galumay
learner
- Joined
- 17 September 2011
- Posts
- 3,465
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- 2,307
It will probably double and you will clean up the comp!
ACTIVITY STATEMENT FOR THE QUARTER ENDED 31 MARCH 2024
During the quarter ended 31 March 2024 (“Q1 2024”), revenue was $77.3m, representing an increase of $43.3m on Q1 2023 revenue of $34.0m.
Cash Receipts from Customers during Q1 2024 were $52.1m, down $10.0m from $62.1m in Q1 2023. This reflects a relatively high level of receipts in Q1 2023 following a successful customer contract amendment in Q1 2023 and the lumpy nature of cash receipts on projects.
During Q1 2024, other cashflows from operating activities (excluding cash receipts from customers) amounted to net payments of $74.6m. This is an increase of $42.0m on Q1 2023.
These payments included the cost of manufacturing products that customers paid EOS for during 2H 2023. In addition, cash interest and finance costs increased during Q1 2024 due to amendment fees paid to the lender during the quarter and due to interest being paid in cash rather than capitalised. As a result, the Net Cash Outflow from Operating Activities during Q1 2024 was $22.6m (down $52.1m from the $29.5m inflow in Q1 2023). More detail on these items is shown in section 2 below.
EOS’ cash balance at 31 March 2024 was $72.4m, and broadly in line with EOS’ expectations.
This represents an increase of $1.4m from the 31 December 2023 cash balance of $71.0m, and includes $33.6m of net proceeds raised from the institutional component of the equity capital raising during March 2024. More details of the cash movements during Q1 2024 are set out below.
Since the end of the quarter, the following occurred:
• EOS received net proceeds of $1.9m from the Share Purchase Plan (‘SPP’), as
announced on 22 April 2024.
• EOS repaid debt of $20.5m on schedule, as announced on 10 April 2024.
The following is a summary of key recent announcements by the Group:
paying off debt
1st quarter of the year was excellent but the 2nd quarter was not so good, pulling back to where it started the year off. But the middle of June has seen a bit of a turn around in price hopefully heading back up to the $2 mark or higher soon.
2024 CY Tipping Comp - Sept update.
Well I spoke too soon, not wanting to see EOS under 1.50. Down it went, under 1.50 and even a low of 1.225. It did bounce back,but only to 1.50 and has now settled at 1.415 for the end of the month.
Still up 36% for the year so far but it needs to get a move on for this last quarter.
Their growth forecasts look similar to the industry average, this will cause investor boredom and then a possible sell off. EOS need to increase sales and decrease overheads, if they can manage that there will be another good growth cycle.
UK Technology group Cohort has completed the acquisition of Australian satellite communication terminal specialist EM Solutions, expanding its naval defence offer and reinforcing the Group’s presence in Australasia.EM Solutions Divestment
Electro Optic Systems Holdings Limited (“EOS” or “Company”) (ASX: EOS) has today announced that it has entered into a binding share sale agreement to sell its Naval Satellite Communications subsidiary, EM Solutions Pty Limited (“EM Solutions”).
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