Otovo AS Class A ( (DE:89K) ) just unveiled an announcement.
Otovo AS Class A has reported a significant turnaround in its financial performance, marked by a 30% increase in order intake and a 27% rise in backlog, despite a 13% decline in revenue. The company has improved its cash flow and strengthened its cash buffer to over NOK 200 million, thanks to a new leasing structure and cost-cutting measures. Marketing and personnel costs have been reduced by 39% and 41%, respectively, contributing to enhanced operational efficiency. The company is optimistic about future growth, driven by consumer interest in solar and battery solutions, and aims to achieve profitability by leveraging these improvements.
More about Otovo AS Class A
Otovo is a marketplace for homeowners seeking solar panels and home batteries, organizing local, high-quality energy installers. The company leverages proprietary technology to assess home potential and finds optimal pricing and installers through an automated bidding process.
YTD Price Performance: 120.0%
Technical Sentiment Signal: Hold
Current Market Cap: €40.34M
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