Sixth positive cashflow quarter and growing water treatment...

Sixth positive cashflow quarter and growing water treatment order book
SciDev Ltd (ASX: SDV) ('SciDev' or 'the Company') is pleased to provide an update on its financial and operational performance for the quarter ended 30 September 2023 (Q1 FY24).
Q1 FY24 Financial Highlights
Revenue of A$21.6m (-16% vs PCP but +13% on Q4 FY23) and cash receipts of A$19.3m. The reduction in revenue versus the PCP was primarily due to the impact of the lower natural gas price on market activity in the US Oil and Gas sector
Positive cashflow from operations of A$1.2m and underlying EBITDA of A$0.7m
Gross profit margin of 25% - in line with prior quarters
Cash and cash equivalents at 30 September 2023 of A$8m with A$8.2m in inventory.
Q1 FY24 Operational Highlights
Awarded A$4.6m Design and Construct contract with Acciona Construction Australia Pty Ltd
for two water treatment plants in Sydney, NSW, to support the construction of the Western
Harbour Tunnel
Secured a two-year contract at the Thunderbird Minerals Sands Project, which is expected to
generate approximately A$7.0m in sales over the period
Successful commissioning and start-up support to John Holland Group for a tunnelling project
in Australia for the supply of SciDev’s MaxiFlox® chemistry
Completed a six-well field trial with a blue-chip operator in the Permian Basin, with SciDev
chemistry subsequently adopted for ongoing operations
Secured purchase order from a blue-chip mining client in Western Australia for the supply and
support of multiple Water Quality Monitoring Systems into five operational mine sites
SciDev’s FlourofIX™ PFAS treatment technology was utilised on seven PFAS remediation
projects through the quarter, generating A$2.9m in revenue.