One new piece of narrative in CEO update I won't say it was an absolutely perfect release of information; don't want to have that fight with people:)
It's an attempt to frame the narrative around the stock IMO . It starts with positive and ends with positive. Reminds me ot that song , accentuate the positive .......eliminates the in beween.
It seems like nobody thinks the highlighted section could be important?
Finally, on the technology front, we’ve been investing in our digital infrastructure, which we call our Architecture for Growth and includes:
- A robust global accounting program and ERP software to create agility in our accounting, manufacturing and fulfilment and to ensure we continue to expand our operations in an efficient and scalable manner as we continue to take on more technologies, projects, territories and routes to market.
- Our new Carbon Reduction and Efficiency Scoping Tool (“CREST”), which is a custom-developed mobile app that enables our sales and engineering teams to efficiently collect site data and identify thermal energy savings and carbon reduction opportunities during principal customer visits. We are in the final stages of development of CREST and as we have discussed before, we expect CREST to help us increase sales and engineering efficiency and help identify more heat recovery and cross selling opportunities for our direct sales team. This tool is especially valuable given the number of solutions we can offer our customers and ultimately affirms our assertion as technology leaders.
Strong Outlook for Fiscal 2025 and Beyond
Looking ahead, we believe our outlook for fiscal 2025 and beyond remains very positive. Our order backlog at the start of our new fiscal 2025 year was higher than it’s ever been at the start of a fiscal year. In fact, it’s approximately 40% higher than it was at the beginning of fiscal 2024. While not all of that backlog will necessarily be fully executed in fiscal 2025 (and we may receive additional orders that we do execute fully in fiscal 2025), our order backlog has traditionally been one of our best leading indicators for revenue on a forward 12-month basis. In addition, we believe our strong business development momentum and pipeline, coupled with our investments for future growth, position us well for continued success.
In closing, I want to thank our shareholders for their continued support and confidence in Thermal Energy International. Our achievements in fiscal 2024 would not have been possible without the dedication of our talented team and the support of our valued customers. We are excited about the future and I look forward to sharing more successes with you soon.
Sincerely,
William Crossland
President and Chief Executive Officer
Thermal Energy International
GLTA