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