ess from the broker

INTERNAL ONLY

ESS 1H Result:

Headline numbers:

Revenue $20.4m (PSL $18.4m)
EBITDA $3.5m (PSL $3.4m)
EBIT $3.0m (PSL $2.9m)
Normalised NPAT $1.9m (PSL $2.0m)
Interim dividend declared 2.0cps
Quick comment:

Good underlying result, reflecting the strength of demand for mineral sampling equipment. Pre-tax profit was up 64% on the pcp.

ESS has secured an additional $4m in orders for its automated products over and above a pre-existing $7m order for SGS Minerals new Perth Airport lab. These orders will be filled over the remainder of the calendar year.

Automation is where we continue to see the upside for ESS, as the market is still developing and margins are considerably higher.
More to follow.