Soiltech ASA announces third quarter 2024 results

30 Oct 2024 07:19 CET

Soiltech ASA (OSE: STECH)
Sandnes, Norway, 30 October 2024

Soiltech delivered another quarter with high activity, new contracts and listing
on Euronext Expand.

Q3 Highlights
Good delivery across the full technology portfolio
• Q3 Adjusted EBITDA of NOK 13.4 million
• Q3 Revenue of NOK 67.6 million
• Q3 Profit before tax (excluding expenses related to IPO) came to MNOK 3.5. IPO
expenses amounted to
MNOK 13.6.

9 months YTD Highlights
• 9 months Adjusted EBITDA of NOK 37.5 million
• 9 months Revenue of NOK 193.4 million
• 9 months Profit before tax (excluding expenses related to IPO) came to MNOK
13.3. IPO expenses
amounted to MNOK 17.5

Outlook
• The demand for sustainable waste management services continue to grow, both in
Norway and
internationally. This is driven by tightening of the discharge
regulations in EU and the rest of the
world.Opening new opportunities for Soiltech.
• Proactive investment of around NOK 100 million in new equipment which is
available for future projects
• In the short term we anticipate higher activity in Q4, and we expect this
upward trend to gain significant
momentum through 2025 and into 2026.

"The listing on Euronext Expand in September was an important milestone in
Soiltech's history. The listing gives us access to new investors and growth
capital to continue our expansion. Stricter environmental regulations in the oil
& gas industry globally drives the demand for our technologies for waste
reduction, waste recycling and reuse.” says Soiltech’s CEO Jan Erik Tveteraas.

About Soiltech: Soiltech is an innovative technology company specializing in the
treatment, recycling and sustainable handling of contaminated water and solid
waste on site. Our technologies enable cost savings and lower CO2 emissions
through waste reduction, waste recovery and reuse.

Soiltech operates world-wide and is headquartered in Norway.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

Chief Executive Officer, Jan Erik Tveteraas and Chief Financial Officer Tove
Vestlie will be hosting a webcast and Q&A session at 11am today to discuss the
results.

Please use the following link to sign up for the webcast:
https://us06web.zoom.us/webinar/register/WN_YezDHiZeTvKCTbsaiS4jeg.
Expected duration: 30 minutes incl. Q&A.

For more information, contact: Tove Vestlie, CFO Telephone: (+47) 90 69 06 48
Jan Erik Tveteraas, CEO Telephone: (+47) 95 21 49 25

More information:
Access the news on Oslo Bors NewsWeb site

630687_SOILTECH Q3 2024.pdf