Ava Risk Group Sales Up 14 Per Cent In 2024.
Ava Risk Group Sales Up – AVA Risk Group, ASX-listed parent company of Future Fibre Technology, BQT Solutions and GJD Manufacturing, has reported a sales increase of 14 per cent for the 2024 financial year.
Ava Risk Group is an ASX-listed global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates 3 business segments – Future Fibre Technology (FFT), BQT Solutions (BQT) and GJD Manufacturing.
CEO Mal Maginnis said he was pleased with Ava Group’s progress, noting that investments in technology and commercial capabilities are yielding benefits, as seen in the growth in sales order intake and contracts with major partners such as Telstra Group, UGL Limited, Siemens, Santos, Exxon, and dormakaba.
Sales order intake of $A35.4 million was up 14 per cent, with group revenue and other income of $30.2 million up 5.6 per cent and 2H24 numbers up 13 per cent. Group gross margin of 60 per cent was in line with expectations and underlying group EBITDA was $(0.9) million. The company’s cash balance was $5.1 million at 30 June 2024.
Ava Risk Group reported a sales order backlog of $A8.5 million at 30 June 2024, representing orders received yet to be fulfilled.
The backlog includes $2 million of annual recurring revenue under contract driven by strong uptake of subscriptions for the Aura Ai-X product. For the period significant orders in major infrastructure projects in Australia and Latin America were secured, with major a supply agreement with Telstra Group announced in February.
FFT manufactures and markets smart fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. BQT is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. GJD is a specialist in the development and manufacturer of perimeter detectors, illuminators and ANPR cameras.
You can learn more about Ava Risk Group here or read more SEN news here.
“Ava Risk Group Sales Up 14 Per Cent In 2024.”
