Publish Date: 7 Jan 2025, 09:15 CET
Due to contracted but delayed Ballast-as-a Service (BaaS) jobs as well as a delay in capital raise for investment in mobile units for BaaS, the full year 2024 Sales and EBITDA will be lower than guidance. The EBITDA break-even forecast for Q1 2025 is unchanged.
With client's postponement in executing contracted BaaS jobs to Q1 2025, as well as delay in initiating investment in two new mobile units for BaaS jobs, sales of approximately 16 mill SEK and EBITDA of 5 mill SEK are delayed from H2 2024 to H1 2025. FY 2024 guidance is now 15-16 mill SEK in Sales (vs. earlier guidance of 30-42 mill SEK) and -23 - -22 mill SEK in EBITDA (vs. -17 - -12 mill SEK).
With the announcement on 30. December 2024 detailing a secured equity subscription of approximately 15,4 mill SEK, the investment plan in new mobile units can now be initiated.
Bawat is still expecting to be EBITDA positive in Q1 2025 in line with August 2024 guidance. Full Year guidance for 2025 will be published later in January 2025.
The full year 2024 figures will be released according to the financial calendar February 26, 2025.
FOR MORE INFORMATION, PLEASE CONTACT:
Investors & Media:
Marcus P. Hummer, CEO, E-mail: mph@BAWAT.com
John B. Henriksen, CFO, E-mail jbh@BAWAT.com
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
ca@skmg.se
This press release constitutes inside information that Bawat Water Technologies AB is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release on January 7, 2025, at 09:15 CET.
About Bawat
The development of an entirely new approach to ballast water treatment utilizing onboard waste heat to treat ballast water led to the founding of Bawat in 2011. A ballast water treatment system avoids disposal of untreated water in seas and harbors. Bawat's BWMS is a system that is simple, cost-effective, and sustainable, build on a zero environmental impact, using standard marine components. No filters, no chemicals no UV. And is the first to market a USCG/IMO Type Approval BWMS that uses pasteurization to treat ballast water in a one-pass process. Bawat has built upon its innovative breakthrough, and now offers ballast water solutions to the maritime industry in three categories:
- A ship BWMS for Retrofit and New Builds
- Mobile containerized solution for multiple vessel usage in a port, on a ship or for rigs
- Ballast Water as a Service (BaaS) for contingency services in ports
Bawat is an engineer-driven company that is rooted in the tradition of Danish maritime innovation and with a deep maritime insight: www.bawat.com. Bawat is listed on Nasdaq First North Growth Market.
