FY25 3Q Trading and Business Update
| Stock | Synertec Corporation Ltd (SOP.ASX) |
|---|---|
| Release Time | 5 May 2025, 9:54 a.m. |
| Price Sensitive | Yes |
Synertec Provides FY25 3Q Trading and Business Update
- Group revenue & other income up 7.7% on Q2
- Powerhouse contributed $1.4m in revenue YTD, up 117% on PCP
- Secured 32 new engineering projects during the Period, with 21 more since quarter end
Synertec Corporation Ltd (ASX: SOP) has provided an update on its activities for the quarter ended 28 March 2025 (FY25 3Q). The company reported group revenue and other income of $4.4m for the period, a 7.7% increase on Q2 revenue. Rolling 12-month group revenue and other income stood at $18.1m at the end of 3Q. The company's Powerhouse units continued to operate at greater than 99.9% availability, demonstrating their exceptional performance and benefits of autonomous control and Predictive Intelligence during severe weather events. Synertec has also secured significant bulk discount pricing on advanced battery technology for Powerhouse, improving its reliability, service life, and commercial competitiveness. The company's unique LNG Custody Transfer System gained US Patent approval, which is expected to expedite approvals in other jurisdictions. In engineering, Synertec secured 32 new projects during the Period, with a further 21 projects secured since quarter end, indicating improving trading conditions and margins.
Synertec expects to provide further updates on its strategic partnership with the world's largest battery manufacturer within 4Q, which will enable the company to participate in utility scale solutions requiring sophisticated control systems.
Synertec's Powerhouse team will be available at upcoming conferences in May 2025 to showcase the technology, and the company is working closely with a customer to plan for Powerhouse installations once flood waters dissipate in the Cooper Basin.