Aera Group Reports First Half Year 2022 Interim Results26 July 2022
Paris – July 28, 2022 – Aera today announced its interim financial results for the first half fiscal year ended June 30, 2022. The company posted a semestrial record revenue of €13.3 million, up 122 percent year-on-year, and a benefit of €2.9 million.
Q1 and Q2 highlights
- Aera delivered 1.3 million tCO2 from Jan 1st to June, 30. This is twice less than expected due to an unprecedent backlog from the international registries in the carbon credits issuance process. The time for issuance from registries has increased in such magnitude that volume issued at a global scale has been slashed down by four in 2022. However, the target for Aera is still to deliver close to 10 million tCO2 by year end. Most of the deliveries delayed are now expected to occur on the second half of the year.
- Aera closed 64 transactions, mostly OTC, on a spot and forward basis and sold 5.1 million tCO2 during the first half of 2022. Commercial activity remained strong with the demand support from the oil & gas industry as well as the energy and the financial sectors and carbon aggregators.
- Sales outside continental Europe have peaked and Aera is now well placed to strike larger deals in UK, Australia, Canada and USA (together more than 70% of book order).
- The book order of Aera has a total secured gross margin till 2030 standing at €38 million. The potential gross margin based on the volume to be sold is estimated at €161 million.