Business
Enterprise Group Announces Results for the Fourth Quarter and Full Year 2024
St. Albert, Alberta--(Newsfile Corp. - March 20, 2025) - Enterprise Group, Inc. (TSX: E) (OTCQB: ...
About this update from Enterprise Group, Inc.
[{"type":"text","content":"Enterprise Group Announces Results for the Fourth Quarter and Full Year 2024St. Albert, Alberta--(Newsfile Corp. - March 20, 2025) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the \"Company\" or \"Enterprise\"). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource clients, is pleased to announce its Q4 2024 and FY2024 results.Enterprise Group - CEO & Chairman, Leonard Jaroszuk comments: \"In Q4 of 2024, the company's activities were lower than initially anticipated, falling short of expectations. However, as we transitioned into 2025, we have experienced a significant recovery in our operations, with activity levels showing a marked improvement compared to the previous quarter. This resurgence has positioned the company well for the future. Additionally, with solid financial standing and a well-capitalized balance sheet, the company is now strategically equipped to explore expansion into the mining sector, presenting exciting opportunities for growth in the coming year.\"Three months December 31, 2024Three months December 31,2023Year ended December 31, 2024Year ended December 31, 2023Revenue$7,812,010$9,598,945$34,646,888$33,500,501Gross margin$2,825,43136%$4,844,19450%$15,561,42745%$15,501,96946%Adjusted EBITDA(1)$2,272,45529%$4,374,73546%$13,069,86738%$13,285,88040%Net income and comprehensive income$673,207$2,255,159$4,543,553$6,169,904Income per share - Basic $0.01$0.05$0.07$0.12Income per share - Diluted$0.01$0.04$0.07$0.12(1) Identified and defined under \"Non-IFRS Measures\". During the year, the Company made notable strides to advance its strategy to expand its market presence and to solidify its position as a leader in mobile natural gas power systems. On September 26, 2024, the Company announced a five-year exclusivity agreement with FlexEnergy Solutions, a globally recognized leader in turbine and microturbine power generation equipment. The agreement positions the Company as the exclusive provider of short-term turbine and microturbine applications across all commercial and industrial sectors in Alberta and British Columbia. Additionally, on December 5, 2024, the Company raised ca...