Ecofibre Ltd. (AU:EOF) has released an update.
Ecofibre Limited reported a cash reserve of $6.7 million as of June 30, 2024, with a decrease in 4Q24 revenue by 5% from the previous quarter, amidst ongoing efforts to achieve positive operating cash flows and reduce financial risk. The company announced key business restructurings, including the appointment of Ulrich Tombuelt as CEO and the extension of significant loan repayments. Despite facing challenges, Ecofibre’s business units show a positive EBITDA trend, with committed capital investments aimed at completing new infrastructure in the upcoming quarters.
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