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Etherstack Plc (ESK.AX) Half Year Results and Financial Report

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Etherstack Plc
Etherstack Plc

Etherstack Plc (ESK.AX) Half Year Results and Financial Report

Sydney, Australia, Aug 18, 2021 - (ABN Newswire) - Etherstack plc (ASX:ESK), the developer, manufacturer and licensee of mission critical radio technologies across the globe, is pleased to announce results for the half year ended 30 June 2021.

All amounts are in USD 000 unless otherwise specified.

Results Highlights

Revenue Growth: revenue is $4,316 up 79% on the prior corresponding period ("pcp"), with growth across all revenue streams:

o Recurring revenues from long term support contracts have increased 30% from pcp

o Royalty revenues driven by sales of licencee products which incorporate Etherstack technology and have increased 129% from pcp

o Strong project revenues

Strong EBITDA result: $1,451 EBITDA for the half year ($829 for the pcp)

Net profit after tax: $799 profit for the half year ($2,284 loss for the pcp)

Strategic Business development and contract wins:

o Samsung: In July 2021 Etherstack announced a $8,500 contract (AUD $11.6 million) with Samsung Electronics Co. Limited of Korea ('Samsung') to supply Etherstack network elements to Samsung for provision to a telecommunications carrier client of Samsung's. This is the first binding agreement with a carrier.

o Defence and Government: Etherstack was awarded contracts with UK Ministry of Defence and the Commonwealth of Australia.

o Resources: Etherstack won a follow-on order delivering technology to a Pilbara region iron ore mining company.

Reduced Borrowings: the Company continued to pay down debt during the first half of FY2021

Increased investment in R&D and development of new office and engineering facility in Sydney

To view full half year report, please visit:
https://abnnewswire.net/lnk/MW6EERS4


About Etherstack Plc:


Etherstack (ASX:ESK) is a wireless technology company specialising in developing, manufacturing and licensing mission critical radio technologies for wireless equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology and solutions can be found in radio communications equipment used in the most demanding situations. The company has Research and Development facilities in London, Sydney, New York and Yokohama.

Contact:

Etherstack
David Carter, Chief Financial Officer
T: +61 2 8399 7500
www.etherstack.com

Media: Walbrook Investor Relations
Mr. Ben Knowles
T: +61 426 277 760
ben.knowles@walbrookir.com.au

Source:
Etherstack Plc

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