Water Alliance member NX Filtration N.V. (Euronext Amsterdam: NXFIL), the global provider of breakthrough direct nanofiltration (dNF) technology for pure and affordable water with strong sustainability benefits, today reports its condensed interim consolidated financial statements for the six months ended 30 June 2022.
Half year 2022 highlights
o Total revenues1 of €3.7m, an increase of 188% compared to the first half year of 2021
o Expanding global footprint; 63% of revenues from sale of goods outside Europe, and new sales presence established in France, Germany, China, Japan and Indonesia
o Successful conversions of pilots to full-scale projects, amongst others for Aquarius H2O Dynamics (India), BI Pure Water (Canada), Cross Textile (Turkey), Delco Water (Canada), Ecoazur (Mexico), Ekopak (Belgium), Envirogen (UK), Practical Water Solutions (South Africa) and PT Bayu (Indonesia)
o Accelerating on three key strategic fronts:
- Upsized design of our new megafactory: higher initial capacity and more space for future capacity additions
- Pre-empting the expansion of our fleet of pilot systems, on-track to exceed previous guidance of more than 140 systems by the end of 2022
- Ahead-of-the-curve expansion of our organization, with successful hires of strong industry leaders, amongst whom the former Chairman of Hydranautics, the former Head of Inge (DuPont Water Solutions) China, the former Commercial Director of LG Water Solutions and the former Global Technology Leader Equipment & Systems of Suez
o Strong ESG profile and impact underpinned by recently obtained Sustainalytics rating, ranked best 13% of our global subindustry peer group
o Reiteration of outlook on total revenues of €8m to €10m for full year 2022, driven by strong market demand, further roll-out of full-scale projects and our expanding global sales presence
Michiel Staatsen, CEO of NX Filtration, states:
“In the first half year of 2022 NX Filtration created strong impact on many fronts. We increased our revenues by 188%, successfully converted many pilot projects into full-scale projects,
1 Total revenues (defined as Gross income in the Semi-Annual Report) includes revenues from sale of goods in the Clean Municipal Water and Sustainable Industrial water business lines and other income
increasingly benefitted from repeat projects, attracted strong new talent to our company and, most importantly, realized real and measurable ESG impact through our mission of clean and affordable water for all. I am particularly proud that Recolab Sweden, to which we supplied our dNF technology, was awarded by Global Water Intelligence as wastewater project of the year 2022.
Encouraged by strong traction in the market and increasing market opportunities, we decided to accelerate our strategic expansion on three key fronts. We upsized the design of our new megafactory to create flexibility to deliver larger volumes ahead of schedule. We also pre-empted the expansion of our fleet of pilot systems to facilitate the strong and growing demand in the market. We are well on-track to exceed our previous guidance of more than 140 pilot systems by the end of 2022. These pilots are an important step in our commercial roll-out strategy and provide the basis for our anticipated strong revenue growth. Finally, we successfully strengthened our organization with various high-profile industry leaders in commercial and technical roles. Being able to attract such personnel is a great testimony to the breakthrough technology we provide, the impact we make with our products and the great place to work we offer to our employees.”
Source: NX Filtration
