Fiscal 2024 was a record year for revenue, order intake, and EBITDA
September 19, 2024 7:01 AM EDT | Source: Thermal Energy International Inc.
Ottawa, Ontario--(Newsfile Corp. - September 19, 2024) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, today reported its financial results for the fourth quarter and year ended May 31, 2024. All figures are in Canadian dollars.

Highlights:

(Comparisons are on a year-over-year basis)

Revenue: $25.9 million (up 23%) for the year, $7.5 million (down 8%) for the quarter.
Gross profit: $12.5 million (up 30%) for the year, $3.1 million (down 18%) for the quarter.
EBITDAi: $2.0 million (up 15%) for the year, $0.4 million (down 64%) for the quarter.
Net income: $1.0 million (up 36%) for the year, $0.3 million (down 70%) for the quarter.
Order intake: $29.5 million (up 8%) for the year, including $5.1 million in the quarter.
Order backlogii was $18.7 million as at May 31, 2024, up 43% compared to last year, and $21.3 million as at September 18, 2024.
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