EVZ LIMITED For personal use only
18 February 2022
ASX Appendix 4D
Half year financial report to 31 December 2021
1. | Details of reporting period | |||
Name of entity | EVZ Limited (ASX: EVZ) | |||
ABN | 87 | 010 550 357 | ||
Reporting period | 31 | December 2021 | ||
Previous corresponding reporting period | 31 | December 2020 |
2. Results for announcement to the market
Results Summary | FY2022 H1 | FY2021 H1 | Change | Change |
$ | $ | $ | % | |
Revenue from ordinary activities | 28,985,081 | 29,772,774 | (787,693) | -3% |
EBITDA | 1,454,911 | 3,385,236 | (1,930,325) | -57% |
Profit before finance costs and income tax | 623,676 | 2,562,853 | (1,939,177) | -76% |
Profit from ordinary activities before tax | 416,427 | 2,281,825 | (1,865,398) | -82% |
Profit from ordinary activities after tax | 407,660 | 2,271,965 | (1,864,305) | -82% |
Earnings per share (cents) | 0.42 | 2.36 |
3. | Net tangible asset backing | |||
31-Dec-2021 | 31-Dec-2020 | |||
Net tangible asset backing. Cents per share * | 13.4 | 11.7 |
- Net tangible assets per share includes right of use assets and associated lease liabilities recognised in the period under AASB16. Right of use assets have been classified as tangible assets to reflect the nature of the underlying asset.
4. Details of entities over which control has been gained or lost during the period
N/A
5. Details of dividends
No dividend has been paid or recommended to be paid for the period.
Appendix 4D Page 1
For personal use only
- Details of dividend reinvestment plans N/A
- Details of associate and joint venture entities N/A
- Foreign entities
N/A
9. Independent audit review
The financial report has been independently reviewed by Grant Thornton, who have issued an unqualified opinion.
10. Attachment
EVZ Limited Half Year Report for the half-year ended 31 December 2021
11. Additional Information
In addition to the attached consolidated half year financial statements, further information including financial analysis of the results is provided in the Half Year Investor update for 1HFY2022 which has also been released to the market today.
By order of the Board
P van der Wal
Company Secretary
Appendix 4D Page 2
For personal use only
EVZ Limited
Financial Report
For the half-year ended 31 December 2021
For personal use only
Table of contents | ||
Directors' report.............................................................................................................................. | ||
Auditor's independence declaration ............................................................................................. | 5 | |
Consolidated statement of profit or loss ...................................................................................... | 6 | |
Consolidated statement of comprehensive income..................................................................... | 7 | |
Consolidated statement of financial position ............................................................................... | 8 | |
Consolidated statement of changes in equity .............................................................................. | 9 | |
Consolidated statement of cash flows ........................................................................................ | 10 | |
Notes to the consolidated financial statements ......................................................................... | 11 | |
1. | Basis of preparation of half-yearfinancial report ............................................................ | 11 |
2. | Profit and loss .................................................................................................................... | 13 |
3. | Borrowings ......................................................................................................................... | 13 |
4. | Earnings per share............................................................................................................. | 14 |
5. | Intangible assets ................................................................................................................ | 14 |
6. | Segment information ......................................................................................................... | 15 |
7. | Contingent liabilities .......................................................................................................... | 19 |
8. | Events subsequent to reporting date ............................................................................... | 19 |
Directors' declaration ................................................................................................................... | 20 | |
Independent auditor's report ....................................................................................................... | 21 |
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For personal use only
Directors' report
Your Directors submit the financial report of EVZ Limited and its controlled entities (the consolidated entity or the Group) for the half-year ended 31 December 2021.
Directors
The names of Directors who held office during or since the end of the half-year are as follows:
- Graham Burns (Chairman)
- Robert Edgley
- Ian Luck
Review of operations
The operating profit before tax from continuing operations of the consolidated entity for the six months to 31 December 2021 was $416,427 (31 December 2020: $2,281,825). The net profit after tax for the six months to 31 December 2021 was $407,660 (31 December 2020: $2,271,965).
Revenues and net profit were reduced significantly due to project commencement delays, project construction shutdowns and operating capacity limitations in relation to the COVID-19 pandemic
No JobKeeper subsidy was received for the six months to 31 December 2021.
Changes in state of affairs
There were no significant changes in the state of affairs during the period.
Dividends
During the half-year to 31 December 2021 there were no dividends declared or paid.
Events subsequent to reporting date and outlook
The Group will continue its focus on investing in growth across all its businesses and on the reduction of debt and the improvement of balance sheet to support future growth.
Subsequent to the reporting date, the business secured a letter of intent from Viva Energy for three new 30ML diesel tanks at the Geelong refinery with the expected total contract value to be circa $40M.
There have not been any matters or circumstances, other than that referred to in the financial statements or notes thereto, that have arisen since the end of the half-year, that have significantly affected, or may significantly affect, the operations of the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity in future financial periods.
Auditor's independence declaration
The auditor's independence declaration under section 307C of the Corporations Act 2001 is set out on page 5 for the half-year ended 31 December 2021.
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EVZ Limited published this content on 17 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2022 22:27:21 UTC.
