Orcoda's Half-Year Financial Report for the period ended 31 December 2023

Orcoda Limited (ASX: $ODA) has released its Appendix 4D Interim Financial Report for the half-year ended 31 December 2023, showcasing a record-breaking performance. The company's total income surged by 48% to $14,481,656, with a remarkable 394% growth in Underlying EBITDA to $1,500,046 for the 1H FY2024. The report also highlights the acquisition of Future Fleet International Pty Ltd on 1 July 2023, contributing significantly to Orcoda's success.

Executive Commentary on Operational and Financial Highlights

Geoffrey Jamieson, Managing Director of Orcoda, expressed satisfaction with the company's exceptional performance in the first half of the financial year. He emphasized the successful acquisition of Future Fleet, which has provided substantial cross-selling and product integration synergy opportunities. Jamieson also highlighted the significant growth in the Transport Technology Division, driven by new SaaS contracts and the addition of Future Fleet, as well as the Infrastructure Services Division's successful execution of large contracts, contributing to the overall financial success of the company.

Outlook and Corporate Strategy

Looking ahead, Orcoda aims to continue delivering operational efficiency through its technology products and services to clients in the transportation, healthcare transport, infrastructure, and resources sectors. The company's primary growth strategy includes leveraging its technology products and infrastructure installation capabilities to meet the transport requirements for smart cities and transport corridors of the future. Additionally, Orcoda plans to review and pursue complementary and value accretive acquisitions to further enhance its market position and capitalize on the accelerating digital transformation across various industry sectors.