Creturner Group - Q1 2024 : Liabilities are managed. Positive cash flow. Positive EBITA

1 January - 31 March 2024
Figures in brackets are comparative figures for the same period in 2023
 
First quarter 2024 Group
- DIGITAL. The business is affected by a technical problem, which has slowed down sales. It is expected to be fixed shortly, this has slowed the quarter's expansion, the pace is expected to increase in Q2-Q3
- ENVIRONMENT. Great interest nationally and internationally. New partnerships are being negotiated. The company is engaging ambassadors to get the message out. The company is in dialogue with stakeholders to increase sales.
This is a long-term endeavour, where we are aiming for major agreements.
- TECHNOLOGY. Development is progressing according to plan for Co2 decomposition technology. A new extended patent application is planned.
- CASH. Liquidity is secured with financing agreements
- INDEBTEDNESS. The company has significantly reduced its external interest-bearing debt, which is reflected in Q2.
- OWNERSHIP. 10 largest shareholders have 54% of the company
 
- Net sales amounted to 2.3 (5) MSEK
- Operating result amounts to -5.0 MSEK (-4.3) MSEK
· EBITA amounts to 0,7 MSEK (2.8) MSEK
- Cash flow from operations amounts to 1.8 MSEK (-1.3) MSEK
 
Contact details
For further information please contact:
Daniel Moström, COB +46-70-744 69 01 daniel.mostrom@creturner.com
Address: Taptogatan 6, 115 27 STOCKHOLM, Sweden
www.creturner.com
Creturner Group AB (publ) org: 559152-3013


About Creturner Group
Creturner Group AB is a group with two business areas within environmental technology.
The digital part is a technical computing business that is expanding to strengthen its long-term potential and create a presence in the rapidly growing market for computing capacity. The company has its own facilities in Sweden with its own energy production to reduce raw material costs and environmental impact.
The environmental technology part offers corporate customers an efficient and permanent method to carbon offset their operations. The method is based on CDR (Carbon Dioxide Removal), which involves converting residual biomass into the element carbon and depositing it to reduce the amount of CO2 in the atmosphere. Creturner's corporate customers can then purchase carbon offsets in the same way as traditional carbon offsets such as tree planting. Unlike tree planting, Creturner's method is immediate, permanent, and clearly measurable.