#Sustainability #Denmark #Water Technology #Aquaporin #Kongens Lyngby

Aquaporin's Q1 2025 Trading Statement

Aquaporin A/S, a leading innovator in water filtration technology, announced its Trading Statement for the first quarter of 2025. Despite a challenging start to the year, with revenue down from the same quarter last year, the company remains optimistic and has reaffirmed its full-year financial guidance. The company's CEO, Matt Boczkowski, is optimistic about a return to growth, stating, "In 2025, we expect to be back on our previous growth track as we advance on our journey towards profitability. The commercial traction is resuming, and we have a growing inflow of orders that will materialize throughout the year."

The financial metrics disclose a Q1 2025 revenue of DKK 3.2 million, compared to DKK 6.2 million in Q1 2024. The primary driver for the revenue was the Forward Osmosis market, which is expected to see significant uptake through 2025, particularly in the latter half of the year. A notable highlight is that Aquaporin's EBITDA loss improved to DKK 15.3 million compared to DKK 19.3 million in the same period last year.

Business Developments

Aquaporin has made considerable strides in diversifying its order pipeline. The company emphasized that its strategic relationships are bearing fruit through repeat orders from various customers, thus decreasing its reliance on a few key accounts. Within this context, Aquaporin has collaborated effectively with Gallo, yielding high-quality concentration outcomes at pilot scales.

The company has also entered a significant framework agreement in Beijing with the Liaocheng Water Group, part of the Sino-Danish Water Alliance. This initiative aims to enhance industrial wastewater treatment and management across China, showcasing Aquaporin’s commitment to global sustainability efforts.

Internationally, Aquaporin is extending its footprint in South and Latin America. Recent orders from system integrator VOENS will enhance wastewater recycling processes in Chile and improve well water purification in Mexico. Furthermore, in a bid to support educational advancements, Aquaporin has secured a pilot plan contract with Trinity College Dublin to deliver a Forward Osmosis system aimed at developing innovative bio-based product processes.

Additional noteworthy developments include fulfilling an order of 500 CLEAR membranes to CZRLO in Beijing, aimed at significantly increasing energy efficiency at a municipal wastewater incineration plant and a coal chemical facility. Furthermore, the company's recent collaborations with Singapore’s National Water Agency revealed promising results which align favorably with project expectations.

Leadership Transition

In an important update, CEO Matt Boczkowski has announced his decision to step down by the end of September 2025, due to personal reasons requiring a relocation to North America. While he will continue to lead the company until his departure, the Board of Directors has started their search for his successor.

Conclusion

Aquaporin's first quarter of 2025 has shown that the company is on a path towards recovery and stabilization, supported by a robust order backlog and increased market engagement. As the year progresses, Aquaporin remains poised to tap into the anticipated revenue surge expected in the latter part of 2025. By committing to innovative technologies and strengthening its global partnerships, Aquaporin aims to address significant water challenges worldwide while advancing its mission for sustainability.