Foraco International ( (TSE:FAR) ) has provided an announcement.
Foraco International reported a decrease in revenue for Q4 2024 to US$60.8 million from US$86.6 million in the same quarter of the previous year, reflecting challenges such as a decline in junior mining activities, strategic exits from Russia, and unfavorable foreign exchange rates. Despite these challenges, the company maintained operational resilience through workforce optimization and cost control measures, achieving an EBITDA margin of 22.7% for the year excluding one-off items. The company reduced its net debt to US$60.9 million and maintained stable net profit attributable to equity holders. While facing a slower start expected for 2025 due to delayed order confirmations, Foraco remains focused on strengthening operational efficiency and servicing top-tier customers.
More about Foraco International
Foraco International SA is a leading global provider of drilling services. The company is primarily focused on the mining industry, offering a range of drilling services across various jurisdictions, with a strong market presence in North America and Australia.
YTD Price Performance: -6.67%
Average Trading Volume: 51,528
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$221.7M
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