CDT Environmental reports FY24 revenue $29.8M vs. $34.2M last year

Li Yunwu, CEO of CDT, stated “The economic challenges in China and delays in certain projects that we detailed in our interim report for 2024, persisted in the second half of the year, resulting in a 13% year-over-year decrease in revenue. However, we achieved a 440-basis point expansion in margin compared to last year due to continued cost-saving efforts and benefits from our 2024 restructuring actions. We are serving our customers more effectively and seeing a reduction in wasted time and effort internally, enabling our colleagues to move faster, with more focus and accountability. Despite current market volatility, we anticipate continued resilience in volumes, supported by the essential nature of our customers’ services. We also continued to invest in identifying breakthrough innovation opportunities that could create new revenue streams, while continuing to win and seek new projects in our core business and enhancing our sales and service expertise. These efforts aim to further strengthen CDT’s competitive position, enhance our customer value proposition, and create new growth opportunities for the future. We have successfully navigated economic cycles several times and we are confident that our strong execution capabilities will help us overcome future challenges and position us strongly for emerging market opportunities. Overall, CDT’s business fundamentals are stable, and we expect the actions we implemented in 2024, along with our continued long-term investments in our team and businesses, will deliver exceptional total value to customers and improving returns for shareholders in 2025 and beyond.”