SciDevL (SDV) H1 2025 earnings summary

Executive summary

• Revenue for 1H FY25 was $49.9m, in line with the prior corresponding period, with underlying EBITDA rising 6% year-over-year to $3.4m.

• The business operates through Specialty Chemistry and Water Technologies divisions, focusing on innovative water solutions, PFAS remediation, and expanding its global footprint.

• Positive operating cash flow of $2.2m and cash balance of $11.0m as of 31 December 2024.

• Strategic wins in Europe with first PFAS treatment contracts in Sweden and the UK, and expansion into US mining via the Nuoer SciDev JV.

• No dividends were paid, recommended, or declared during the period.

Financial highlights

• Revenue for 1H FY25 was $49.9m, down 0.8% year-over-year; underlying EBITDA increased to $3.4m from $3.2m.

• Gross margin for 1H FY25 was 29%, with positive cash flow and cash and equivalents at $11.0m.

• Net loss after tax was $68k, compared to a profit of $57k in 1H FY24; basic and diluted EPS were both (0.04) cents.

• Profit before income tax was $955k, up from $886k in 1H FY24.

• Cash and cash equivalents increased to $10.9m from $9.4m at 30 June 2024.

Outlook and guidance

• Confident in continued organic top-line growth and profitability improvements, with strong balance sheet and $10m finance facility supporting expansion.

• Expecting revenue uplift in the second half, especially in water technologies and energy business as U.S. oil field activity rebounds.

• Strategic focus on expanding PFAS remediation, leveraging proprietary technology and scaling European operations.

• Exploring inorganic growth opportunities, including M&A, in Europe and the US.

• Chemical Services segment anticipates growth and market share expansion through new contracts and a joint venture with Nuoer Chemicals.