Business
Final Results
Final Results.
About this update from Getech Group Plc
[{"type":"text","content":"\n\n06 May 2025\n\nGetech Group plc\n(\"Getech\" or the \"Company\")\nFinal Results\nGetech (AIM: GTC), a world-leading locator of subsurface resources, is pleased to announce its Final Results for the 12 months ended 31 December 2024.\nFinancial highlights\n· Revenue up 16% to £4.7 million (2023: £4.0 million)\n· Annually Recurring Revenue increased to £2.9 million (2023: £2.8 million)\n· EBITDA loss decreased significantly to -£0.56 million (2023: -£2.7 million)\n· Cash at bank increased to £0.9 million (2023: £0.4 million)\n· Sale of Kitson House in January 2024 for £0.65 million\n· Raised gross proceeds of £1.7 million in August 2024 from new and existing shareholders to enhance working capital position and invest in our sales team.\nOperational highlights\n· Invested in advancing the Group's services and solutions, including extending the capabilities of the Globe exploration platform, enhancing key software products (Exploration Analyst, Unconventionals Analyst and Data Assistant) and evolving AI capabilities to maintain our leadership in machine learning-enabled subsurface resource exploration.\n· Revenues from Petroleum sector grew by 16% while revenues from all other sectors grew by 14%, when compared to 2023.\n· Strategic Natural Hydrogen agreements with Sound Energy plc (\"Sound Energy\") to pursue natural hydrogen accumulations in Morocco and Kingfisher in North America.\n· Established new business partnerships with Natural Hydrogen Ventures, RED Engineering and Expro. \n· New Mining sector contract wins with Sandfire Resources Ltd (\"Sandfire\") and East Star Resources plc (\"East Star\"), supporting copper exploration.\n· Won new and repeat Expert Services projects across multiple geoenergy sectors.\nFY 2025 current trading\n· Appointment of Chris Jepps as CEO (previously COO) in January 2025.\n· Sale and leaseback of Nicholson House in February 2025 for £0.725 million which, when coupled with...