Business
Interim Results
Interim Results.
About this update from Forgent Plc
[{"type":"text","content":"\n\n \n29 September 2025\n \nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \nInterim Results for the six months ended 30 June 2025\n \nEQTEC plc (AIM: EQT), a leading licensor and innovator of proprietary syngas technology for clean conversion of the world's waste into sustainable energy and biofuels, announces a trading update and its unaudited, interim results for the six months ended 30 June 2025 (\"H1 2025\").\n \nFinancial highlights\n \n· Revenue: €0.6 million (H1 2024: €1.4 million).\n· Gross profit €0.5 million (H1 2024: €0.8 million)\n· Gross margin improvement to 82% (FY 2024: 53%) underpinned by a shift toward high-margin IP-rich services and a departure from high-risk development activities.\n· EBITDA loss: €1.1 million (H1 2024: €1.6 million)\n· Capital raise of £1.5 million (€1.7 million) through the placing of new shares at a premium to Compact WTL Tech Limited (\"CWTL\"), a strategic investor.\n· Post-period annualised payroll costs in the Spanish subsidiary will be reduced by c.60% as a result of the rationalisation of its operations.\n· Post-period, £0.25 million (€0.3 million) equity investment raised in August 2025 through the placing of new shares to CWTL at a premium.\n· The net loss, including a provision for further impairment of assets of €0.32m, was €2.07 million (H1 2024: €3.2 million), which included €0.6 million of debt servicing and other financing costs (H1 2024: €1.5 million).\n \nCommercial and Operational Highlights, including post-period end\n \n· Completed cold and hot commissioning at the AgriGas plant in Larissa in August, with final enhancements on pellet line completed in September. Secured revenues, signed a maintenance support contract, and hosted investor visits.\n· Advanced €320,000 in shareholder loans to Italia MDC but ceased unilateral support, leading to suspended repayments and remedial works. Agreed with Quainstone on a controlling investment and debt restructuring, while further impairing EQTEC's equity by the same amount in order to maintain the 31 December 2024 previously impaired ca...