Energy Technologies Limited 1H25 Results

Energy Technologies Limited (ASX: EGY or “the Company”), releases its 1H FY25 Results for the period ending 31 December 2024.

Key highlights:

• First sales in the new renewables division;
• Signed Distribution Agreement with Tratos Group; and
• Awarded first tender with Siemens Mobility.

The consolidated net loss after tax and excluding non-controlling interest of the Group for the half year ended 31 December 2024 was $4,981,753 (31 December 2023 Loss was $5,145,877).

EGY’s wholly owned subsidiary Bambach Wires and Cables Pty Ltd (the company) reported a loss after tax of $3,963,969 compared to December 2023 Half Year loss of $4,445,620.

During this period, the company continued to reposition both its offering and revenue profile. This resulted in changing both the product mix and margin on product sold and product accepted into the order book. This resulted in Revenue being down 34% and the order book, in effect, being replaced with new orders. Pleasingly, the order book has now been replaced and currently sits at $2.72m at margins well above those forecast in the most recent updates. However, the company continues to be hampered by a lack of resources to deliver on this plan, notwithstanding the expansion of product through both the Tratos and Gantner Distribution Agreements, as disclosed on 17 May 2024 and 5 September 2024. The 25 November 2024 announcement regarding the successful tender with Siemens Mobility added $0.86m to the order book. With the shortfall of the rights issue in September 2024, the company has pursued and is in negotiations to fund this order book to ensure that it can grow revenue off the sales that have already been secured.

Click here for the EGY Appendix 4D and HY Financial Report 31 December 2024

Click here for the full ASX Release

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