Avalon Holdings Corporation reported its financial results for the fiscal year ending December 31, 2024, revealing a total revenue of $30.1 million, a decrease of 5% from $31.7 million in 2023. The company experienced a net loss of $1.2 million, compared to a net income of $0.5 million in the previous year. This decline in profitability was attributed to increased operational costs and a reduction in customer demand, particularly in its waste management services segment, which accounted for approximately 55% of total revenues.
In terms of operational changes, Avalon made significant strides in expanding its service offerings. The company launched Avalon Dermatology, LLC in March 2024, which provides dermatology services and is expected to enhance its healthcare-related revenue streams. Additionally, Avalon continues to manage its existing subsidiaries, including Avalon Golf and Country Club and The Grand Resort, which collectively contribute to its golf and related operations segment, representing about 45% of total revenues. The company reported a total employee count of 882 as of December 31, 2024, with a majority employed in the golf and related operations.
Avalon’s customer base remains stable, with one customer in the waste management segment accounting for 10% of its net operating revenues. However, the company faces challenges in retaining and attracting new members to its golf and country club facilities, which is critical for maintaining revenue levels. The company has implemented various marketing strategies to address this issue, including local advertising and membership promotions.
Looking ahead, Avalon Holdings Corporation anticipates a challenging environment due to ongoing economic pressures, including inflation and increased competition in both the waste management and hospitality sectors. The company is focused on optimizing its operations and exploring new revenue opportunities to mitigate these challenges. Avalon has expressed its commitment to enhancing customer engagement and expanding its service offerings, particularly in the healthcare sector, as part of its long-term growth strategy.
About AVALON HOLDINGS CORP
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