* FY13-FY17 normalised minerals revenue - continuing operations
"We exceeded our financial targets for the year, achieving a 23% increase in revenue and a 55% increase in EBITDA. This positive outcome was due to improving market conditions globally, our regional expertise and further market penetration for our differentiated technologies."
Revenue from continuing operations of $176.2 million (FY16: $143.3 million).
EBITDA from continuing operations of $31.5 million (FY16: $20.3 million).
Net profit after tax of $3.7 million (FY16: a loss of $56.2 million).
Operating cash flow from continuing operations (excluding financing costs) of $20.7 million (FY16: normalised $10.0 million).
As at 30 June 2017, net assets increased by $44.2 million and net cash totalled $12.3 million.
Successful Capital Raising
As announced to the market 5 September 2016.
Secured a new $30 million Bankwest facility on attractive terms.
Paid Out Facility
Paid out the Bain Capital facility in full.
|$ MILLIONS UNLESS INDICATED OTHERWISE||30 JUN 2017||30 JUN 2016|
|Assets held for sale *||-||3.2|
|Other assets / deferred tax||27.5||24.9|
|Other liabilities, provisions, current tax||13.6||15.8|
* Oil and gas technology written-off.
* Represents cash inflows of $19.5m (prior to financing costs) adjusted for cash outflows from discontinued operations of $1.2m.
Summary of Financial Highlights
FOR THE YEAR ENDED 30 JUNE 2017 (AUDITED RESULTS)
|REVENUE FROM CONTINUING OPERATIONS (EXCLUDING INTEREST INCOME)||143,346||176,225||23%|
|EARNINGS BEFORE INTEREST, TAX, DEPRECIATION & AMORTISATION (EBITDA) FROM CONTINUING OPERATIONS||15,078||31,496||109%|
|Depreciation and impairment||(8,830)||(10,692)||21%|
|EARNINGS BEFORE INTEREST & TAX (EBIT)||5,656||20,221||258%|
|Net interest expense||(10,052)||(16,413)||63%|
|Net profit/(loss) before tax||(4,396)||3,808|
|Income tax expense/benefit||535||(1,243)||(332%)|
|NET PROFIT/(LOSS) AFTER TAX FROM CONTINUING OPERATIONS||(3,861)||2,565|
|Profit/(loss) from discontinued operations||(52,392)||1,098|
|NET PROFIT/(LOSS) AFTER TAX||(56,253)||3,663|
|Basic earnings/(loss) per share from continuing and discontinued operations (cents)||(23.11 ¢)||1.14 ¢||-|
|Net Cash provided by Operating Activities||(6,567)||13,071|
|Cash on hand||12,977||19,379||49%|
|Net Tangible Assets per Share||22.03 ¢||27.07 ¢||23%|