Decmil reported a positive EBITDA of $2.6 million for H1 FY24, down from $3.3 million in H1 FY23, despite a $6.5 million loss on a single project.
Revenue decreased to $215 million in H1 FY24 from $255 million in H1 FY23, attributed to delays in contract commencements.
The company experienced a net loss after tax of $1.8 million in H1 FY24, an improvement from a $2.5 million loss in H1 FY23.
Decmil's cash position significantly improved to $25.5 million in H1 FY24, up from $3.7 million in H2 FY23.
The orderbook stands at $455 million, with active tenders submitted worth $1.3 billion.
FY24 revenue guidance is reaffirmed at $440 million to $480 million, with EBITDA guidance set at $15 million to $20 million.
Strategic focus on tendering for larger projects with more equitable risk allocations and forming high-quality joint venture partnerships.
Homeground's improved performance and increased occupancy lead to its reclassification as a non-current asset, contributing positively to EBITDA.
Decmil aims to capitalize on favorable market conditions across its core sectors, targeting growth and profitability in FY24.
This announcement is a summary of the company approved ASX announcement on 22/2/2024 and is based on facts.