20:12 30 November 2023
Creotech posts PLN 33.2 mln revenue after Q3, secured financing for more projects
Creotech Instruments reported Q3 2023 results, achieving PLN 33.2 million in total revenue, a 45% y/y increase, with PLN 22.5 million from product sales, up 64%. The company's EBITDA was -PLN 4.4 million due to development costs. Cash reserves on September 30 were PLN 24.7 million, expected to rise significantly in Q4 from a successful public offering. Creotech aims to be a leading microsatellite technology provider in the EU, emphasizing the commercialization of its HyperSat platform.
The strategy involves expanding the product portfolio, increasing production capacity, and reinforcing sales. Notable projects include National Defense initiatives and leading the satellite segment in the REACTS program. The public offering's proceeds, approximately PLN 60 million gross, will fund necessary investments for significant project involvement.
Source: strefainwestorow.pl
