The Ava Group

AVA Appendix 4C

Ava Risk Group Limited (ASX: AVA), (“Ava Group” or “the Company”), a market leader of risk management services and technologies, today releases its cash flow report (Appendix 4C) and provides an update on the key areas of activity for the quarter ended 30 June 2020.

Review complete Appendix 4C

Principal Activities
Ava Group is a security technology and services company, that develops and commercialises a range of high security perimeter and access control products to protect military, government, industrial and commercial critical assets and infrastructure. These products are sold through its Future Fibre Technologies (FFT) and BQT Solutions (BQT) brands. In addition, the Company operates Ava Global, its international secure logistics division, delivering clients with reliable secure delivery for bank notes, precious metals, and other valuables.

Key areas of activity during the final quarter of the 2020 financial year related to:

Commentary on Appendix 4C Cash Flow Report
Net operating cashflows in the quarter were positive $4.0m an improvement of $2.9m on the previous quarter. This was due to increased cash collections from customers compared the prior quarter, up $6.7m, with much of this coming from improved trading by the Services Division. Associated operating costs were circa $3.8m higher compared to the prior quarter, driven by higher product manufacturing and operating costs which increased $2.8m compared to the prior quarter.  The Group also continued development of the Aura Ai and Aura IQ platforms, continuing its R&D spending and intellectual property spending during the quarter, but at a reduced level compared to the previous quarter.  

Cash receipts from customers in Q4 included $1.5m from the Indian MoD project.  The next payment from this project is expected during September, being an amount of USD$0.9m (A$1.3m), in line with the 120 days project payment terms.

At 30 June 2020 the Company had $7.9m cash at bank.

ENDS.

Approved for release by the Board of Directors.

For further information, please contact:

Rob Broomfield, CEO & Executive DirectorLeigh Davis, CFO & Company Secretary
Ava Risk Group LtdAva Risk Group Ltd
rob.broomfield@theavagroup.comleigh.davis@theavagroup.com
+61 3 9590 3100+61 3 9590 3103
  

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.

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.

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