Vysarn (VYS) H2 2024 earnings summary

Executive summary

• Vysarn delivers vertically integrated water, carbon, and environmental services, targeting growth in resources, urban, government, utilities, and agriculture sectors.

• FY24 revenue from operations reached $75.89 million, up 17% YoY, with NPAT more than doubling to $7.96 million, a 106% rise.

• All wholly owned subsidiaries delivered year-on-year earnings growth, supporting the vertically integrated water services strategy.

• Acquisition of Waste Water Services (WWS) for $7.5m is >20% EPS accretive, expanding Vysarn's platform and client base.

• Laid foundations for groundwater resource ownership and expanded executive leadership to support future growth.

Financial highlights

• FY24 operational revenue increased 16.7% YoY to $75.89m; EBITDA rose 31.1% to $16.32m.

• NPBT grew 56.3% YoY to $11.06m; NPAT more than doubled to $7.96m.

• Net tangible assets increased to $37.66m; net current assets at $11.24m and net cash of $0.89m as of June 30, 2024.

• Operational cashflow reached $10.21m, up 6% from the prior year.

• WWS contributed FY24 NPBT of $2.24m and NPAT of $1.68m (unaudited).

Outlook and guidance

• Management targets continued YoY growth in FY25 via organic initiatives and further acquisitions.

• WWS expected to be a material earnings contributor, with new projects and tenders in pipeline.

• Focus on expanding into East Coast markets, commercial utilities, and new industry sectors.

• Board and management remain focused on long-term, sustainable value creation.

• Ongoing investment in water asset development in Western Australia, aiming for long-term annuity income.