Key points
- 20% FY24 revenue growth to $5.24 million
- Record annual net cash from operating activities of $1.90 million
- EcoQuip revenue up 67% to $1.95 million, Wescone revenue up 3% to $3.29 million
Full summary
Volt Power Group Ltd reported strong Q4 FY24 results, with 20% growth in full-year revenue to $5.24 million and record annual net cash from operating activities of $1.90 million. The company's EcoQuip business achieved ~67% growth in FY24 revenue to $1.95 million, while the Wescone business reported FY24 revenue of $3.29 million, exceeding the prior year by ~$0.1 million. During the quarter, EcoQuip expanded its mobile solar light tower trial with Chevron in the USA, and initiated deployments with Thiess at its Olive Downs mining site. Wescone secured a new distribution partner in Africa, Mineral Innovative Technologies (Pty) Ltd, to expand its reach in the region. The company also advanced an ATEN Concept Study with Synergy, the WA government-owned energy retailer and generator, highlighting the technical and commercial viability of installing Volt's ATEN waste heat to power system at an existing Synergy power station.