PWN - Parkway Corporate

[Dona Ferentes]

same ol... from AGM. still $0.01

This significant growth in our operations was supported by our recent strategic acquisition of Tankweld, a leading industrial engineering solutions provider based in Melbourne. As an established industrial company, embedded in the water sector since the 1940s, Tankweld has a proven project delivery capability, from design, fabrication and through to installation and commissioning. This also represents an ideal platform to support the commercialisation of Parkway’s existing technology assets. More specifically, we believe the acquisition of Tankweld represents an important countercyclical investment, to secure strategically important capabilities, which will assist us further accelerate the growth of Parkway.

In addition to the existing project pipeline, Tankweld has recently secured involvement in numerous major projects which will generate several million dollars of revenue in the year ahead, as well as enable Parkway to support the fabrication and delivery of larger scale projects with tier-1 industrial and municipal clients.

This represents a pivotal transformation for Parkway from a small-scale technology company with limited project delivery capabilities, to a provider of more significant and integrated capabilities. Parkway is now increasingly capable of delivering a diverse range of industrial water, wastewater treatment and infrastructure related projects on a turnkey Engineering, Procurement & Construction (EPC) and Design & Construct (D&C) basis.

 

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Operating Revenue
Parkway generated group operating revenues of approximately $3.48 million for the December quarter, compared to $0.67 million for the prior corresponding period (FY24-Q2), representing a 420% increase.

Outlook
Given the significant growth in revenues generated during the last year and the encouraging activities outlined in the Business Development & Growth Outlook section outlined above; Parkway expects to continue to achieve improved operating results into the future. Notwithstanding the confidence in ongoing revenue growth, given the inevitable volatility impacting various project specific activities, particularly in terms of timing impacts, at this stage the Company does not provide any form of guidance or financial forecasts. As Parkway transitions towards sustained profitability, the Company intends to commence providing guidance at the appropriate time.


As of 31 December 2024, the company held $2.77 million in cash reserves. It should be noted that the reported cash balance excludes,
i) undrawn balance of the term loan facility,
ii) undrawn grant funds,
iii) the anticipated R&D rebate for FY25, and
iv) other receivables.