Orcoda is pleased to present its half-yearly financial results for the first half ending 31 December 2023, showcasing strong profitable growth across its divisions.
Highlights:
- Record half-yearly total income of $14.5m marking a 48% increase compared to 1H FY23.
- Transport Technology Division’s total income grew by 55%, driven by new SaaS contracts and contributions from Future Fleet.
- Infrastructure Services Division achieved a 48% increase in total income, attributed to ongoing project execution.
- Underlying EBITDA of $1.5m, an increase of 394% (vs 1HFY23), reflecting substantial growth and operational improvements that resulted in margin expansion.
- Consolidated profit after income tax from continuing operations of $0.6m, a significant turnaround from the previous corresponding period.
- Record customer receipts of $15.9m (+41% from 1H FY23) driven by strong momentum in our businesses.
- Operating Cashflow reached $1.9m with a net increase in cash and cash equivalents of $0.5m.
- Total cash and cash equivalents of $5.0m and overall net cash position as of 31 December 2023, showcasing financial strength and liquidity.
Looking ahead, Orcoda remains focused on driving operational efficiency, pursuing organic growth, and evaluating strategic acquisitions to solidify its position as a leading Intelligent Transport Management System provider, poised to capitalise on the evolving landscape of digital transformation in various industry sectors.
