From GlobeNewswire: 2024-09-30 12:10:00

Valoe Corporation’s half-year report for 2024 shows a decline in net sales, with EBITDA at about EUR -1.0 million, EBIT at ca. EUR -1.7 million, and profit for the period at around EUR -2.0 million. The equity ratio is -47.6 per cent. Restructuring proceedings were initiated in January 2024. Financing negotiations have been prolonged, affecting operations.

Managing Director Iikka Savisalo highlights focus on key clients in automotive, electronics, and space industries. Prototypes for VIPV and solar energy applications were delivered successfully. Negotiations with investors for financing are ongoing, crucial for the company’s future. However, lack of funding may lead to bankruptcy if not resolved promptly.

Market guidance for 2024 is withheld due to restructuring proceedings. Financially, Valoe Group’s net sales fell by 82% in the first half of 2024, with EBITDA at EUR -0.5 million and profit at EUR -0.9 million in the second quarter. Cash flow before investments was EUR -0.6 million. Liquid assets stood at EUR 0.01 million at the end of June.

Overall, Valoe Corporation faces a challenging financial situation with decreased net sales and ongoing restructuring proceedings. Key client relationships are emphasized for possible future growth, pending crucial financing negotiations. The company’s future operations depend on securing sufficient funding to sustain business activities and prevent potential bankruptcy.



Read more at GlobeNewswire:: Valoe Corporation’s Half-Year Financial Report January –