EP&T Global Limited half-year report highlights

EP&T Global Limited (ASX: $EPX) has reported a loss of $1,851,098 for the half-year ended 31 December 2023, compared to $1,886,857 for the same period in 2022. The company's revenue for the half-year increased by 29% to $6,474,934, and the net cash inflow from operating activities improved by $3,199,235 to $621,771.

Executive commentary on financial performance and outlook

The statutory reported loss after income tax benefit for the half-year amounted to $1,851,098, with EBITDA improving from $(1,071,852) in 2022 to $(520,573) in 2023, marking a 51% reduction. The company's Annual Contract Value (ACV) and Annualised Recurring Revenue (ARR) have shown positive growth, with the company reaffirming its ACV guidance of $16.0 million to $17.0 million and ARR guidance of $13.5 million by 30 June 2024. The new contract wins in the half-year added 8 new buildings to EP&T's portfolio, increasing the Group's total contracted buildings to 531.

Summary of EP&T Global's half-year report and outlook

EP&T Global Limited has reported a reduced loss in the half-year results, with improved EBITDA and a significant increase in revenue. The company's focus on Annual Contract Value (ACV) and Annualised Recurring Revenue (ARR) growth, along with the reaffirmation of guidance for ACV and ARR by 30 June 2024, indicates a positive outlook. The recent capital raise of $2.8 million, with a potential increase to $2.9 million, is expected to support the installation of new ACV and drive further sales growth. EP&T Global Limited has not reported any significant changes in its state of affairs during the financial half-year, and the Directors have prepared the financial report on a going concern basis, anticipating the realisation of assets and settlement of liabilities in the ordinary course of business.