Desert Control Releases Q3 2024 Report and Year-to-Date Company Update

Operational Highlights:

Solid Pilot Results Strengthen Validation and Support Negotiations for Larger Contracts in the United States

First Licensing Royalties from the Middle East

R&D and Technology Advancements Strengthen Delivery Capabilities for Current and Future Pipeline

Financial Highlights:

In the first nine months of 2024, Desert Control reached a record number of installations, increased LNC deployment volumes, and more than doubled LNC revenue compared to the previous year. These achievements highlight enhanced operational efficiency driven by the new prototype LNC production system, streamlined integration with irrigation systems, and insights gained from pilots and prior projects.

The growth in project volume and LNC deployment, combined with improved EBITDA figures, underscores the enhanced efficiency of operations. The ability to handle larger volumes at a reduced cost base positions Desert Control to maintain healthy margins as the company scales up.

Outlook:

With solid progress in the U.S. and Middle East, Desert Control is positioned to transition pilot projects into larger contracts and expand LNC adoption. The upcoming readiness of the next-generation LNC production system and strengthened R&D partnerships underscore the company's commitment to scalable, sustainable solutions for soil health and water conservation globally.

Key Figures (in MNOK): 

First nine months 2024 [first nine months 2023 in brackets]

Third quarter 2024 [third quarter 2023 in brackets]

Total cash balance 30.09.24 (bank deposits and funds): 75 [35]

Equity 30.09.24: 86.3 (equity ratio 95.4%) [52.5 (60.0%)]

Q3 Report 2024: 

Cautionary Note:

Disclaimer related to forward-looking statements. This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates.

Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements.

No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements.

For more information, please contact:
Ole Kristian Sivertsen
President and Group CEO
Email: [email protected]
Mobile (NOR): +47 957 77 777
Mobile (USA): +1 650 643 6136

Leonard Chaparian
Chief Financial Officer
Email: [email protected]
Mobile (NOR): +47 90 66 55 40

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https://news.cision.com/desert-control-as/r/desert-control-releases-q3-2024-report-and-year-to-date-company-update,c4066565

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