Aera Group announces its results for the 3rd quarter of 2023.17 October 2023
Paris – October 17th, 2023 – Aera today published its interim financial results as of September 30, 2023. Revenue for the third quarter of fiscal year 2023 amounted to 3.6 million euros. Over the first nine months of the year, revenue is up by 3% compared to the 2022 average, to reach 17.6 million euros. Net profit after tax amounted to 1.1 million euros during the 3rd quarter and 2.8 million euros for the first nine months of the year.
Q3 2023 Highlights
Aera delivered 0.7 million carbon credits (11 projects) from Jul 1st to Sep 30. This brings the total volume delivered in 2023 so far to 3.2 million carbon credits compared to a 2022 average for 9 months of 2.6 million carbon credits. A few other issuances are expected by end of the year and all the processes are being monitored closely to ensure timely completion.
Aera closed 7 sales contracts during Q3 2023 for a volume of around 2 million carbon credits despite a difficult market context and general adverse macroeconomic conditions.
Revenue generated during the first nine months of the year remains stable despite a constant fall in prices since last year. Deliveries expected before the end of the year should significantly increase the income level. A portion of revenue has been deferred and will be recognized upon achievement of certain milestones.
Year to date net profit at September 30 stands at € 2.8 million compared to a 2022 average for nine months of € 3.7 million. Carbon credits received but not yet delivered to clients by the end of the third quarter will increase profitability once the sales transactions are finalized.