Overath/Bonn/Leipzig, September 30, 2024 – A.H.T. Syngas Technology N.V. (“AHT”, ISIN NL0010872388, WKN A12AGY), a leading company in the production of decentralized and climate-friendly biomass power plants, today published its financial figures for the first half of 2024. The company achieved a total operating performance of EUR 11.6 million in the reporting period (H1 2023: EUR 6.4 million). This comprises revenue of EUR 10.3 million (H1 2023: EUR 6.8 million) from AHT and the non-consolidated investment aremtech, which is now included for the first time, as well as processing services for projects in progress at both companies amounting to EUR 1.3 million. Total operating performance is over 80% higher than the previous year’s figure of EUR 6.3 million and already within reach of the figure for 2023 as a whole of EUR 13.7 million.
At EUR 515 thousand, earnings after taxes for the first half of the year are also over 64% higher than the previous year’s figure of EUR 313 thousand. AHT’s earnings before taxes (EBT) amounted to EUR 690 thousand in the reporting period (H1 2023: EUR 450 thousand). This shows that the extensive investments in the CleanTec strategy are not only contributing to growth, but are also having a positive impact on profitability.
“AHT has started the financial year with great momentum and is building on the strong growth of the previous year. In addition, AHT was able to continue the planned increase in personnel and push ahead with specific customer projects. By realigning our processes in the first half of the year, we have optimally positioned AHT to process inquiries more quickly and implement projects more efficiently. As a result, we were already able to commission plants in Germany and Japan in the third quarter. Accordingly, we are optimistic for the rest of the year,” says Gero Ferges, CEO of AHT.
Balance sheet total and cash flow almost doubled
The Group’s total assets have increased significantly compared to the first half of 2023 due to the larger project volumes. It amounted to EUR 8.88 million (H1 2023: EUR 5.88 million). Accordingly, the equity ratio fell to 47.1% (H1 2023: 60.5%), but remains at a very good level.
Cash flow from operating activities totaled EUR 624 thousand in the reporting period (H1 2023: EUR 515 thousand).
Successful business performance with projects in several regions
The first half of 2024 was characterized by strong operational growth, the expansion of the corporate infrastructure and the optimization of process chains in all areas of the company.
The aim here is to increase the number of units and reduce unit costs at the same time. Reducing costs is an important step towards building up the contracting business and opening up new markets.
In recent months, the strategic partnership with a key account in Japan has been further intensified. A total of three projects have been commissioned and are in various stages of completion.
The goal of joint and long-term market leadership in the field of gasification of biogenic raw materials in Japan is realistic.
The order backlog as at June 30, 2024 totaled EUR 17.0 million and is therefore slightly below the very high level of the previous year (June 30, 2023: EUR 21 million). The delivery orders originate from Japan and Germany, as well as service orders from Asia and Europe. The total volume of the project pipeline is around EUR 160 million based on a three-year framework agreement with a Japanese key account.
The number of project inquiries from Europe continues to rise significantly. Inquiries and offer volumes currently amount to more than EUR 100 million.
Forecast confirmed
In view of the projects currently in various stages of realization and the extensive order pipeline, AHT is confident about further developments in 2024. The successful implementation of the growth targets is fully reflected in the half-year figures for 2024. The Management Board is therefore confident of achieving annual sales of EUR 20 million and a net profit of EUR 1.2 million in 2024.
Selected income statement and balance sheet items in a year-on-year comparison:
| In Euro | 01.01.2024 bis 30.06.2024 | 01.01.2023 bis 30.06.2023* | Veränderung in Prozent |
| Umsatz | 10,3 Mio. | 6,8 Mio. | 51 % |
| Gesamtleistung | 11,6 Mio. | 6,3 Mio. | 81% |
| Vorsteuerergebnis (EBT) | 690,3 Tsd. | 450,0 Tsd. | 53% |
| Jahresergebnis | 515 Tsd. | 313 Tsd | 64% |
| Bilanzsumme | 8,88 Mio. | 5,88 Mio. | 51% |
| Eigenkapitalquote (in Prozent)* | 47,1% | 60,5% | -22% |
*As at the reporting date of 30.6.2024 and 30.06.2023 respectively (2023 without aremtech GmbH)