Jul 30, 2024 / 11:30PM GMT
Thomas Pokorsky - Fluence Corporation Ltd - Chief Executive Officer, Managing Director
Thank you very much. Good day, everyone. Thanks for taking the time to tune in to our 2024 first half or Q2 report. With me today are Doug Brown, our Chairman of the Board; and Ben Fash, our CFO. And as you can see from the report that we issued this morning, the first half results were lower than our budget and expectations. This was mainly driven by delays in some projects with the most significant effect coming from bureaucratic delays in the Ivory Coast Addendum project and a bit of some weakness in China showing up.
We had expected to get nearly $10 million more revenue in the first half from the Ivory Coast project, as it was scheduled to start in January -- start construction in January. At the time, we were waiting for the financing to be finally signed and completed. But for some reason, that financing took 6 months to complete mainly due to government and bureaucratic delays.
In particular, it took 1.5 months to get a presidential signature on it. So while the project is still proceeding and
Q2 2024 Fluence Corporation Ltd Earnings Call Transcript
Jul 31, 2024
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