- Thermal Energy (TMG) announced record order intake figures for the six months ending November 30th, 2022
- As of the close of the second quarter, order intake for the year-to-date period stood at $18.1 million
- This exceeds the order intake at the same point in each of the previous five fiscal years by at least 90 per cent
- Thermal Energy supplies proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors
- Thermal Energy International Inc. (TMG) is up 4.55 per cent, trading at C$0.115 per share at 3:30 pm ET
Thermal Energy (TMG) announced record order intake figures for the six months ending November 30th, 2022.
The term ‘order intake’ refers to the total value of purchase orders received by the company in a given period.
As of the close of the second quarter, order intake for the year-to-date period stood at $18.1 million. This exceeds the order intake at the same point in each of the previous five fiscal years by at least 90 per cent.
These results come from a wide variety of orders of varying sizes and values. It is from a combination of both Custom Equipment and Turn-key Projects.
Custom Equipment orders continued to grow throughout the pandemic. The company is now seeing even further growth as customers’ operations return to normal. Custom Equipment order intake for the first half of fiscal 2023 is more than double what it was last year for the same period.
Turn-key Project pipeline and resulting orders were heavily impacted by COVID lockdown measures. However, the company is seeing a turnaround in this area in fiscal 2023.
The Turn-key Project order intake for the first six months of fiscal 2023 exceeds order intake at the same point in each of the previous five fiscal years by at least 39 per cent. It is 3.5 times the order intake amount for the full twelve months of fiscal 2022.
Thermal Energy supplies proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors.
Thermal Energy International Inc. (TMG) is up 4.55 per cent, trading at C$0.115 per share at 3:30 pm ET.
