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ESGL Holdings Limited (NASDAQ: ESGL), formerly known as Environmental Solutions Group Holdings Ltd, is a pioneer in the sustainable waste management, treatment, and recycling sector. Headquartered in Singapore, the company specializes in the collection and recycling of industrial waste from various sectors including pharmaceutical, semiconductor, petrochemical, and electroplating companies.
The company’s core business revolves around transforming industrial waste into reusable, circular products using innovative technologies and renewable energy. ESGL has made significant strides in the industry with its focus on converting hazardous and non-hazardous waste into valuable resources.
In the first half of 2023, ESGL reported a revenue of $3.4 million, marking a 14.1% increase from the previous year. This growth was driven primarily by a substantial increase in waste management revenue, rising by $1.2 million year-over-year. Despite a decline in sales of circular products by $0.7 million, the company managed to improve its gross margin to 64.7%, up from 58.4% in the same period of 2022, thanks to optimized logistics and operational efficiencies.
ESGL’s commitment to sustainability is evident through its proactive capacity expansion and margin optimization efforts. The company achieved a non-GAAP EBITDA of $0.8 million in the first half of 2023, demonstrating improved profitability. In the latter half of the year, significant milestones included the completion of its NASDAQ listing, enhancing its visibility and potential for regional expansion.
Notable projects include the renewal of a multi-year contract with Singapore Refining Company Private Limited (SRC) and the establishment of ESG Chemicals Sdn Bhd in Malaysia, aimed at expanding the company’s reach in the ASEAN region. Additionally, ESGL has entered into a partnership with Sentosa Clay Products Sdn Bhd to produce sustainable building materials using its circular product NEWSPAR.
As of December 31, 2023, ESGL had $0.4 million in cash and cash equivalents. The company’s strategic financial maneuvers, including a $2.5 million private placement in April 2024, position it well for future growth. ESGL aims for continued double-digit revenue growth and improved capital efficiency, with a target to break even on a net basis by the end of 2024.
ESGL Holdings Limited remains dedicated to advancing its mission of sustainability and innovation in waste management, contributing significantly to reducing carbon footprints and promoting environmental stewardship in Southeast Asia and beyond.
ESGL Holdings (NASDAQ: ESGL), a carbon-neutral enviro-tech company, has announced signing a definitive share purchase agreement to acquire De Tomaso Automobili Holdings , a luxury automotive manufacturer. The acquisition will be executed through the issuance of new ESGL ordinary shares.
The strategic merger, expected to close in Q2 2025, aims to:
- Strengthen financial positioning of both entities
- Unlock long-term investor value
- Accelerate growth opportunities
- Foster collaboration and innovation
- Drive international market expansion
The transaction has received unanimous approval from both companies' directors. De Tomaso Automobili CEO Norman Choi highlighted the potential to enhance vehicle production through ESGL's low-impact manufacturing expertise, while ESGL CEO Quek Leng Chuang emphasized the partnership's role in portfolio diversification and creating new revenue streams.
ESGL Holdings (NASDAQ: ESGL), a leading carbon-neutral enviro-tech company, announced that its Executive Director, Lawrence Beng Hui, Law, has acquired 1,126,000 ordinary shares of the Company. The shares were purchased through privately negotiated block trades and open-market purchases at an average price of US$1.88 per share.
This acquisition increases Mr. Law's ownership stake in ESGL from 1.3% to 4.1%. Mr. Law expressed confidence in ESGL's strategy and progress in advancing sustainable technologies, emphasizing the company's expansion into new markets.
ESGL reaffirmed its commitment to creating shareholder value while maintaining a strong focus on environmental sustainability. The company continues to leverage technology and innovation, prioritize customer-centricity, and enhance overall business operations management.
ESGL Holdings (NASDAQ: ESGL) reported its financial results for the first half of 2024, marking a significant milestone as its operating subsidiary achieved its first profitable half-year. Key highlights include:
- Revenue growth of 2.8% to US$3.49 million
- 45.3% reduction in loss before taxation to US$322,000
- 66.6% decrease in logistics costs, saving US$527,000
Segment performance varied, with Solid Waste Thermal Processing Solutions growing by 8.15%, while Liquid Waste Synthesis Solutions and Circular Products Sales faced challenges. The company remains optimistic about the second half of 2024, focusing on expanding its customer base and regaining waste volume while maintaining operational efficiency.
CEO Quek Leng Chuang expressed pride in the subsidiary's profitability and confidence in driving sustained growth across core segments.
ESGL Holdings (NASDAQ: ESGL) and STMicroelectronics (ST) have achieved a groundbreaking milestone in sustainability by creating the world's first sustainable bricks made from semiconductor waste. This innovative product, named NEWSPAR, is regenerated from Hydrofluoric wastewater sludge and Hydrofluoric Acid.
ESGL's cutting-edge technology has successfully transformed ST's hazardous semiconductor waste into a safe and sustainable resource. The resulting bricks are not only environmentally friendly but also highly durable and suitable for various construction applications. This achievement is expected to drive substantial decarbonization across multiple supply chains and reinforce the global shift toward a circular economy.
The collaboration between ESGL and ST demonstrates the potential for waste reutilization in critical industries. Both companies' leadership have enthusiastically endorsed the partnership, highlighting its significance in accelerating sustainability efforts and creating value from industrial waste.
ESGL Holdings reported a 23.5% increase in revenue to $6.2 million in 2023, driven by higher waste volumes. Gross margin improved from 64.3% to 69.1%. Adjusted EBITDA decreased by 15.7% due to non-recurring items. Net loss was approximately $95 million, primarily from listing costs. The company aims for double-digit revenue growth and breakeven results by the end of 2024.
ESGL Holdings (NASDAQ: ESGL) announced it will host a conference call to discuss full year 2023 results on May 10, 2024. The Company expects double-digit revenue growth for 2023, showing significant expansion in capacity. Management plans to share strategies for continued growth and improved profitability in 2024.
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