2023 annual results for OSMOSUN: growth investments despite project delays

OSMOSUN presented its annual results for 2023, indicating a turnover of €3.0 million, down 34.7% compared to the previous year. This decrease reflects delays in the deployment of major contracts. Despite this, the group shows a significant strengthening of its teams, an improvement in its net cash flow to €4.8 million and a more solid financial structure thanks to the IPO.

The company also changed its financial outlook for 2025-2027, now postponed to 2026-2028, due to longer decision cycles for awarding major projects. The investments made by the company weigh on the short term but are supposed to promote future growth, in particular with several partnerships in key geographical areas such as Africa and Asia-Pacific, in addition to new collaborations, notably in Morocco with the PCS group.

Quentin Ragetly, CEO, remains optimistic for the firm's future growth, despite economic challenges which are slowing down the completion of large-scale projects. The group is therefore focusing on strategies to increase its portfolio of minority and major contracts, revealing significant potential turnover for the years to come.