All posts by theavagroup

• Recently launched Aura Ai-2 secures further customer wins in the USA
• Existing global petrochemical customer to upgrade to Aura Ai-2 
• Aura Ai-2 to protect perimeter of high security US Government Facility 

AVA Risk Group Limited (ASX: AVA)announces that it has signed new contracts in the United States totalling circa A$691K (US$473K). 

Leveraging its advanced capabilities, Aura Ai-2 was selected to protect the extended perimeter of a petrochemical facility located in the US Gulf Coast region. Reflective of our innovation and product leadership, and customer centric ethos, this long standing customer is upgrading  the entire site from FFT Secure Fence to the latest generation Aura Ai-2 technology. 

A new US Government Facility located on the West Coast will use Aura Ai-2 to protect its  perimeter. This new contact follows the 27 May 2019 announcement regarding Aura Ai-2 being selected to protect the perimeters of two other high security US Government sites.

AVA Risk Group CEO Scott Basham said: “Aura Ai-2 continues to be adopted by high-security agencies for the protection of sensitive sites, borders and critical infrastructure, with particular momentum in North America. Both new and existing customers of FFT’s intrusion detection solutions can see the added benefits of the new Aura Ai-2 platform which includes bi-directional cut immunity and longest linear range in the market. With FFT’s SecureFence product already installed at hundreds of sites around the globe, we anticipate that many of our long-term customers who now understand the enhanced performance capabilities of our Aura Ai-2 technology, will be looking to upgrade to this new standard at the earliest opportunity.”

About the Ava Group 

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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. 

Contact

For more information on this announcement please contact Leigh Davis, CFO leigh.davis@theavagroup.com   

• Aura Ai-2 to protect perimeter at high security US Government sites
• North American Nuclear Power Plant to deploy Aura Ai-2
• Significant interest in Aura Ai-2 for protection of critical national infrastructure

AVA Risk Group Limited (ASX: AVA) has secured two new contracts for FFT Aura Ai-2 valued at A$862K. Aura Ai-2 has been selected to protect the perimeters of two high security US Government sites, as well as a North American Nuclear Power Plant. 

These orders for Aura Ai-2 are to be used to protect important national critical infrastructure in North America, follow on from the on 24 May 2019 announcement that the Indian Air Force has also selected this award-winning, best in class technology to protect 23 airbases.

Often selected by high-security agencies for the protection of highly sensitive sites, borders and critical infrastructure, Aura Ai-2 offers the longest linear range in the market, up to 80km for fence mounted and 110km for buried applications. With real time, simultaneous detection on two channels, the system offers uninterrupted coverage through cut resilience immunity and redundancy.

AVA Risk Group CEO Scott Basham said: “We continue to see significant interest in the unique Aura Ai-2 capabilities, including precise location of intrusion attempts and the ability to continue to protect perimeters even if the sensing cable is cut, for the protection of critical infrastructure globally. Pleasingly, this North American win follows previous successful deployments of FFT Aura Ai-1 on a Nuclear Power plant in the middle east, and positions FFT for future growth in this important market globally.”

Providing industry leading accuracy and artificial intelligence algorithms, Aura Ai-2 is fast becoming the solution of choice for the protection of highly sensitive, critical infrastructure around the globe.

About the Ava Group

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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.

Contact For more information on this announcement please contact Leigh Davis, CFO leigh.davis@theavagroup.com

• Integrated security solution to be deployed across 23 airbases over 18-24 months
• US$3.5 million (A$5.0 million) contract is expected to be in place within six weeks
• FFT offered only compliant solution for both buried and fence mounted applications

Ava Risk Group Limited (ASX: AVA) announces that its FFT Aura Ai-2 product has been selected as part of a comprehensive perimeter security upgrade program covering major air bases across India as a result of the heightened security environment in the region.

The US$3.5 million (A$5.0 million) contract will see FFT Aura Ai-2 deployed as part of an integrated security solution at 23 military airbases over a period of 18 to 24 months – commencing in Q1 FY20. The integrated security system will include “smart fences” with FFT’s Aura Ai-2 installed along with CCTV cameras, infra-red devices, motion detectors, anti-penetration, thermal and other sensors, backed by drones and surveillance devices.

In competitive on-site trials, Aura Ai-2 was tested alongside alternative intrusion detection technologies for simultaneous buried and fence mounted applications. Results demonstrated that FFT was the only solution capable of meeting the customer’s stringent detection requirements (walker, vehicle, fence cuts and climbs, simultaneous events), integration prerequisites and low nuisance alarm levels.

Ava Group CEO Scott Basham said: “The success of FFT’s Aura Ai-2 product in this competitive and challenging trial is reflective of the power of our Aura platform and the  continuous improvements we have made since its launch in early 2017. This has resulted in the release of Aura Ai-2 for buried applications, followed by further enhancements which included accurate detection, location and reporting of multiple disturbances to within +/- 2m on fences and to within +/- 5m for buried applications. As a result, FFT’s Aura Ai-2 now clearly leads the market with its unrivalled high-sensitivity detection, location accuracy, cut resilience capability, low nuisance alarms, and the longest linear range of any solution currently available.”

Refer to Note 1 attached.

About the Ava Group

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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.

Contact

For more information on this announcement please contact Leigh Davis, CFO 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.

• Appointment of sales executive in North America to fill vacancy
• Renewed focus on Oil & Gas infrastructure and pipeline protection opportunities

AVA Risk Group Limited (ASX: AVA) continues to expand its sales team with the appointment of Michael Brewster as Business Development Manager Oil & Gas – North America. This follows the recent appointment of sales executives in Africa and Latin America.

With an extensive security background in critical infrastructure (Oil & Gas, Energy, Petrochemical and Transportation), Mike joins the AVA team’s Technology Division from TSI Professionals where he was Business Development Director responsible for cybersecurity and physical system security and services. Previously Managing Director of SSC and TSC Group, Mike not only brings significant management and business development experience in security systems integration and monitoring services to the Company, but insights into the broad range of opportunities available across the United States.

AVA Risk Group CEO Scott Basham said: “With our range of fibre optic perimeter security solutions actively protecting Oil & Gas facilities around the globe, we are focused on pursuing opportunities that leverage this experience and further strengthen our market leading position in this sector. As Business Development Manager Oil & Gas – North America, Mike will renew focus on critical infrastructure and pipeline protection opportunities for our PIDS and pipeline applications. I would like to welcome Mike to the AVA team.”

About the Ava Group

The Ava Group 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.

Contact: For more information on this announcement please contact Leigh Davis, CFO leigh.davis@theavagroup.com

AVA Risk Group Limited (ASX: AVA), a market leader of risk management services and technologies, announced today that it had received formal confirmation that the Purchase Order has been received and accepted by its in-country manufacturing partner, SFO Technologies Private Limited (SFO) in respect of the major Letter of Intent award announced to the ASX on 5 September 2018, as updated:

• SFO has formally notified Ava that the Purchase Order has now been received and accepted.
• Ava will receive an estimated US$11.9m (A$16.86m) over the next 14 months, paid as license fees.
• Based on the current production and delivery schedules, it is anticipated that between US$0.35m and US$1.0m (A$0.5m and A$1.5m) revenue will be generated in FY2019 with the remaining revenue of between US$11.55m and US$10.9m (A$16.36m and $15.4m) expected in FY2020.
• In addition, there is expected to be further revenue after the initial 3-year warranty period from a subsequent 7-year spares and maintenance contract, which has been estimated at US$3.4m (A$4.8m) over the warranty period.
• Given the licence fee nature of the project, the contract will be highly profitable for Ava Group. Moreover, it’s expected that the project win should lead to further opportunities in the secure data network market.
• Under the revised contract terms, Ava will be paid on 120-day terms (ex-works) and benefit from a bank guarantee equivalent to 200 units of product (circa 20% of total production volumes).

Ava Group Chief Executive, Scott Basham said: “This large-scale deployment of our data network security solution will generate further interest in our cybersecurity solutions and contribute significant earnings in FY2020 and beyond”.

Refer to Note 1 attached.

About the Ava Group

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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.

Contact

For more information on this announcement please contact Leigh Davis, CFO 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.

AVA Risk Group Limited (ASX: AVA), is pleased to report that it has received the first purchase orders for BQT smart readers from the Department of Human Services (DHS). Details of the Australian Government contract were previously announced to the market in mid 2018. 

The contract estimates that requirements will be for the provision of approximately 6,500 readers and additional associated equipment over a planned implementation period of approximately two years.

Estimated revenue from DHS over the contract period at the anticipated volumes is expected to be A$1.8 million to A$1.9 million. It is noted that the Australian Government reserves the right at its absolute discretion to vary the requirements and the implementation period.

Under the terms of the contract, the high security smart reader solution proposed by AVA and accepted by the end-user, will also be available to all Australian Government departments as part of the tender conditions and subsequent contract award. This may facilitate direct sourcing opportunities for other government departments.

AVA Risk Group CEO Scott Basham said: “BQT’s custom high security smart cards and biometric readers have been trusted to protect access to some of Australia’s most critical government facilities for more than a decade. In fact, BQT has been selected as the provider of choice for numerous government facilities around the globe. With its comprehensive portfolio of innovative, high-security solutions, we are confident that BQT’s footprint will continue grow in government and other key strategic sectors.” 

About the Ava Group

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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.

Contact

For more information on this announcement please contact Leigh Davis, CFO 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.

AVA Risk Group Limited (ASX: AVA), a market leader of risk management services and technologies, announced today that it had concluded contract negotiations with its in-country manufacturing partner, SFO Technologies Private Limited (SFO) in respect of the major Letter of Intent award announced to the ASX on 5 September 2018, as updated:

• SFO has formally notified Ava that contract negotiations with the prime contractor are now complete and the formal PO will be issued to SFO next week.
• The value of the licence fee has increased, and it is now estimated that Ava will receive US$11.9m (A$16.86m) over the next 14 months.
• Based on the current production and delivery schedules, it is anticipated that between US$0.35m and US$1.0m (A$0.5m and A$1.5m) revenue will be generated in FY2019 with the remaining revenue of between US$11.55m and US$10.9m (A$16.36m and $15.4m) expected in FY2020.
• In addition, there is expected to be additional revenue after the initial 3-year warranty period from a subsequent 7-year spares and maintenance contract, which has been estimated at US$3.4m (A$4.8m) over the warranty period.
• Given the licence fee nature of the project, the contract will be highly profitable for Ava Group. Moreover, it’s expected that the project win should lead to further opportunities in the secure data network market.
• Under the revised contract terms, Ava will be paid on 120-day terms (ex-works) and benefit from a bank guarantee equivalent to 200 units of product (circa 20% of total production volumes).

Ava Group Chief Executive, Scott Basham said: “The finalisation of the contractual negotiations for this contract represents a major milestone for Ava Group. Significant profits will be delivered from this award and when combined with our laser focus on profitable growth, Ava is extremely well positioned to capitalise on our strong base of leading products to deliver strong financial returns for our shareholders in FY2020 and beyond”.

Refer to Note 1 attached.

About the Ava Group

The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) 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.

Contact

For more information on this announcement please contact Leigh Davis, CFO 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.

• Appointment of sales executives in Africa and Latin America to fill vacancies
• Renewed focus on technology related security opportunities in these regions
• Key markets for perimeter, pipeline and new Aura Ai / Mining3 applications

AVA Risk Group Limited (ASX: AVA) has renewed its focus on technology related security opportunities in Africa and Latin America with the appointment of experienced sales executives in each region.

JC Grobbelaar joins the AVA team’s Technology Division as Business Development Manager – AFRICA. With an extensive security background, particularly in critical infrastructure within Africa’s mining sector, JC will bring focus on technology related opportunities for the company’s PIDS and pipeline applications. JC has extensive management and business development experience within the Security Integrator Market, as well as with African and global multinational mining, energy, engineering, industrial, civil, governmental, airports, customs and prison clients. Prior to joining AVA, JC was Business Development Manager (Africa) at Gallagher and held the position of Regional Director, Integrated Electronic Solutions G4S North and West Africa.

Andres Cuervo Salazar also joins the AVA team’s Technology Division as Business Development Manager – LATAM (North) Based in Colombia, Andres will focus on sales opportunities for FFT and BQT solutions in LATAM “North” (Mexico, Caribbean, Central America, Colombia, Ecuador & Venezuela). An experienced sales and marketing professional, Andres previously joined the Safran Group with Morpho Identification division and then he was promoted internally taking care of LATAM Regional Sales Direction at Morpho Detection International LLC, for over 11 years, managing the totally regional distributor network. Most recently with Smiths Detection; where he had as well the regional commercial responsibility for the detection division.

AVA Risk Group CEO Scott Basham said: “Africa and Latin America offer significant technology related opportunities for our perimeter intrusion and pipeline security applications. They are also key markets for AVA’s advanced predictive conveyor belt monitoring system – representing 35 percent of the total addressable market for the Aura Ai based performance management solution. The addition of JC and Andres to AVA’s on-ground teams in Africa and Latin America provides renewed focus as we work to capitalise on local opportunities for FFT and BQT products and grow our presence in these regions.”

About the Ava Group

The Ava Group 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.

Contact

For more information on this announcement please contact Leigh Davis, CFO leigh.davis@theavagroup.com

• Strong backlog supports future improvement in cashflow
• Indian MoD contract delays nearing resolution
• Final stage negotiation for large program orders for new locking product
• First orders for Aura IQ Product opens up $300M new market
• Consolidated cash position of $0.9m

Click here to read the full announcement

Ava Risk Group Limited (ASX: AVA), a market leader of risk management services and technologies, today released its Appendix 4C for the quarter ended 31 March 2019.

Reflective of the previously reported delay in orders received during Q2 FY2019, along with payment terms (timing) of orders received, net operating cash flows were negative $1.9m for the quarter, compared to positive $0.7m during the previous quarter. Cash receipts from customers were down $2.2m on the previous quarter to $7.4m.

At 31 March 2019 the Company had orders in hand (backlog) in excess of $3.6m, and $0.9m cash at bank. Cash at bank was $0.6m below expectations as a cash refund from the AusIndustry R&D programme anticipated to be received during the quarter was delayed, and has been subsequently received in early April.

Excluding cash inflows from customer payments, and other sources, gross operating cash outflows are forecast around $8.7m for next quarter, a $0.4m reduction compared to the quarter just ended.

Ava Group Chief Executive, Scott Basham said: “With a restructure of our management team and a re-focus on profitable growth, Ava is well positioned to capitalise on our strong base of leading products, increasing gross margins and a large order book to support a greatly improved and profitable Q4 FY2019 and FY2020”.

The softer than expected booking of orders in H1 by the Technology Division has seen an obvious follow on tightening of our cash position in Q3.

The delay of inflows originally expected for the Technology Division from the Indian MoD order, has impacted short-term working capital.  However, recent purchase order activities by the Prime Contractor in India on this project with other sub-suppliers and OEMs, indicates that a level of momentum is now very much underway.

Our expectations remain that the revenue forecast for this project in FY2019 (A$500k to A$1.5M) will be forth coming in Q4 FY2019, with the balance of the USD$10.5M to USD$11.1M (A$14.8M – $15.7M) to follow in FY2020.

The business has restructured its management team to reduce overhead, right size our cost base, and manage our reduced working capital position.  Ava Group has achieved on-going cost savings compared to H1 FY2019 of $1.2m p.a. This is in addition to the $1m p.a. achieved following the acquisition of MaxSec Group last year.  The business is fundamentally well positioned for growth and future success, with a strong backlog of purchase orders received in Q3, currently in excess of $3.6M, the majority of which is remains on track for delivery this financial year.

Included in the Q3 backlog is the first purchase order for $249K, under the agreement with Dept. of Human Services (DHS) for Electronic Access Control System (EACS) card readers, with the bulk of this $1.8M project being expected to be delivered in 1H FY2020.

The Technology Division is also currently in the final stage of negotiations with a major overseas customer for a significant (5 year) long term order to deliver large-scale fixed monthly quantities of one of our world-leading and award-winning locking products.  This order will require a sizable expansion of specific parts of our existing production capabilities to meet not just the supply demands of this order, but the expectations of similar large-scale orders from elsewhere around the world for this unique product.  This specific order will significantly change the underlying size of the business and will create strong profitable revenue streams for the company going forward in FY20 and beyond.

The Technology Division is also in the final stages of preparations to launch our new Aura IQ product for conveyor belt assurance monitoring. The first customer orders have been received, and installations are underway. The Aura IQ solution opens up a new $300M+ revenue market opportunity for the Technology business.

Total Technology Division revenue is still forecast to be in excess of A$18.0M for FY2019.

The Technology Division continues to forecast it will be EBITDA positive in 2HFY2019 and is confident of increasing its revenues and delivering profits in FY2020 and beyond.

Total Services Division revenue forecast for FY2019 has reduced slightly to A$16.4M to A$17.1M.

The Services Division is forecasting to be EBITDA neutral in the current quarter.

Click here to read the full announcement

About Ava Group

Ava Group is a market leader 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, a range of high security locks 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

Ava Group (AVA), a market leader in security risk management services and technology will be showcasing its portfolio of security solutions at ISC West – Las Vegas, booth 25103.  ISC West is the largest converged security industry trade show in the US with the exhibition taking place from April 10-12^th. The event provides a major platform for professional networking, sourcing new suppliers and introducing new products and technologies, encompassing everything from access control to unmanned vehicles. ISC West also includes the SIA Education@ISC conference programme, running from April 9-11^th.

Ava Group’s technology division incorporates two well established security risk management companies – Future Fibre Technologies (FFT) and BQT Solutions, both of which will be on the booth this April. As a market leader in risk management services and technologies, Ava Group offers a portfolio of complementary solutions encompassing both fiber optic intrusion detection as well as high security access control and locking. Ava Group is proud to present the latest solutions from its technology division, namely the Orca lock and latest enhancements to the Aura Ai-2 controller.

The enhanced Aura Ai-2 from Future Fibre Technologies features unrivalled high-sensitivity detection, location accuracy, cut resilience capability and the industry’s longest linear range. This market-leading product features new ultra-low noise optical detection electronics. This ensures a single controller can cover a distance up to 110 kilometers, accurately detecting, locating and reporting multiple disturbances to just +/- two meters.

BQT Solutions will be demonstrating the new high-strength Orca lock (YG80) – providing ultimate security for all environments. Building on the success of the award winning YG10, the Orca lock is designed for securing gates, roller doors, shipping containers and any other large door or entryway. Alongside the Orca’s impressive physical attributes, a unique feature is its ability to fully integrate into an access control system, surpassing any other solutions available in the market. Orca is fully monitored, weatherproof, and user configurable – providing the perfect indoor and outdoor locking solution.

As well as getting to know the product range, the Ava Group team will be on hand to explain how its solutions are being used in real-world projects to address the latest threats. Newly appointed Chief Executive Officer, Scott Basham commented, “We’ve seen continued growth in demand for our products in the US market and returning to ISC West provides us with a perfect platform to showcase our broad range of capabilities and explain to visitors how our product range can be applied to meet their particular needs. We always welcome the opportunity to be face-to-face with our customers worldwide and thoroughly enjoy being able to engage directly with the market in this way.”

Alongside their presence in the exhibition hall, Ava Group’s CTO – Technology, Dr Jim Katsifolis will be presenting ‘Fiber Optic Perimeter Intrusion Detection Systems (PIDS): Trends, Myths and Realities Revealed’ 10:15am on April 9^th, Sands 302. This presentation promises to cover how best to select appropriate fiber sensing technology products when specifying, as well as how to assess the true performance of such PIDS systems.

With over 1,000 exhibitors and brands and an anticipated 30,000 security professionals, ISC West is a must-visit for anyone in the security risk industry.

ABOUT AVA GROUP

The Ava Group is a market leader 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 and location for perimeters, pipelines and data networks, access control and locking as well as secure international logistics, storage of high value assets and risk consultancy services. 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.