• Q2 FY2025 revenue of $71.4m, up 10.7% vs pcp
• Q2 FY2025 EBITDA of $7.5m, up 31.5% vs pcp
• Q2 FY2025 net cash position of $2.2m, with $16.5m undrawn facilities

BSA Ltd has released its quarterly activities report, trading update and Appendix 4C cash flow statement for the quarter ended 31 December 2024 (Q2 FY2025). The company delivered Q2 FY2025 revenue of $71.4 million, an improvement of 10.7% versus the prior comparative period (pcp). Q2 FY2025 EBITDA of $7.5 million increased by 31.5% versus pcp, with the EBITDA margin for the quarter also increasing to 10.5%. BSA ended the quarter in a net cash position of $2.2 million, with $16.5 million of undrawn banking facilities available. The company also reported positive operating cash flows of $4.3 million for the quarter. During the period, BSA extended its nbn Unified Field Operations Services Contract through to 30 September 2025 with a 12-month extension option. The tender for the new nbn field services contract, in partnership with UGL, is also continuing. As a result of the improved performance and more certainty on contract timings, BSA has upgraded its FY2025 EBITDA guidance range to $26 million - $28 million, up from the previous range of $24 million - $27 million.

BSA expects the current profitability run-rate to continue over the remainder of FY2025 and has increased its FY2025 full year EBITDA guidance range to $26m - $28m (previously $24m - $27m).

BSA continues to deliver exceptional services to its clients and is focused on improving profitability through driving greater operational efficiencies. The company remains well-positioned with a strong balance sheet and ample liquidity to support its growth plans.