Vergnet SA unveils its 2024 half-year results

Renewable energy specialist Groupe Vergnet has published its results for the first half of 2024. Revenues amounted to €6.6 million, down from the previous year, as a result of the shutdown of the Agadez project. Cost-cutting efforts helped improve operating income to -€1.3 million, compared to -€4.1 million in 2023.

The net result shows a loss of 1.8 million euros, reduced compared to the 6.2 million losses in 2023. Net cash stands at 2.4 million euros while financial debt reaches 4.7 million euros.

The group has entered into a convertible bond issue contract with ATLAS CAPITAL MARKETS to strengthen its cash position. A capital reduction is planned, decreasing the nominal value of the share without affecting the stock market value.