$20M Increase in Bank Facilities to Support Growth

• SKS Technologies Group Ltd secures additional $20M in bank guarantee facility
• Total bank facilities now at $52M, up 6.5x in less than 4 years
• Expanded facilities to support aggressive organic growth strategy

SKS Technologies Group Limited (ASX: SKS) has been approved by CBA for a further $20 million in its bank guarantee facility. With the additional funds, the total bank guarantee facility now sits at $48 million. The company's total bank facilities, including the equipment financing facility, now total $52 million. In the three and three quarter years since the company first secured its bank facilities, it has secured at least one material increase each calendar year to strengthen the necessary liquidity to support a rapidly expanding order book. These continual funding increases have given SKS the capacity to execute confidently, invest in delivery capability and manage working capital through growth cycles.The CEO, Matthew Jinks, believes the company has capitalized on these opportunities by continuing to make judicious capital allocation decisions, maintaining a disciplined cost approach and focusing on converting the pipeline to the order book, and the order book to revenue.The significantly expanded bank facilities will continue to support the aggressive organic growth strategy that the business has prosecuted over the past four years. Since the beginning of FY23, work on hand has increased by a multiple of more than 9 times, currently sitting at $355 million. Likewise, the pipeline of projects under tender has also vastly increased, now sitting at approximately $1.25 billion.

The significantly expanded bank facilities of $52 million will continue to support the aggressive organic growth strategy of SKS Technologies Group Ltd.

SKS Technologies Group Ltd is well-positioned to execute its aggressive organic growth strategy with the support of the significantly expanded bank facilities of $52 million.