Key points
- First sales in the new renewables division
- Signed Distribution Agreement with Tratos Group
- Awarded first tender with Siemens Mobility
Full summary
Energy Technologies Limited (ASX: EGY) has released its 1H FY25 results for the period ending 31 December 2024. The consolidated net loss after tax and excluding non-controlling interest of the Group for the half year was $4,981,753, compared to a loss of $5,145,877 in the previous corresponding period. The company's wholly owned subsidiary, Bambach Wires and Cables Pty Ltd, reported a loss after tax of $3,963,969 compared to a loss of $4,445,620 in the previous corresponding period. During this period, the company continued to reposition both its offering and revenue profile, resulting in changes to the product mix and margin on products sold and accepted into the order book. This led to a 34% decrease in revenue, but the order book has now been replaced and currently sits at $2.72m at margins well above those forecast in the most recent updates. The company continues to be hampered by a lack of resources to deliver on this plan, despite the expansion of product through the Tratos and Gantner Distribution Agreements, and the successful tender with Siemens Mobility, which added $0.86m to the order book.