FY23 Half-Yearly Results

Feb 28, 2023

We have just released our 2023 half-year results. Over the first 6-months of this financial year we have:

  • Delivered record revenue and strong EBITDA
  • Grown the diversity and scale of our client base
  • Continued to expand our highly skilled technical and sales teams
  • Helped our clients to improve operational efficiencies and reduce their environmental footprint.

SciDev CEO, Seán Halpin, addressing performance for 1H FY23, said, “The continued growth in our
revenue reflects the ongoing adoption of our chemistries and technologies as well as the growing
diversity and scale of our client base. Importantly the delivery of positive cashflow and EBITDA
demonstrates our focus on ensuring that we grow in a manner that will deliver ongoing returns to
our shareholders. We remain well capitalised to execute on our deep pipeline of projects and are
positioned to deliver sustainable returns for shareholders”

1H FY23 Financial Highlights
  • 1H FY23 revenue of A$49.5m (+105% vs 1H FY22)
  • EBITDA of A$2.5m
  • Net profit after tax of A$27k (31 December 2021: loss of A$1.8m)
  • Net cashflow from operations of A$2.3m
    Cash and cash equivalents of A$9.0m at 31 December 2022 and A$5.0m in inventory.
1H FY23 Operational Highlights
  • Continued to expand customer footprint in Energy Services, including an increased number of
    speciality chemistry product sales
  • Received an initial purchase order to supply an international exploration and production (E&P)
    company with our innovative co-polymer chemistry for use in North America, Saudi Arabia and
  • Secured a contract with Cleanaway Waste Management Limited, with a minimum contract value
    of A$2.15m, to deploy a Build Own Operate (BOO) water treatment plant (WTP) to treat per and
    Poly-fluoroalkyl substances (PFAS) impacted leachate
  • Seven operational PFAS treatment projects during the period generated A$4.3m in revenue
  • Post-period end, SciDev signed a three-year contract with Iluka Resources Limited, with an
    expected contract value of A$14.0m, to deliver MaxiFlox® chemistry to the Cataby Mineral Sands
  • Continued to expand our highly skilled staff with key hires across our technical and sales teams
    to fast-track delivery of our growing sales pipeline
  • SciDev consolidated and relocated multiple offices and operational sites into new headquarters
    in Seven Hills, NSW. Research and development activity and commercial chemistry production at
    the Seven Hills site are anticipated to commence in 2H FY23.

Get the full run-down here

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