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Aquaporin's 2025 Mid-Year Financial Results: Navigating Challenges and Opportunities

Aquaporin A/S, a leader in innovative water technology, has recently shared its financial results for the first half of 2025. The company, renowned for its commitment to revolutionizing water filtration through biotechnology, has faced some hurdles this year. However, it is poised to take strategic steps that could fortify its presence in the global water technology market.

Financial Highlights

In the first six months of 2025, Aquaporin reported revenue of DKK 9.1 million, a significant decline from DKK 29.2 million in the same period last year. Despite this downturn, the EBITDA loss improved slightly, decreasing to DKK 28.0 million compared to DKK 33.5 million in 2024. As of June 30, 2025, the company had cash and cash equivalents totaling DKK 29.4 million, a substantial reduction from DKK 103.5 million the previous year. This financial performance has necessitated a careful review of operational strategies and revenue projections.

CEO Ulrik Lund Jakobsen acknowledged the slower-than-anticipated order flow in 2025 but emphasized that Aquaporin has a strong foundation to build upon moving forward. The company aims to enhance its balance sheet and improve commercial traction through operational optimization and cost management, ensuring they maintain their full-year EBITDA guidance despite the changes in revenue expectations.

Business Highlights

Aquaporin achieved notable successes even amid the financial challenges. In collaboration with Singapore's National Water Agency, PUB, they completed trials demonstrating promising results. The Aquaporin Inside® CLEAR biomimetic membrane yielded up to 20% energy savings during the energy-intensive reverse osmosis treatment phase, effectively meeting stringent project standards.

In May, the company sold 500 CLEAR membranes to CZRLO in Beijing, facilitating significant energy efficiency improvements at both a municipal wastewater incineration plant and a coal chemical plant. Additionally, they secured a contract to deliver a Forward Osmosis system for Trinity College Dublin, further demonstrating the versatility of their technology.

Aquaporin has also made strides in expanding its footprint in South and Latin America. Collaboration with the system integrator, VOENS, aims to enhance wastewater recycling in Chile and purify groundwater in Mexico. A strategic agreement signed with the Liaocheng Water Group in Beijing as part of the Sino-Danish Water Alliance signifies an ongoing commitment to improve industrial wastewater management in China.

Strategic Outlook

In response to the current financial landscape, Aquaporin revised its revenue guidance for 2025 to DKK 40-50 million, down from the original DKK 60-80 million. The company expects the majority of revenue to be realized in the latter half of the year. To navigate through the coming years, Aquaporin has initiated a strategic review to explore capital-raising opportunities. With a financial advisor’s guidance, they aim to strengthen their capital base to support sustained growth and development.

The upcoming investor webcast scheduled for August 21, 2025, will provide further insights as Aquaporin’s management discusses the interim report and addresses inquiries from stakeholders.

Conclusion

As Aquaporin A/S navigates a challenging financial environment, it remains dedicated to its mission of transforming water filtration technologies. The results from the first half of 2025 highlight both the obstacles faced and the potential for innovative solutions in the water sector. With strategic adjustments in place, Aquaporin is better positioned to meet future challenges and seize opportunities in the evolving water technology landscape.