Aera Group Reports Q3 2022 Interim Results25 October 2022
Paris – October 25, 2022 – Aera today announced its interim financial results for Q3 2022, 9 months ended 30 September 2022. The company published a revenue of €15.9 million, up by 49% compared to the same period in 2021, and a net profit of €3.4 million.
Q3 year to date highlights
- Aera delivered 2.2 million tCO2 from Jan 1st to Sep 30. This is less than expected due to a backlog from the international registries in the carbon credits issuance process. However, an encouraging response is noted from the registries since the beginning of Q4 with some credits being issued already and more in the pipeline before end of 2022.
- Aera closed 81 transactions and sold 6 million tCO2 during the first nine months 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.
- Increase in Turnover compared to the same period last year is the result of a sustained commercial effort from the Sales team through several roadshows organised in London and Amsterdam and great ability to meet the needs of clients in various countries.
- Earnings before tax has doubled compared to Q3 2021 and is a significant achievement. This is due to Aera Group’s ability to foresee and invest in many projects from scratch which eventually lead to purchasing carbon credits at competitive prices. With the company’s exceptional operating model, operating and administrative costs remains fairly stable.