IMDEX Limited

FY19 Financial Performance

Record Revenue

Up 12%

Revenue of $243.7 million (FY18: $218.5 million).

EBITDA

Up 23%

EBITDA of $52.3 million (FY18: $42.4 million).

Net Profit

Up 31%

Net profit after tax of $27.6 million, up 31% (FY18: $21.1 million)

Cash Flow

Up 121%

Operating cash flow of $35.2 million (FY18: $15.9 million).

Strong Balance Sheet

As at 30 June 2019, net assets increased by $33.9 million and net cash totalled $23.2 million.

"We had another positive year, building on our trend of revenue and EBITDA growth."

PAUL EVANS
CHIEF FINANCIAL OFFICER & COMPANY SECRETARY


REVENUE BY REGION ($m)

FY19 revenue up 12% on PCP

  • Increase in revenue across all regions
  • Benefiting from global presence
  • Strong 1Q19 and 4Q19
  • Revenue growth outpacing tool fleet growth
  • A greater proportion of newer instruments in the fleet – 3 to 5x the revenue of older generation instruments

EBITDA ($m) & EBITDA MARGIN (%)

FY19 EBITDA up 23% on PCP

  • Improving gross margins
  • Focus on streamlining operations and internal digital transformation
  • Improvement in cost base

CASH FROM OPERATIONS ($m)

Cash from operations up 121% on PCP

  • Working capital investment ratio of 34c for every incremental dollar of revenue for FY19
  • In line with expectations, similar ratio expected in FY20

BALANCE SHEET ($m)

Net cash up 194% on PCP

  • Improved balance sheet strength
  • Recommenced dividends
  • Net assets up 18%
  • Continued investment in leading technologies to drive future growth
$m 30 JUN 2019 30 JUN 2018
Cash 29.5 13.9
Receivables 54.7 49.3
Inventory 37.1 33.6
Fixed assets 29.4 36.5
Intangibles 59.5 59.5
Other assets / deferred tax 39.0 33.3
TOTAL ASSETS 259.2 226.1
Payables 25.3 26.4
Borrowings 6.3 6.1
Other liabilities, provisions 7.6 7.5
TOTAL EQUITY 220.0 186.1
     
ROE 12% 14%
ROCE 15% 17%

“We had another positive year, building on our trend of revenue and EBITDA growth.”

PAUL EVANS
CHIEF FINANCIAL OFFICER & COMPANY SECRETARY