Q4 from 01-10-2023 to 31-12-2023 (01-10-2022 to 31-12-2022), FY from 01-01-2023 to 31-12-2023 (01-01-2022 to 31-12-2022)
The report can be found here:https://cleanindustrysolutions.com/en/investor-relations/financial-reports/
Comments from the CEO Christian Zahler
Unfortunately, the fourth quarter of 2023 was not a continuation of the achievements that we were able to share during the first three quarters of the year. It is with profound sadness that I must confirm that Industrial Solar had to stop operations at the end of February due to insolvency.
This is undoubtedly a moment of profound regret for all of us who have poured our dedication, passion, and hard work into the success of the company. To our colleagues at Industrial Solar, I want to express my deepest gratitude for their unwavering dedication, creativity, and hard work. Each one of them has played an integral role in the journey of the company, and their commitment has been nothing short of inspiring. It is sad but true that circumstances beyond our control have led us to this point. However, let us not forget the incredible achievements Industrial Solar brought to the solar thermal world.
We must now navigate through uncharted waters and do so with a collective spirit of support and understanding.
The happier we are that SolarSpring is currently experiencing increasing interest in membrane distillation pilot systems from a variety of industries and research centers. Besides high-purity water production for hydrogen electrolysers, the removal of ammonia from wastewater for further use and the volume reduction of highly saline effluents are the most commonly requested applications.
As communicated in late December, Denmark's Aalborg University (AAU) purchased a membrane distillation pilot system from SolarSpring GmbH with a nominal capacity of 100 l of highly pure water per hour to be used in conjunction with the generation of green hydrogen as well as other applications.
Financially, the upward trend of the group continued in Q4 2023: On a year-to-year basis, the growth of total operating income compared to last year is +47.5% (without income from shares in group companies, +87.9% including it).
Due to the insolvency of Industrial Solar GmbH, its balance sheet is no longer consolidated and its income statement is only consolidated up to the beginning of the insolvency. Although the profit from the corresponding consolidation entries must be eliminated by adding them as "Income from shares in group companies" (18.4 MSEK), the operating income still amounts to 28.0 MSEK and thus reaches a new high.
This disclosure contains information that Clean Industry Solutions Holding Europe is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-03-2024 08:45 CET.