• Secured first commercial PFAS treatment contracts in Sweden and UK
• Achieved 18-month contract extension for PFAS treatment in Western Australia
• Successful trials with major clients across mining and oil & gas sectors

SciDev Ltd (ASX: SDV) has provided an update on its financial and operational performance for the quarter ended 31 December 2024 (Q2 FY25). The company delivered quarterly revenue from operations of $23.8m, down 16% on the prior corresponding period (PCP) due to lower sales to Energy Services clients and the phasing of Water Technologies projects. However, the company's half-year performance remained consistent with H1 FY24, highlighting underlying growth. SciDev achieved positive cash flow from operations of $0.9m and had cash and cash equivalents of $10.9m as at 31 December 2024. A key highlight of the quarter was the company's strengthened market position in Europe, with the securing of its first commercial PFAS treatment contracts in the region. SciDev secured a contract in Sweden with Hydro Solutions AB for a containerised PFAS treatment system and a contract in the UK with a blue-chip Oil & Gas customer, also for a containerised PFAS treatment system. The company also secured an 18-month, $2.2m extension for the operation and maintenance of a PFAS water treatment facility with a blue-chip mining client in Western Australia. Additionally, SciDev achieved successful trials with major clients across the mining and oil & gas sectors, including securing a CatChek field trial with BPX and conducting plant trials of MaxiFlox chemistry for two new mining clients in Western Australia.

SciDev expects to deliver a strong second half of FY25, driven by improving market conditions in the oil and gas sector and anticipated policy decisions in the US that are expected to accelerate opportunities in both the Oil and Gas and PFAS treatment markets.

SciDev will focus on securing its first water technologies contract in the US as a key pillar of its global growth strategy, while also seeking to expand its market share in international mining and increase its footprint in the oilfield. Domestically, the growing awareness of PFAS as a critical environmental and human health issue presents a unique opportunity, especially with the tightening of drinking water regulations.