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#ASX Announcements
stale
Added 3 years ago

17 August 2021

Ava Risk Group to Divest Services Division


Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) today confirms that it has entered into a
Sale and Purchase Agreement (“SPA”) with TTG Bidco Limited (“Buyer”), an entity backed by funds advised by
Phoenix Equity Partners Limited (United Kingdom), to divest its non-core Services Division, Ava Global DMCC-LLC
(“Ava Global”) ("Transaction"):

  • Sale price of US$46.4 million (A$63.1 million) with anticipated net cash proceeds of US$31.1 million (A$42.4 million) after closing adjustments, and payment of management incentives and FY2021 accrued bonuses
  • Net cash investment return to Ava Risk Group of circa 587%
  • Expected completion by the end of October 2021
  • Post divestment of Ava Global, Ava Risk Group comprises of leading security technology and sensing solution providers Future Fibre Technologies and BQT Solutions
#ASX Announcements
stale
Last edited 3 years ago

5 July 2021

FY2021 Trading Update & Outlook

  • Group Revenue forecast of $64.8m, above the guidance of $60-64m provided on 12 May 2021
  • Group EBITDA forecast of $14.8-15.8m, above the guidance of $13-$15m provided on 12 May 2021
  • Group Revenue forecast of $64.8m, up 41% on pcp (FY20 $46.1m)
  • Group EBITDA forecast of $14.8-15.8m, up 100-114% on pcp (FY20 $7.4m)
  • Group EBITDA margin forecast of 23-24% compared to 16% in pcp
  • Strong financial position with consolidated net cash forecast of $17.0m and no debt

NB:All figures compare 12 months to 30 June unless otherwise indicated; FY21 forecasts are unaudited and in A$m

#ASX Announcements
stale
Added 3 years ago

23 April 2021

Q3 FY2021 Quarterly Activities Report & Appendix 4C

  • Net cash from operating activities of $3.0m in Q3 FY2021compared to $1.1m in Q3 FY2020
  • Cash receipts of $14.8m in Q3 FY2021, a 66% increase on $9.0m in Q3FY2020
  • $4.4m in dividends paid on 10 March 2021 related to special dividend of 2cps
  • Strong financial position with consolidated net cash of $11.7m and no debt
  • COVID-19 Update: Continues to affect some areas of our operations but has also created opportunities to deliver innovative solutions to our customers
#ASX Announcements
stale
Last edited 3 years ago

12 February 2021

Multi-base Air Force Contract Award Ava Risk Group Limited (ASX: AVA)(“Ava Group”or “Company”) is pleased to announce that its world leading Aura Ai sensing product has successfully completed comprehensive Site Acceptance Testing at a major airbase located within a large Asian country and been selected to be deployed for a further 15-site program to upgrade security at certain major airforce bases.

  • Multi-site security upgrade.
  • Initial purchase orders received exceeding US$0.55m (A$0.7m) for the next 4 sites.
  • Deployment at these 4 sites is expected during Q3 FY2021 with follow on orders anticipated for the remaining 11 sites during Q4 FY2021 and FY2022.
#ASX Announcements
stale
Last edited 3 years ago

14 January 2021

Ava Group Achieves Record Result for H1 FY2021(unaudited) Ava Risk Group Limited (ASX: AVA)(“Ava Group”or “Company”) is pleased to announce revenue and profit growth in the first half of FY2021:

  • Sales Revenues have increased by approximately 70% compared to the same period last year to be in excess of $35.0 million for the half year.
  • EBITDA has improved by circa 450% compared to the same period last year, to exceed $12.0 million for the half year.
  • All business units are profitable for the half-year.
  • Cash at bank as at 31 December 2020 of $13.4million.

Services Division–H1 FY2021 Snapshot

  • H1FY2021 Revenue approximately $18.4m (With Q2 FY2021 revenues more than $2.2m+ above Q1FY2021)
  • Gross Marginto be maintained at around 34%, considerably above the 25% in FY2020
  • H1 FY2021 EBITDA to exceed $3.5m (versus $2.4m for the whole of FY2020)
  • New contract awarded in the wholesale banknote sector, with annual revenue in excess of $1m, commencing Jan 2021
  • New operational staff in Frankfurt and Miami, supporting recent and anticipated growth in the Americas and EMEA, in addition to the New General Manager Asia, based in Singapore, appointed in Q1 FY2021
  • Whilst there has been some normalisation of pricing due to the lifting of certain COVID-19 air freight restrictions, the underlying revenue and gross margin trend remains strong
  • Industry consolidation continues to provide additional revenue opportunities with current and prospective customers

Technology Division–H1 FY2021 Snapshot

  • 1H FY2021 Revenue approximately $16.6 million
  • 1H FY2021 EBITDA in excess of $8.5 million
  • Q2 FY2021 EBITDA was adversely impacted compared to Q1 FY2021 EBITDA by FX losses on a strengthening Australian dollar, the completion of the BQT Australian DoD project early in Q2 FY2021, and the cessation of government incentives income (combined impact of circa $3.2 millionvs. Q1). We had previously estimated an FX benefit of circa $0.4 million in Q1. Our latest review of the combined Q1 and Q2 FX impact has resulted in a revised estimate of circa $0.9 million FX loss for 1H FY2021
  • Indian Ministry of Defence revenue for the large-scale data network protection program (FFT’s SecureLink product) is expected to be approximately $7.7m for H1 FY2021
  • Despite Covid-19 restrictions continuing to delay certain orders due to travel restrictions and office shutdowns, our Technology Division has continued to operate, and delivered systems to both current and new customers including deliveries for major defence programs
  • Growing commercial interest in our new conveyor health monitoring solution (Aura IQ) with multiple Proof of Value trials completed and/or underway
  • Increasing activity with our assurance sensing solutions for terrestrial and sub-sea power cables
  • First shipments of the latest version of our FOSS platform delivered during the half year –with Machine Learning software which is the completion of the first step in our roadmap of innovative solutions that will be offered to our customers on a SaaS revenue model.