EVZ announces Q1 FY25 financials

EVZ (ASX:EVZ) has released its quarterly activity report for Q1 FY25, ending 30 September 2024. The company reported a net operating cash outflow of $0.4 million. It maintains a strong cash balance of $7.7 million with no drawn debt. EVZ secured new contracts worth approximately $33 million, including projects with Rio Tinto and Perdaman Industries. The contract backlog stands at $85 million, supporting confidence for FY25 and FY26.

EVZ's strategic outlook and performance

EVZ has reported strong performance in its Q1 FY25 report, maintaining a robust cash position of $7.7 million and securing significant contract wins worth $33 million. The company's contract backlog of $85 million provides a solid foundation for the upcoming financial years. EVZ is focused on securing new contracts, expanding its project portfolio, and exploring acquisitions in the Energy and Resources and Building Products sectors. The company is committed to operational improvements and capturing market opportunities, particularly in renewable energy and economic recoveries in Asia.

Executive commentary from EVZ

The positive contract wins and the strength of our balance sheet position us well for continued growth. Our focus remains on expanding our project portfolio and exploring strategic acquisitions to enhance our market presence in key sectors.