Tekna reports significant progress despite a challenging market in 2024 Annual Report
Tekna Holding ASA, Sherbrooke, Quebec, Canada, has released its 2024 Annual Report, including the company’s 2024 Sustainability Report.
“As we conclude the year, Tekna has made significant progress despite a challenging market, driven by resilience and adaptability,” stated Luc Dionne, CEO. “Key achievements include improving cash flow from operations through effective management of working capital and a favourable litigation settlement.
“We focused on continuous improvement, executing cost-reduction initiatives, and restructuring the management team to boost transparency and performance. Our Systems product line maintained strong efficiency and margins despite a revenue drop, while Materials saw growth in medical, aerospace, and consumer electronics. We entered the new year with confidence, healthy and with an improving backlog for Materials and good prospects for Systems.”
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Revenue
The cash balance was noted as having improved by CAD 4.8 million compared to the last quarter; net working capital improved by CAD 5.1 million year on year and CAD 2.7 million compared to the last quarter.
Low machine revenues had EBITDA effect of negative CAD 1.6 million in the quarter, compared to same quarter last year. In 2024, the EBITDA effect of lower machine revenues was negative CAD 2.9 million compared to 2023.
Sustainability
“At Tekna, we remain committed to sustainability and are proud to share that our energy intensity per kilogram produced has improved to 12.1 kWh/kg (12.4), down from 16.3 kWh/kg in the 2019 baseline,” Dionne explained. “For the first time, we have completed a comprehensive greenhouse gas assessment, which includes all material scope 3 emissions. This assessment provides us with valuable insights to prioritise our reduction efforts moving forward. Our goal to reduce scope 1 and 2 emissions by 50% by 2030 remains firmly in place. Our vision is to advance the world with sustainable material solutions, one particle at a time.”
Read the company’s Annual Report here.
