Back to Growth!

Another new beginning on Monday. Promises great things as the caretaker CEO makes way for what sounds like the real deal - Mal Maginnis.

I’m sure being based in Singapore, Mal has been given a full brief by the Chairman. Should see an uptick in activity as those in ‘comfortable’ positions will no longer be ‘comfortable’. I’m hearing good things about Mal. As no one seems to know our manufacturing capability across there on the East Coast, I hope Mal looks to offshore some of the assembly for increased capacity closer to the markets that really count. I also hope he focuses more on a proper global sales capacity (if you do a LinkedIn search it’s amazing the talent that has left Ava and gone on to do great things elsewhere over the last 18 months). I also hope he finally looks seriously at service revenue and a recurring revenue model. I’m also hoping under his tutelage the condition monitoring offerings get the development budget, welcomed collaboration and true support it needs to grow to maximise what competitive advantages are left.

As someone mentioned, Anglo seem to be the interested mining partner. I see on LinkedIn that the CEO of Mining3, who they collaborated on Aura IQ, is now the Head of Innovation at Anglo so that bodes well. If they have just won a contract in Brazil, then surely Vale is all over this solution as well. Future looks bright.

I see increased mentioning of telcos. Big money here. I was thinking maybe there’s a deal in Singapore been done with Singtel. Maybe also here with the likes of Vodafone, Optus or Telstra.

I hope they communicate the change well tomorrow. It’s important the market sees a change as they may recognise the different Fergus and Basham made. I’m picking 54c in 2023 off the back of a transformed business, discarded mom/pop culture, growth strategy, new innovation, and big wins in the mining and the telco sectors. Finally, back to growth!