Euro Tech Holdings Company Limited Reports 2024 Year-End Results
Euro Tech Holdings reported its 2024 financial results with a net income of $734,000, down from $1.83 million in 2023. The company's revenues decreased by 14.3% to $15.38 million, primarily due to reduced sales of analytical instruments to the Hong Kong Government.
Despite lower revenue, gross profits increased by 15.4% to $4.45 million, driven by higher sales of Ballast Water Treatment Systems (BWTS) with better profit margins. The company maintained stable BWTS growth while facing challenges in its Wastewater Treatment business due to declining foreign investment.
Looking forward, Euro Tech sees opportunities in mobile port BWT systems and shore-based water solutions. The company plans to focus on capturing the small and medium-sized ships market for BWTS retrofit and expanding direct marketing efforts with shipowners in high-growth shipping regions outside China.
Euro Tech Holdings ha riportato i risultati finanziari del 2024 con un utile netto di 734.000 dollari, in calo rispetto ai 1,83 milioni di dollari del 2023. I ricavi dell'azienda sono diminuiti del 14,3%, attestandosi a 15,38 milioni di dollari, principalmente a causa della riduzione delle vendite di strumenti analitici al governo di Hong Kong.
Nonostante il calo dei ricavi, i profitti lordi sono aumentati del 15,4%, raggiungendo 4,45 milioni di dollari, grazie a una maggiore vendita di Sistemi di Trattamento delle Acque di Zavorra (BWTS) con margini di profitto più elevati. L'azienda ha mantenuto una crescita stabile nel settore BWTS, pur affrontando difficoltà nel comparto del trattamento delle acque reflue dovute al calo degli investimenti esteri.
Guardando al futuro, Euro Tech individua opportunità nei sistemi mobili di trattamento delle acque di zavorra per porti e nelle soluzioni idriche a terra. L'azienda intende concentrarsi sul mercato delle navi di piccole e medie dimensioni per il retrofit BWTS e ampliare le attività di marketing diretto con gli armatori nelle regioni di crescita marittima al di fuori della Cina.
Euro Tech Holdings informó sus resultados financieros de 2024 con un ingreso neto de 734,000 dólares, una disminución respecto a los 1.83 millones de dólares en 2023. Los ingresos de la compañía bajaron un 14.3% hasta 15.38 millones de dólares, principalmente debido a la reducción en ventas de instrumentos analíticos al Gobierno de Hong Kong.
A pesar de menores ingresos, las ganancias brutas aumentaron un 15.4% hasta 4.45 millones de dólares, impulsadas por mayores ventas de Sistemas de Tratamiento de Agua de Lastre (BWTS) con mejores márgenes de ganancia. La empresa mantuvo un crecimiento estable en BWTS mientras enfrentaba desafíos en su negocio de tratamiento de aguas residuales debido a la disminución de inversión extranjera.
De cara al futuro, Euro Tech ve oportunidades en sistemas móviles de tratamiento de agua de lastre para puertos y soluciones de agua en tierra. La compañía planea enfocarse en capturar el mercado de barcos pequeños y medianos para la modernización BWTS y ampliar sus esfuerzos de marketing directo con armadores en regiones marítimas de alto crecimiento fuera de China.
Euro Tech Holdings는 2024년 재무 결과를 발표하며 순이익이 73만 4천 달러로 2023년 183만 달러에서 감소했다고 밝혔습니다. 회사의 매출은 14.3% 감소한 1,538만 달러로, 주로 홍콩 정부에 대한 분석 장비 판매 감소 때문입니다.
매출 감소에도 불구하고, 평형수 처리 시스템(BWTS) 판매 증가와 더 높은 이익률 덕분에 총이익은 15.4% 증가한 445만 달러를 기록했습니다. 회사는 BWTS 부문에서 안정적인 성장을 유지했으나 외국인 투자 감소로 인해 폐수 처리 사업에서는 어려움을 겪고 있습니다.
앞으로 Euro Tech는 이동식 항구 평형수 처리 시스템과 육상 수처리 솔루션에서 기회를 보고 있습니다. 회사는 소형 및 중형 선박의 BWTS 개조 시장을 공략하고, 중국 외 고성장 해운 지역의 선주들과 직접 마케팅을 확대할 계획입니다.
Euro Tech Holdings a annoncé ses résultats financiers pour 2024 avec un bénéfice net de 734 000 dollars, en baisse par rapport à 1,83 million de dollars en 2023. Le chiffre d'affaires de la société a diminué de 14,3 % pour atteindre 15,38 millions de dollars, principalement en raison d'une baisse des ventes d'instruments analytiques au gouvernement de Hong Kong.
Malgré une baisse du chiffre d'affaires, les bénéfices bruts ont augmenté de 15,4 % pour atteindre 4,45 millions de dollars, grâce à une augmentation des ventes de Systèmes de Traitement des Eaux de Ballast (BWTS) avec de meilleures marges bénéficiaires. L'entreprise a maintenu une croissance stable dans le secteur BWTS tout en rencontrant des difficultés dans son activité de traitement des eaux usées en raison de la baisse des investissements étrangers.
Pour l'avenir, Euro Tech entrevoit des opportunités dans les systèmes mobiles de traitement des eaux de ballast pour ports et les solutions hydriques terrestres. La société prévoit de se concentrer sur le marché des navires de petite et moyenne taille pour la modernisation BWTS et d'élargir ses efforts de marketing direct auprès des armateurs dans les régions maritimes à forte croissance en dehors de la Chine.
Euro Tech Holdings meldete seine Finanzergebnisse für 2024 mit einem Nettogewinn von 734.000 US-Dollar, was einen Rückgang gegenüber 1,83 Millionen US-Dollar im Jahr 2023 bedeutet. Die Umsätze des Unternehmens sanken um 14,3 % auf 15,38 Millionen US-Dollar, hauptsächlich aufgrund geringerer Verkäufe analytischer Instrumente an die Regierung von Hongkong.
Trotz niedrigerer Umsätze stiegen die Bruttogewinne um 15,4 % auf 4,45 Millionen US-Dollar, angetrieben durch höhere Verkäufe von Ballastwasserbehandlungssystemen (BWTS) mit besseren Gewinnmargen. Das Unternehmen hielt ein stabiles BWTS-Wachstum aufrecht, stand jedoch im Bereich der Abwasserbehandlung vor Herausforderungen aufgrund rückläufiger ausländischer Investitionen.
Für die Zukunft sieht Euro Tech Chancen bei mobilen Hafen-BWT-Systemen und landbasierten Wasserlösungen. Das Unternehmen plant, sich auf die Erschließung des Marktes für kleine und mittelgroße Schiffe für BWTS-Nachrüstungen zu konzentrieren und die Direktmarketingaktivitäten mit Schiffseignern in wachstumsstarken Schifffahrtsregionen außerhalb Chinas auszubauen.
- Gross profits increased 15.4% to $4.45M in 2024
- Cash and cash equivalents grew to $5.8M from $5.45M in 2023
- Total current liabilities decreased by 28.4% to $4M
- Strong market potential identified in mobile port BWT systems
- Net income shows substantial increase when excluding 2023's one-time gain
- Revenue decreased 14.3% to $15.38M in 2024
- Net income declined 59.8% to $734K from $1.83M in 2023
- Total assets decreased to $20.7M from $22.1M
- Wastewater Treatment business struggling due to declining foreign investment
- Total current assets declined to $9.23M from $10.55M
Insights
Euro Tech shows improved profitability despite revenue decline, with strategic shift toward higher-margin BWTS offsetting lower instrument sales.
Euro Tech Holdings reported a complex financial picture for fiscal 2024. While net income decreased to
Revenue fell
The company's disciplined cost management is evident in the slight
The company's clear pivot toward maritime environmental solutions presents growth potential despite ongoing challenges in its wastewater treatment segment. The expansion into mobile port BWT systems and focus on retrofit opportunities for small and medium-sized vessels represents a calculated adaptation to regulatory-driven market demands and environmental compliance requirements.
The Company had net income of
The Company's revenues for Fiscal 2024 were
Gross profits increased by
Selling and administrative expenses slightly decreased by
Mr. David Leung, CEO of the company commented,
"In 2024, the company's performance has remained stable despite a challenging economic landscape. We have maintained stable growth overall for BWTS. However, our Wastewater Treatment ("WWT") business continues to struggle due to the industrial sector being impacted by declines in foreign investment.
Looking ahead, even though economic challenges still exist, we are confident in our ability to develop the company. We see market potential for using mobile port BWT systems and related shore-based water solutions because of certain maritime cities experiencing high traffic congestion and a demand for using port BWT as emergency and rapid solutions. Additionally, more maritime countries will soon launch stricter environmental regulations to protect their coastlines, which will benefit us in promoting clean water solutions, such as ballast water, industrial wastewater and water solutions, etc. Last but not least, we will continue to capture the small and medium-sized ships market for BWTS retrofit at full speed and are planning to engage in direct marketing with shipowners by co-organizing technical seminars with distributors in high-growth shipping regions outside
Turning adversity into opportunity is the way forward!"
About BWTS
BWTS are an imminent requirement by The International Maritime Organization ("IMO") to prevent the biological unbalance caused by the estimated 12 billion tons of ballast water transported across the seas by ocean-going vessels when their ballast water tanks are emptied or refilled. In 2012, ballast water discharge standard became a law in the US. Any vessel constructed in December 2013 or later will need to comply when entering US waters, and existing vessels will follow shortly after. IMO's Ballast Water Management Convention entered into force for new-built vessels on September 8, 2017 after ratification by 52 States, representing
The company obtained type approval certificate from
The IMO convention stipulates that type approval for revised G8 requirements must be obtained for all BWTS installed on or after October 28, 2020, and the company have been in compliance with such requirements.
Its ballast water port solution, HarborBallast, is a system installed in port to offer ballast water treatment services for ocean-going ships without their own BWTS and for those with damaged BWTS.
Forward Looking Statements
Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in
CONDENSED STATEMENTS OF OPERATIONS | |||
(Dollar amounts in US$ thousands, except share and per share data) | |||
Year Ended December 31, | |||
2024 | 2023 | ||
Revenues | 15,383 | 17,940 | |
Net Income Attributable to the Company | 734 | 1,828 | |
Net Income Per Ordinary Share – Basic | |||
Weighted Average Number of Ordinary Shares Outstanding –Basic |
7,716,993 |
7,726,118 | |
SELECTED BALANCE SHEET DATA | |||
As of December 31, | |||
2024 | 2023 | ||
Cash and Cash Equivalents | 5,805 | 5,453 | |
Total Current Assets | 9,229 | 10,545 | |
Total Assets | 20,708 | 22,120 | |
Total Current Liabilities | 4,005 | 5,596 | |
Total Liabilities | 4,014 | 5,640 | |
Total Euro Tech Shareholders' Equity | 15,743 | 15,641 | |
View original content:https://www.prnewswire.com/news-releases/euro-tech-holdings-company-limited-reports-2024-year-end-results-302442949.html
SOURCE EURO TECH HOLDINGS COMPANY LIMITED
FAQ
What caused Euro Tech (CLWT) net income to drop from $1.8M to $734K in 2024?
Why did Euro Tech (CLWT) revenue decrease by 14.3% in 2024?
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What are Euro Tech's (CLWT) growth plans for Ballast Water Treatment Systems?
What is Euro Tech's (CLWT) financial position as of December 31, 2024?
