All posts by katiepaynter

Dear Valued Customer,

Last week, the World Health Organisation declared COVID-19 a global pandemic. We want to assure you that Ava Group have a robust COVID-19 Pandemic Crisis Management Plan in place to protect the health and wellbeing of our employees, whilst ensuring that we continue to deliver a high-level of service to our customers.

We are currently on high-alert and the Ava Group management team is meeting regularly to ensure that we are able to react quickly in the event of a worsening situation and to ensure that all employees receive ongoing education and information on best hygiene practises. Utilising the information available from the World Health Organisation and the Federal Department of Health, we have already implemented the following measures:

• All work-related international travel is restricted and requires CEO approval
• All work-related interstate travel to be reviewed on a case by case basis
• Employees that holiday overseas are required to self-quarantine for 14 days prior to returning to work
• Where possible, employees have been encouraged to work from home using laptops with a secure connection to our network and mobile phones to remain in regular contact.

While the safety of our employees is paramount, we remain committed to proactively managing our production and delivery timelines to meet the ongoing needs of our customers. With manufacturing primarily based Australia, we are at least geographically isolated which may lessen the impact on our workforce. For now this threat remains low, but as the pandemic continues, the potential for product delay grows.

We will continue to monitor and respond to this evolving situation as needed. However, during these uncertain times we encourage our customers to place purchase orders for priority projects as soon as possible to ensure timely fulfilment and delivery.

We trust that the this information provides reassurance that we are proactive in our approach to the safety of our employees and ensuring the capacity to deliver a high-level of ongoing service to our customers. We will continue to work closely with our suppliers and logistics operators to ensure any business disruptions are minimal.

If you have any further questions in relation to the Ava Group’s COVID-19 Pandemic Crisis Management Plan, please do not hesitate to contact me.

Yours Sincerely,

Scott Basham
Ava Group CEO

• $0.2m improvement in operating cash outflows on PCP
• Debtors balance increase of approximately $2.0m primarily due to Indian MoD and shipment timing for FFT orders
• Consolidated net cash position of $3.1m

Ava Risk Group Limited (ASX: AVA), a market leader of risk management services and technologies, today released its Appendix 4C for the quarter ended 30 December 2019. 

Click here to read the full announcement

Summary of Results
It was another quarter of strong revenue achievement with the group meeting guidance of $9m or more for Q2 FY2020 and $19m or more for H1 FY2020 on an unaudited results basis, excluding Indian MoD. Importantly, these results reflect continued revenue forecasting consistency.

This excellent revenue performance, along with operating efficiency strategies delivered a positive EBITDA result for the half year, a turnaround of more than $3m compared to the same time last year.

Net operating cashflows in the quarter were negative $0.2m a decline on the previous quarter. This was due to lower cash collections from customers compared the prior quarter, with a number of FFT orders shipped late in Q2 FY2020.  The group also increased R&D spending during the quarter, and continued to further develop the Aura Ai and Aura IQ platforms. In addition, payment of annual insurance premiums during the quarter contributed to the higher operating cash outflows compared to the previous quarter.   

At 31 December 2019 the Company had $3.1m cash at bank.

The group expects to achieve sales revenues A$11m or more for Q3 FY2020, including A$9m or more from the underlying business, and A$2m or more in licencing income from the Indian MoD project.

About Ava Group
The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT), and international secure logistics services division Ava Global,  is a market leader in the provision of risk management services and technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.

The Group features a range of complementary solutions including intrusion detection for perimeters, pipelines and data networks, biometric and card access control as well as the secure international logistics and storage of high value assets. Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.

Our business truly serves a global market, with our knowledgeable team spread across six continents, providing market and industry expertise directly to customers. With thousands of sites protected, the Ava Group is proven to deliver first class services and technologies that surpass the expectations of our partners and end users.

For further information contact: Leigh Davis leigh.davis@theavagroup.com

Note 1

Forward Looking Statements
Information in this release is for general information purposes only. Certain statements in this document regarding the Company’s financial position, business strategy and objectives, contain forward-looking statements (rather than being based on historical or current facts) and as such, are not able to be verified.

All forward-looking statements are based on the current views of the Company’s management as well as reasonable assumptions made by, and information currently available to the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that some or all of the underlying assumptions will prove to be valid. If assumptions are invalid this is likely to have an impact on the accuracy of the statement itself.

All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to a variety of risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Forward looking statements are also subject to external matters outside the control of the Company.

To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward looking statements) in this presentation to reflect any change to expectations or assumptions; and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content.