Arowana International Reports Financial Results For the Six Months Ended December 31, 2019
27 February 2020 - 4:51PM
Business Wire
Record Half Year Group Revenues Up 42%
to $68.6M
Hyperturnaround for Vivopower With
Revenue Up 78% to $47.0M
Group EBITDA up Materially to $3.6M for the
Period
Arowana International Limited (ASX: AWN) (“Arowana” or the
“Company”), a B Corp certified operator of small and medium-sized
enterprises today announced its results for the six months ended
December 31, 2019.
Highlights for the six months ended December 31, 2019:
- Consolidated group revenues of A$68.6m, up 42% period on period
(PoP);
- Results primarily reflect very strong growth for VivoPower,
which grew statutory revenues by 78% versus PoP to A$47.0m, driven
by record results for the Aevitas businesses in Australia;
- EdventureCo statutory revenues of A$21.1m in line with the
previous corresponding period; solid revenue growth in Everthought
offset by marginally lower revenue in DDLS reflecting commencement
of the strategic transformation of its sales architecture as well
as the launch of Philippines JV and the Australian Institute of
ICT;
- Arowana Funds Management (AFM) revenues of A$0.5m, reflecting
aggregate AUM (Assets Under Management) being relatively stable at
A$147m as at 31 December 2019 (30 June 2019: A$150m); Arowana
Impact Capital established in Singapore; and
- Statutory group EBITDA of A$0.1m; underlying EBITDA improved to
A$3.6m from A$2.5m in PoP.
Kevin Chin, Arowana’s CEO, commented, “The results evidence the
transformation of VivoPower into a growth business, primarily due
to the strong performance and outlook of the Aevitas business unit
in Australia. We have also commenced our strategic transformation
of EdventureCo, with a focus on transitioning the business to
higher quality and higher margin revenue streams. To this extent,
significant investment has been made to open the first DDLS campus
in the Philippines which has started generating above budget
revenues. In addition, the Australian Institute of ICT has been
launched to prepare students to meet the growing and unmet demand
for talent in cybersecurity, development and IT.”
Disclosure
NOTE: References to “underlying” information is to non-IFRS
financial information prepared in accordance with ASIC Regulatory
Guide 230 (disclosing non-IFRS financial information) issued in
December 2011. Non-IFRS financial information has not been subject
to audit or review.
About Arowana
Arowana is an ASX-listed operator of small and medium-sized
enterprises and a B-Corp certified company. As operators and
investors with a contrarian, long term mindset focussed on scaling
up sustainable enterprises, Arowana’s purpose is to grow people,
companies and value.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200226006098/en/
Arowana Investor Relations Benn Lim (02) 8083 9800
investorrelations@arowanaco.com
AWN (ASX:AWN)
Historical Stock Chart
From Nov 2024 to Dec 2024
AWN (ASX:AWN)
Historical Stock Chart
From Dec 2023 to Dec 2024
Real-Time news about AWN Holdings Limited (Australian Stock Exchange): 0 recent articles
More Arowana Fpo News Articles