Ava Group Sales Rocket Year On Year.
Ava Group Sales Rocket – Ava Group, the Australian-based parent company of BQT Solutions, FFT and GJD, continues its strong growth trajectory.
Full year confirmed sales orders of $A30.9 million, were up 71 per cent on the previous year, and up 36 per cent excluding the Illuminate division orders. There’s a confirmed sales order backlog of $3.5 million relating to equipment orders expected to be fulfilled during Q1 FY2024 and multi-year services contracts.
Continued strong momentum in confirmed sales orders received during Q4 of $7.7 million, is up 41 per cent on the previous year and up 13 per cent, excluding Illuminate segment orders from GJD, which was acquired in August 2022.
“Since joining Ava Risk Group in January, my focus has been on developing our global sales capability to better exploit our existing market leading technologies in each of our business segments,” said Ava Group CEO. Mal Maginnis.
“The growth in full year sales order intake is pleasing as it affirms the investment we are making. Of note is the sales order intake of $16.5 million in the second half, double that of the prior corresponding period,” Maginnis said.
“We expect to see continued sales order and revenue growth as our enhanced sales capability drives new opportunities while we ensure that our products and technologies remain market leading.”
Ava Group Q4 Sales Highlights By Division
Detect: Total Q4 order intake of $5.1 million, resulting in full year order intake of $20.7 million, up 55 per cent on the previous year. Customer demand for Aura Ai-X fibre sensing technology was strong with additional new orders received during Q4. Aura-AiX was launched during Q3 and is the Company’s latest generation, data driven intrusion detection system.
Access: Total Q4 order intake of $1.1 million, up 50 per cent on Q3 order intake. Full year order intake of $3.9 million was down 17 per cent on the previous year. Much of the focus during FY2024 has been on attaining product certifications in key distribution channels, which are anticipated to be completed during Q1 FY2024. The strength of its distribution contracts is expected to drive sales order growth in the Access segment in FY2024.
Illuminate: Total Q4 order intake of $1.5 million, resulting in full year order intake of $6.3 million. The Illuminate segment continues to experience a slowdown in domestic orders in the UK, reflective of challenging economic conditions. The company is confident of growing orders during FY2024, particularly via its export channels.
Ava Group Sales-At the end of FY2023, Ava Group carried an order backlog of $3.5 million which represents sales orders received still to be fulfilled. These orders relate to equipment orders expected to be fulfilled in Q1 FY2024 and multi- year service contracts. Expected FY2023 revenue of $28.4 million to $28.7 million is in line with previous guidance range.
Ava Group has 3 operating segments:
Detect – 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.
Access – Specialises in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products.
Illumination – Specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors.
“Ava Group Sales Rocket Year On Year.”