Quarterly Activity Report and Appendix 4C for the Quarter Ended 30 June 2024

The consolidated entity consisting of Electro Optic Systems Holdings Limited and the entities it controls (“EOS” or the “Group”) has filed its Appendix 4C and provides the following update on its activities for the quarter ended 30 June 2024.

OVERVIEW

• Cash Receipts from Customers for the quarter were $68.3m, up $7.2m compared to Q2 2023, and up $16.2m compared to Q1 2024.
• Other cashflows from operating activities (excluding cash receipts from customers) during the quarter amounted to net payments of $76.3m. This is an increase of $1.7m compared to Q1 2024 and an increase of $16.5m compared to Q2 2023.
• Cash interest and finance costs decreased during the quarter compared to Q1 2024 due to repayment of one of the working capital facilities in the period.
• Net Cash used in Operating Activities during the quarter was an outflow of $8.0m, a $14.6m improvement compared to Q1 2024.
• Net Cash received from Investing Activities was $7.0m during the quarter, including $8.3m received from reduced collateralisation of security deposits.
• Net Cash used in Financing Activities was $20.0m. This included the impact of a planned $20.5m debt repayment in April 2024, and the receipt of $1.7m of net proceeds from the issue of equity securities under the SPP in April 2024 and was partially offset by other items.

EOS’ cash balance at 30 June 2024 was $52.2m, representing a decrease of $20.2m from the 31 March 2024 cash balance of $72.4m.

On 16 July 2024 EOS also announced a 92% increase in H1 unaudited revenue to $142.6m.

After the end of the quarter, in July 2024, EOS entered into an agreement with a cannon supplier to buy cannons and related supplies over a 3-year period, for a total commitment of approx. US$70m (approx. A$104m).

Continue reading the full Quarterly Activity Report here