2022 machine turnover of EUR16.2 million.
The incidence of foreign markets is confirmed to be particularly high, with more than 96 percent of sales realized and in progress. A particularly significant figure is the acquisition of the first orders for Electra 5.0, the first 5-cubic meter 100% electric machine in the Tenax range, which will be launched on the market in 2024; at the moment, orders for Electra 5.0 account for about 18% of the order backlog for 2024.
Vincenzo Guareschi Geddes da Filicaia, president and CEO of Tenax International, said, "Despite an extremely complicated context, between geopolitical events, inflation and high levels of interest rates, the 2023 figures-both at the half-year level and the year-end outlook-confirm absolute growth for Tenax."
"Beyond the macroeconomic picture, we faced important challenges in this 2023, including the market launch of the new versions of Electra 2.0 Evos+ and Electra 2.0 Hydros, and - most importantly - we continued the development of Electra 5.0, whose first orders we are collecting and which we are confident will represent a further decisive step forward in electrification in the urban sanitation sector. Finally, the fact that, as of today, our order backlog for 2024 already covers 20 percent of 2023 machine sales is highly significant and makes us look even more positively to the future."
Tenax International's stock closed Thursday at parity at EUR2.74 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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