NEWS
Heramba Electric Reports 2023 Financial Results
▪️Revenues increased by 27.6% to €152.8 million, with significant growth in North America (57.5%) and Europe (24.7%).
▪️Revenues increased by 27.6% to €152.8 million, with significant growth in North America (57.5%) and Europe (24.7%).
▪️The company achieved net income of €407k, a substantial improvement from a €21 million loss in 2022.
▪️Kiepe Electric ended 2023 with a record order backlog of €573.0 million
▪️Strong cash position of €32.5 million with no debt.
▪️Heramba Electric, formed through the acquisition of Kiepe Electric and a business combination with PERAC, aims to become a global leader in sustainable urban transportation.
▪️The company will host an investor call on August 7, 2024, to discuss these results and provide a 2024 operational update.
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