you for third results. you, morning Thank and today our good Robert, us XXXX joining of you. to Thank discuss to all quarter
very strong the in net important fourth I'm our the backdrop. two a which new due Further with growing very the of Absent be we’re third and income and a of existing quarter, third the hiccup bookings couldn't record pleased progress record. in order four making. furnaces, our highlighted quarterly mechanical we're the continue also pleased experiencing to equally I consecutive about with issues of more the to our quarter revenue remain quarter results
a Let's into the third go deeper. bit quarter
third XXX% record revenue As and up quarter traditional from also the most shut consecutive quarter achieved the quarter I $X.X mentioned, our from of summer of the in marked highlight sequential increase million, July despite down at in recent holiday a quarter. of weeks. that European quarter several last quarterly third our to million most the August, third season where year companies for $X.X in like coming record I'd was and
despite expansion most of a was This new and company. was Hobro the the quarterly the in the a of record of loss in income $XXX,XXX with in quarter. of associated up The recent improvement a winter net cost $XXX,XXX. quarter new net step quarter $XXX,XXX of a exceptional achieved our from This facility. $XXX,XXX third also record a last was income new net was for of great year, Our from the
for term strategic filtration had to significance the orders several also our accepted the in orders We low system longer market. core we that quarter, due margin
new has enabled orders prices us now booking. our We on the now market through have of are and increase these the majority growing we strong low worked margin projects to position
to Our on track. continues program be margin optimization
the to just sourcing been acquisition activities. we year, the quarter, key the we certain this margin of out optimization laid of one the program BS Plastics, has the which of manufacturing During beginning components completed at the of
tanks of and products in $X the production more based to on with certain our years million for manufacturing expect volumes the bringing upwards machine in By our come in water plastic XXXX save current of plastic as increase. house, significant levels, filtration we savings to systems
has they BS customers Plastics Additionally, other to generate and which profits for revenue continue from.
operations cover to expect to one on profits be Plastics savings investment. approximately shareholders So with you BS when cost back this we to the from pay the year existing
of the fourth introduced able cost and delivered filtration for have we we With plan version XXXX almost the fourth been to system. XX%. most system In new XXXX. of new the by a the version, the projects it decrease cost quarter new this for deliver per our third quarter, We projects to MKX.X of third the in the of first quarter one about optimized system quarter, and the in
be the also of version the is We’re to in of further currently which new ready cost XXXX. of second the development version in system, MKX quarter set reductions. offer The MKX a will
Overall, our the we target on of in half XXXX. to XX% margins are exceed achieve overall goal gross of to first
of with forward in system that make furnaces I actually of release, encountered the ceramic two as we scrubber the some for systems. the Now saw press most filtration membranes you assume marine mechanical issues
these have Unfortunately, operating you seen we've they than months, significant last of over the As been the previously. delay higher with the caused seen manufacturing of XXXX. for of imagine, we has can to systems for furnace to ceramic be revenues be the in ever the throughput the this set approximately issue, membranes are have ramp Due now quarter million. fourth of fourth to delivered expected several $X the few XXXX quarter in projects
that scheduled order notified. in forward order in been issues mechanical original thinking fourth by The Customers additional their to delay highlight have impacted shipments we when -- our a did. have quarter furnaces may been
ordered first be expansion first quarters this and about talked to our as the in we said of of furnaces With we furnaces XXXX. the later part As additional last to of set be second that installed manufacturing three quarter, is installed the quarter. new
have than our capacity larger Each of a old and the much more furnaces. new efficient, furnaces are they much
be XXXX have July net furnaces production. old capacity Our the scrapping. put will new we by our set in tripled of total ones as scrapped, In to
we discussed, have expansion conditional in of Hobro One -- production building XXXX. expansion completed increase orders of furnaces, our and which for month was earlier final half one the could further production. the the point further has installation ahead been As The schedule. and second facility capacity of into placed manufacturing, also put completed the approximately
where hosting in our furnace our Copenhagen including The you Robert please Ballerup membranes, look yesterday, make ceramic our you event at forward for Denmark is installations, just As see for saw the where additional details. you second in Investor outside to our release facility, January in new just set press we contact Day. we will Blum
approach scrubber order to perspective, marine where unique industry. market is part filtration an work of This share manufacturers. served scrubber to the the as This silicon within gain agnostic to for from number new different From market, marine largely number seamlessly ability particularly water our well systems proprietary in a scrubber a we we engines continue have with added carbide Asia into new customers. has of us come the have ceramic
we strong water experience quarter, systems. continue a our the interest for During to filtration
provides that shipping by companies. one us We date three In also and our we single continues the order largest grow our largest announced are to backlog of world's the XXXX. note placed it strong in with quarter, a order pleased great confidence to to
completed with The deployment systems, container proprietary this particular two world. installations our has the customer years the order ships so us, for recent received and planned XX% orders over placed the and of by shipping filtration system in water installation over same follows This far. on the customer three multiple largest last having their
order, large working this market marine with orders believe I to other market. many our along very validate on scrubber the within position we're continues
addition receiving capital would agreement October announced orders product, rapid its new was attractive on the framework portfolio, third against scrubber started with as scrubber offers our a in developed water XXXX. operating be specifically to structure our manufacture, also marine have investment. it This existing with return an in conjunction which great We
The great liquid the to ocean. into prior loop scrubber discharge includes systems, corporation to expectations system take loop into market systems we which Again, back it ocean. loop of the loop systems dirty have and it continue achieve our discharges a contaminants include filtration dirty be marine Open the systems the environment. forward. of the the to dynamics these a closed very back water, was and loop Open removing simply this purpose trying cleans towards important industry closed all IMO that trend opposed harmful open believe defeat for revenue from the part contaminants as water that to We going systems. will the by
in many invincible favor Based already largest understands believe marketplace preparing pain the open on closed loop of systems these what is systems. our with the loop we conversations customers, dynamics are of and had for
scrubber us One open that systems market manufacturers to the loop. to to of and marine in XXXX This at systems loop scrubber to they up last compares XX% expect of same closed marine the XX% be orders year. loop XX% closed time approximately largest the mentioned the
loop friendly the XX open also towards ban in the is current open pressure of and a driven mentioned ports environmentally discharge trend than of customers that current closed the utilize it's scrubbers increased end companies more from of solutions. shipping driven only also loop the But expectation superior They not to world. around ban by and loop worldwide by discharge scrubber
installations. forecasters estimate loop open approximately end planned the By industry XXXX all X,XXX installations of
past. we that -- with the that trends, have many This we closed will increases market addressable significantly current believe believe in we loop. the be current the the of large to converted With trends, things estimated already
well scrubber where well One were Two to filter have is of technology plant, of other industries. marine is ability variety oil in heavy the increasing contaminants need the market dynamics as as was notable it to growth beyond the our areas legislation, our market power industries, to discussed the a was have as we take very as applied and demand driving and required. gas areas
power an book that to in and believe XXXX for We be important plant will onwards. systems of continue part business and our it orders
successfully companies. and oil one the oil world's In of largest gas the we pilot completed trial a with market, gas and
customers on this in other and numerous fee first the are We now of bidding expected half with received order with XXXX. projects
that For in the market was many ago. have you for success years, will limited the followed company many that had years those we and oil that one remember gas
for price As drops, were alternative looking of the applications. less oil we
and to of market industry had oil to we the forward the outcome marine interests. are projects of those the current the much higher Given have We reporting these the many back relationships with we [indiscernible]. on success in now previous you trends revisiting look in levels of
developing industry is to SOx a continue progress reduction the believe reduction XXXX. NOx this we Many implementation target on initiatives make be XXXX We key on initiative. the will products. which the our following to next within IMO Lastly, the product of launch in remain
a questions, I wanted of your to over call the couple last turn I Before to highlight. points
First, our working -- furnaces very capital facility in facility sheet a for new working it credit $X we put $XX.X of this the installed needs. capital working profitable a been the has coupled This new with leasing working million on has other facility capital new and that us million strong operations, a balance and position. new
we end year, back would that to the step now of XXXX. and the look a I are Also, take at approaching like
same and We turn the have at managed company to the profitable. triple our business, time
continue the are with market, coming shares improvements margin progress very the in made marine I'm we We gain on to progress further market pleased making in quarters. XXXX. planned Overall, optimizations, we the for and with scrubber
to setting out also be exciting. equally is XXXX
the making and in regulatory market have We're in applications that industry. new to scrubber grow tailings We marine addressable progress industries. continues several our
our growing to We backlog a meet the expanding demand. and capacity we're have order
that So fourth on most be a issues two back and should mechanical bit capacity to we to at see furnaces, the of due quarter trajectory in the while to in first full quarter. our the are going believe we to shortly recent returning the growth we operating disruption
XXXX we're quarter book, With million. of $XX in excess revenue in order current basis our expecting first
the in We improvements marine gratifying profitability optimizations. and scratching continued are our growth also there increased for technology of industries. technology, opportunities cost the to expect prices the just scrubber due the our applications proprietary sales now adjacent to to of continued It's and market across our in I various believe for future. forward and available. see the surface diversification I and business look to adoption into reaching far the we're
Operator, let might the said, questions any have. that to now With you me call over please. turn
