• Group Revenue of $48.5m for the 9 months to 31 March 2021, up 48.2% on pcp[1]
  • Group Gross Margin of 52% compared to 49% in pcp
  • Group EBITDA of $13.1m, up 138.3% on pcp
  • Group EBITDA margin of 27% compared to 17% in pcp
  • Strong financial position with consolidated net cash of $11.7m cash and no debt
  • Q3 FY2021 affected by COVID-19 and weaker US dollar, partly offset by provision of innovative customer solutions, highlighting Ava Group’s diverse geographic footprint and product portfolio
  • FY2021 Guidance: Group Revenue of $60-64m and Group EBITDA of $13-15m[2] (FY2020: Group Revenue of $46.1m and Group EBITDA of $7.4m).

NB: All figures compare 9 months to 31 March unless otherwise indicated; unaudited financial information (A$m)

Review Trading Update & FY2021 Outlook

Ava Risk Group Limited (ASX: AVA) (“Ava Group” or “the Company”) today provides a trading update for the nine months to 31 March 2021 and FY2021 guidance. Ava Group is a global leader in risk management services and technologies through Future Fibre Technologies (FFT) and BQT Solutions (BQT) and a provider of international secure logistics services via Ava Global Logistics.

Ava Group CEO Rob Broomfield said: “Despite the challenges associated with COVID-19, Ava Group has continued to deliver solid financial results for the nine months to 31 March 2021 highlighting the merits of our diversified business model and world-leading product portfolio. This has allowed us to adapt to rapidly changing circumstances to deliver innovative solutions and effectively manage costs. The strong performance of the Services Division illustrates its growing reputation for excellence and the highly scalable nature of its operations.

During the March quarter, the Technology Division was impacted by ongoing international travel restrictions resulting in delays to a number of major security-related contracts. However, we have a strong pipeline of growth opportunities and are well positioned to take advantage of pent-up demand for our products and services, as vaccination programs are rolled out, and travel returns. Building on the significant milestones achieved this year, we are excited about the FY2022 outlook and the opportunities to provide our customers with the most advanced and affordable security and risk management solutions.”

[1] Previous corresponding period

[2]  FY2021 guidance assumes no change to the exchange rate at 31 March 2021 with A$1 equal to US$0.7592.