Lion Asiapac (BAZ) Q3 2024 earnings summary

Executive summary

• Nine-month revenue rose 21% YoY to $30.1m and net profit was $0.7m, versus a $2.4m loss; Q3 revenue increased 7% and net profit was $45,000.

• Results included seven months of contributions from the Semangat businesses, acquired in August 2023; the proposed Compact Energy disposal lapsed after its shareholder-approval condition was unmet.

Financial highlights

• Q3 revenue was $10.277m versus $9.567m; net profit was $45,000 versus a $125,000 loss, and EPS was 0.06 cents versus a 0.15-cent loss.

• Nine-month revenue was $30.090m versus $24.823m; profit before tax was $904,000 versus a $2.338m loss, and net profit was $692,000 versus a $2.411m loss.

• Nine-month other income and gains rose to $1.872m from $944,000; prior-period other losses included $1.582m, while current gains included FX recovery and a natural-gas claim reversal.

• Nine-month employee benefits expense rose 33% to $2.509m and right-of-use depreciation rose to $316,000 from $128,000, mainly reflecting the Semangat acquisition.

Outlook and guidance

• With the economic outlook uncertain, operations will be managed prudently while pursuing new opportunities.