Aquirian's half year financial performance and strategic acquisitions

Aquirian Limited (ASX: $AQN) has reported its half year financial results for the period ending 31 December 2023. The company's revenue of $12,144,555 was down 12.1% compared to the prior corresponding period, while EBITDA stood at $1,855,825, consistent with the previous corresponding period. The company's net assets strengthened to $12,403,492, with positive cash flow generated from operating activities amounting to $3,603,420.

Aquirian Managing Director's perspective on financial performance and strategic developments

The half-year financials of the group reflect another solid performance by our dedicated team. Operationally, we continue significant advancements in our innovative products and services that improve efficiency and cost savings for our customers. Field trials of the automated Collar Keeper® System were very successful and advanced the development of our Bootless Bench®. Settlement of the Wubin Emulsion Plant is well advanced and on track to be completed in Q3FY24. There has been significant interest from customers since announcing the acquisition and we remain very optimistic this will be a strategically transformational asset for our company. I look forward to updating investors on financial completion in the near term.

Summary of Aquirian's half year financial performance and strategic outlook

Aquirian Limited (ASX: $AQN) reported a 12.1% decrease in revenue for the half year ending 31 December 2023, with EBITDA consistent with the previous corresponding period. The company's net assets strengthened to $12,403,492, with positive cash flow generated from operating activities amounting to $3,603,420. Aquirian's strategic acquisition of the Wubin Ammonium Nitrate Emulsion Plant and the successful field trial of the Collar Keeper® automated system demonstrate the company's commitment to innovation and expansion. The outlook for FY24 remains positive, with the company aiming to generate sustainable increased revenue and margin over the medium to long term through the acquisition and startup of the Wubin AN Emulsion Plant and continued commercialisation of the Collar Keeper® System.