share_log

6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  May 14 04:22
Summary by Futu AI
ESGL Holdings Limited, a sustainable waste solutions provider, announced its full-year financial results for 2023 on May 10, 2024. The company reported a significant revenue increase of 23.5% to $6.2 million, driven by higher waste volumes. Gross margin also improved from 64.3% to 69.1%. However, the company faced a net loss of approximately $95 million, largely due to non-recurring listing costs, compared to a $2.4 million loss in 2022. Adjusted EBITDA decreased by 15.7% to just under $1.0 million. Despite these challenges, ESGL is optimistic about 2024, providing guidance for revenue growth between 23% and 53% and expecting to achieve breakeven results on a net basis by year-end. The company also highlighted operational achievements, including doubling its G2 Thermal System Capacity and optimizing its M4 Liquid Chemical Waste Synthesis Capacity. ESGL began trading on the Nasdaq Stock Market on August 4, 2023, following a successful business combination, and has expanded into Malaysia to leverage cost efficiencies. The company's focus remains on upcycling industrial waste into circular products and it has secured $8 million in bookings for 2024 as of March 31, 2024.
ESGL Holdings Limited, a sustainable waste solutions provider, announced its full-year financial results for 2023 on May 10, 2024. The company reported a significant revenue increase of 23.5% to $6.2 million, driven by higher waste volumes. Gross margin also improved from 64.3% to 69.1%. However, the company faced a net loss of approximately $95 million, largely due to non-recurring listing costs, compared to a $2.4 million loss in 2022. Adjusted EBITDA decreased by 15.7% to just under $1.0 million. Despite these challenges, ESGL is optimistic about 2024, providing guidance for revenue growth between 23% and 53% and expecting to achieve breakeven results on a net basis by year-end. The company also highlighted operational achievements, including doubling its G2 Thermal System Capacity and optimizing its M4 Liquid Chemical Waste Synthesis Capacity. ESGL began trading on the Nasdaq Stock Market on August 4, 2023, following a successful business combination, and has expanded into Malaysia to leverage cost efficiencies. The company's focus remains on upcycling industrial waste into circular products and it has secured $8 million in bookings for 2024 as of March 31, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.