Green360 Technologies (GT3) H2 2024 earnings summary

Executive summary

• Revenue increased to A$12.3 million in FY24 from A$11.3 million in FY23, driven by kaolin sales of ~20,000 tonnes to local and international markets.

• Strategic focus shifted to high-margin industries (paints, coatings, rubber, inks, pharmaceuticals), resulting in a 47% premium in average selling price for new customers in H2 FY24.

• Operational cost optimization at Pittong completed, with reduced working hours and staffing, and capital outflows significantly reduced.

• Commercialization of low-carbon geopolymer concrete technology advanced, including a joint venture with PERMAcast and successful delivery of first precast products.

• Divestment from non-core silica sand and Dingo HPA projects to focus on core operations.

Financial highlights

• FY24 revenue: A$12,252,427 (up from A$11,259,102 in FY23).

• EBITDA: (A$6,718,124) loss (FY23: (A$7,533,562) loss).

• Net loss after tax: (A$7,635,544) (FY23: (A$8,101,122)).

• Basic loss per share: (0.88) cents (FY23: (1.14) cents).

• Cash at year-end: A$3,126,425.

• Net cash outflows from operating activities: (A$2,923,349).

Outlook and guidance

• Focus on expanding high-margin kaolin sales and ramping up production as new orders are secured.

• Operational cost reductions and completed capital expenditure at Pittong expected to improve results in FY25.

• Continued commercialization of geopolymer concrete technology through joint venture.

• Ongoing exploration, development, and potential acquisition of suitable projects.