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XTEK LTD H1FY2022 UPDATE
1 MARCH 2022
PRESENTED BY: SCOTT BASHAM
GROUP CHIEF EXECUTIVE OFFICER
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XTEK GROUP
XTEK Limited
XTEK Group is an ASX listed international Defence Industry advanced manufacturing and technology business.
The Group is comprised of XTEK Ltd and its wholly owned subsidiary HighCom Armor Inc. (US) and operates as
two distinct divisions - Ballistics Division & Technology Division.
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Ballistics Division
Focused on designing, manufacturing, and supplying global military, law enforcement, and first responder customers with world-class, advanced personal protection ballistic products and solutions under our HighCom Armor global brand for:
- Body Armour
- Ballistic Helmets
- Composite Structures
Technology Division
Focused on manufacturing and supplying global Defence and Security Agencies with world-leadingAustralian-made and globally sourced:
- Systems - UAVs & UGVs solutions
- Sensors - Chemical & Virus Detection
- Software - 3D Mapping & Modelling SW
- Tactical Targeting SW
- Support - System Integration, Training, & Service Support
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50% | 50% | 42% | 58% |
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- Restructure of Business Operations - Following strategic review to completion, very well progressed
- New CEO Appointed - Executing on restructure and turn around plan with new high energy team
- Focus on Sales - Key business development appointments made in Ballistics and Technology divisions, growing opportunity pipeline being pursued
- Cost Savings - Achieved annualised OPEX cost savings of circa $3m. Expecting benefit of at least $1.4m flow through in H2 FY22
- Financial Result:
- Revenue of $11.52m vs $12.40m pcp.
- Gross Margin of 27% vs 26% pcp
- Loss for the period $6.83m vs $3.54m pcp. (Includes non-cash impairment of $2.48m and redundancies costs $330k)
- Cash as at 31 Dec 21 of $4.49m
H1 FY2022 HIGHLIGHTS
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BALLISTICS DIVISION UPDATE
Ballistics Division
Division Headquarters located at HighCom Armor Inc. Columbus, OH, USA
BALLISTICS DIVISION
Overview
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Production facilities: | |
• | Columbus Manufacturing Centre (CMC), OH, USA |
• | Adelaide Manufacturing Centre (AMC), SA, Australia |
Focused on designing, manufacturing, and supplying global military, law enforcement, and first responder customers with world-class, advanced personal protection ballistic products and solutions encompassing:
use | Body Armour | ||||||
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• | Ballistic Helmets | ||||||
• | Composite Structures | ||||||
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Xtek Limited published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 22:43:04 UTC.