SciDevL (SDV) H2 2024 earnings summary

Executive summary

• Achieved record FY24 revenue of $109.2m, up 22% year-over-year, and underlying EBITDA of $8.8m, more than double FY23.

• Net profit after tax rose to $2.2m from a $0.3m profit in FY23, with positive operating cash flow of $6.5m.

• Water Technologies revenue grew 88%, driven by PFAS treatment contracts and new project wins in Australia and North America.

• Expanded international presence through new contracts, joint ventures, and leadership appointments in North America.

Financial highlights

• Revenue: $109.2m (+22% vs FY23); Underlying EBITDA: $8.8m (FY23: $4.1m); Net profit after tax: $2.2m (FY23: $0.3m).

• Operating cash inflow: $6.5m; Cash and cash equivalents at 30 June 2024: $9.4m; Inventory: $7.5m.

• Basic EPS: 1.15 cents (FY23: -0.18 cents); Net tangible assets per share: 13.27 cents (FY23: 11.80 cents).

• No dividends declared or paid in FY24.

Outlook and guidance

• Strong contract pipeline and demand expected to drive further growth in FY25.

• Focus on capitalizing on US EPA PFAS regulations and expanding North American PFAS business.

• Plans to grow mining sector market share via direct sales, licensing, and joint ventures.

• Ongoing diversification in Oil & Gas client base as proprietary products gain traction.

• $10m Westpac finance facility secured post-year-end to support growth initiatives.