Highlights for EOS as of 30th October 2020:- The major overseas...

Highlights for EOS as of 30th October 2020:-

The major overseas contract delivery process resumed, contract negotiations with the Commonwealth of Australia were successfully completed and new products were released.

R400 Dual Remote Weapon Systems (“RWS” is the market leader in range and precision for any stabilised weapon platform utilising 30x113mm cannon. The test data, taken during both day and night testing at ranges exceeding 2000m, extends the performance advantage of EOS in this market. This confirmation supports an accelerated delivery of EOS RWS against an existing contract and opens the way for additional sales.

EOS Space Systems was awarded an AU$5.1 million contract by the Australian Department of Defence for technical development. The contract commenced in Q4 2020 and will run for two years

Remotely Operated Combat Vehicles (“ROCV’s”
EOS RWS products are well suited to the emerging market for ROCV’s because of their market leading accuracy, reliability and light weight. The Company is participating in a number of tender opportunities for ROCV capabilities across multiple countries with a sales pipeline in excess of AU$1 billion

US Production of RWS Commences EOS Defence Systems US commenced production at the Huntsville Alabama plant during the quarter.

EOS Releases New “Mopoke” Counter Drone Product During the quarter EOS released the world’s first full-spectrum system for defence against attack from unattended aerial system (UAS) or drones.

2020 Full Year Guidance Maintained

EOS maintains the existing FY2020 profit guidance and notes that the risk-weighted pipeline remains strong at AU$3 billion with the order backlog unchanged. The outlook for FY2021 is for strengthening growth as activity deferred from FY2020 is caught up, backlog is processed and pipeline awards are made. EOS has an unrestricted cash balance of AU$79.4 million as at 30 September 2020.