Brief: Forsee Power FY Net Loss Narrows At Eur 32.6 Mln

Forsee Power SA

05/04/2023 16:53

April 5 (Reuters) - Forsee Power SA  FORSE.PA :
    * FORSEE POWER ANNOUNCES 2022 RESULTS MARKED BY VERY STRONG
BUSINESS GROWTH AND IMPROVED FINANCIAL PERFORMANCE
    * REVENUE GROWTH OF +53% TO EUR 111 MILLION AND IMPROVEMENT
OF
ADJUSTED EBITDA MARGIN 2022 TO (13) % OF REVENUE
    * FY ADJUSTED EBITDA LOSS EUR 13.9 MILLION VERSUS LOSS EUR
14.4
MILLION YEAR AGO
    * FY CONSOLIDATED NET LOSS EUR 32.6 MILLION VERSUS LOSS EUR
38.1
MILLION YEAR AGO
    * CASH AVAILABLE AT DECEMBER 31, 2022 AMOUNTED TO EUR 31.0
MILLION
    * GROSS FINANCIAL DEBT WAS EUR 60.2 MILLION AT DECEMBER 31,
2022
    * LIQUIDITY POSITION OF EUR 41 MILLION AT END OF DECEMBER
2022
    * OUTLOOK 2023: REVENUES ABOVE EUR 160 MILLION AND
SIGNIFICANT
IMPROVEMENT IN ADJUSTED EBITDA
    * OUTLOOK 2024: REVENUES OF OVER EUR 235 MILLION AND
BREAK-EVEN
POINT
    * OUTLOOK 2028: REVENUES OF OVER EUR 850 MILLION AND AN
ADJUSTED
EBITDA MARGIN OF 15%

Source text for Eikon:  ID:nBw20rxXla 
Further company coverage:  FORSE.PA 

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