Auga Group AB has released its audited financial results for 2024, revealing a net loss of EUR 32.4 million, compared to the unaudited net loss of EUR 26.9 million announced earlier. The difference of EUR 5.6 million is primarily attributed to an impairment of intangible assets under development, as the Group decided to suspend the development and expansion of certain technologies due to uncertainty. The Group's revenue for 2024 reached EUR 85.4 million, an increase from EUR 77.4 million in 2023. However, the Group reported a significantly worse result in its crop production and biomethane segment, which suffered a loss of EUR 10.5 million against a forecasted profit of EUR 2.6 million. The mushroom growing segment also underperformed, with a gross profit of EUR 1.59 million compared to the forecast of EUR 2.2 million. Operating expenses were higher than planned at EUR 12 million, although they were lower than the EUR 14 million incurred in 2023. Conversely, the dairy segment exceeded expectations with a result of EUR 5.12 million, compared to a planned EUR 2 million. Despite the challenges, the Group's EBITDA decline was partially offset by this positive outcome in the dairy segment. No specific outlook or guidance for future periods was provided in the report.
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