on AMA Corporation (EPA:ALAMA)
AMA: 2024 First-Half Earnings
AMA CORPORATION PLC has reported its unaudited consolidated sales for the first half of 2024. Sales amounted to €1.3 million, down 22% from the same period in 2023. The company is navigating challenging market conditions and has initiated a significant transformation of its offerings and organization.
AMA's strategic plan, launched in the spring, focuses on integrating artificial intelligence into its operations. Their flagship solution, XpertEye, now includes advanced features like Data Locker API and AI Report, and will soon incorporate computer vision capabilities. This initiative aims to explore new opportunities in the assisted reality market and drive growth.
To support this transformation, main shareholder Guillemot Brothers SAS allocated €4 million in June 2024, bringing AMA’s gross cash position to €9.2 million. Management changes, led by new CEO Etienne Guillemot, are set to revitalize the company. The strategic plan is expected to yield annual savings of at least €2 million.
R. P.
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