Welcome to the latest investor update from Ava Risk Group. This update should be viewed in conjunction with any announcements lodged via the ASX platform, which are the primary source of market-sensitive company information released to the market.
FY2024 Results
On Tuesday 27 August, Ava Group released its FY24 results to the market. In a webinar to investors, Chairman David Cronin, CEO Mal Maginnis and CFO Neville Joyce provided an overview of results and provided an update on the Company’s outlook for FY25 and beyond.
Recapping the past financial year, 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.
FY2024 highlights:
- Sales order intake of $35.3 million, up 14% on PCP.
- Group revenue and other income of $30.2 million up 5.6% on PCP and 2H24 up 13% on 1H24.
- Significant orders in major infrastructure projects in Australia and Latin America secured.
- Major supply agreement with Telstra Group announced in February 2024.
- Group gross margin of 60%, in line with expectations.
- Underlying Group EBITDA of $(0.9) million following investments in technology and commercial capabilities supporting a record sale order intake, with EBITDA positive in 2H FY24.
- Sales order backlog of $8.5 million at 30 June 2024, representing orders received yet to be fulfilled.
- Backlog includes $2.0 million of annual recurring revenue under contract driven by strong uptake of subscriptions for Aura Ai-X.
- Cash balance of $5.1 million at 30 June 2024.
Ava Group’s strong sales order intake represents continued progress across each operating segment, and in building the Company’s position as a global leader in sensing and risk management technology. Watch the FY24 Investor Webinar here.
Annual General Meeting
Ava Group’s FY2024 Annual General Meeting will be held at 11.00am on Thursday 31 October at The Pullman Melbourne on the Park. You can also join the meeting online. Registration information will be included in the Notice of Meeting sent to shareholders in late September.
New FFT website goes live
Future Fibre Technologies has launched a brand-new website. With a contemporary design and enhanced user experience, the site now includes industry-specific case studies and a comprehensive showcase of FFT’s products and intrusion detection solutions. The homepage shines a spotlight on FFT’s extensive network of partners and customers, featuring testimonials and the latest news. Explore the new FFT website here.
SIL 2 Certification for FFT Aura Platform
Detect Project Wins
In recent months, Aura Ai-X has been selected to protect sites of all shapes and sizes – from an Eastern European border to multiple electricity substations on the East Coast of the United States. This not only highlights the versatility of Aura Ai-X and the strengths of its data driven intrusion detection capabilities, but its exceptional performance in complex and challenging environments. FFT’s latest product release – Aura Ai-XS for perimeters of up to 10kms – is also attracting a lot of interest from then corrections and mass transport sectors. Find out more about Aura Ai-X and Aura Ai-XS here.
Illuminate Update
With new distributors signed in Poland, Germany, Austria, Estonia and Slovakia, the strong demand for GJD’s illumination and detection solutions continues. Recent installations include the LoRa system at the UK Parliament, detectors for the mining industry in Sweden and illuminators for wildlife filming in Cyprus. A new wireless solution based on the long range LoRa integration system is also set to be launched. This system enables the integration of up to 500 devices without the need for data cables to provide a unified control and security network and will be available in FY25.
Expanded distribution for YD30 lock
BQT’s revolutionary YD30 Series is now available through dormakaba UK, opening up significant opportunities in the UK access control market. The market response to this game-changing lock has been overwhelmingly positive. Known as the SL30 under dormakaba UK, this lock is designed to tackle daily challenges with ease, ensuring smooth door alignment and reliable release even under heavy loads. Whether installed in offices, retail spaces, or other environments, it integrates seamlessly with access control systems, offering precise access management and real-time feedback on door and bolt positions—crucial for maintaining site security. The Access Team is excited to partner with dormakaba UK as it expands its distribution network for world-class locking and access control solutions, tapping into the growing demand in the UK market.
Getting the job done
Our team has been out and about working with partners and customers to install and commission FFT’s smart security and sensing solutions to protect critical infrastructure and assets – including endangered animals. Here are just a few examples…
LNG project in PNG
National Park in Africa
Factory in Turkey
Thank you for your support and interest in Ava’s expanding products and technical capabilities.
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ABOUT AVA GROUP
The Ava Group is a market leader of risk management technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.
The Group features a range of complementary solutions including intrusion detection and location for perimeters, pipelines and data networks, biometrics, card access control and locking. Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium technologies for the most complex and demanding markets.
Our business truly serves a global market, with our knowledgeable team spread across six continents, providing market and industry expertise directly to customers. With thousands of sites protected, the Ava Group is proven to deliver first class technologies that surpass the expectations of our partners and end users.
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