Otovo’s forth quarter results for 2024 are released today. Here are the highlights:
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Cost cuts complete Cut 111 FTEs in Q4, bringing total headcount reduction to 208 since Q1 24, and reduced Opex below NOKm 100.
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Portfolio sale complete European subscription portfolio sold, freeing up NOKm 155.
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Solid for 2025-26 Lower cost, strengthened liquidity and improved cash flow structure.
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Battery sales in progress Batteries included in 65% of customer contracts, a new record high and a new growth vector.
Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 February 24th.