Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

ENERGY TECHNOLOGIES LIMITED Annual Report 2020

Aug 30, 2020

64831_rns_2020-08-30_2e53c687-3b41-49a3-aefd-1c327d286573.pdf

Annual Report

Open in viewer

Opens in your device viewer

Appendix 4E Preliminary final report

APPENDIX 4E

Preliminary final report

1. Company Details

Name of entity

ENERGY TECHNOLOGIES LIMITED

ABN or equivalent company
reference
Financial year ended (‘current
period’)
38 002679469

30 June 2020
2. Results for announcement to the market		 ABN or equivalent company
reference
Financial year ended (‘current
period’)
38 002679469

30 June 2020
2. Results for announcement to the market		 Financial year ended (‘previous
period’)
30 June2019
$A'000		 Financial year ended (‘previous
period’)
30 June2019
$A'000
2.1 Revenues from operating activities
2.2 Profit from operating activities after tax
attributable to members
2.3 Profit for the period attributable to members		 Down
20%
to
10,126
Down
414%
to
(4,402)
Down
414%
to
(4,402)
2.4**Dividends ** Amountper security Franked amountper security
Final dividend NIL NIL
Interimdividend NIL NIL
2.5 Record date for determining entitlements to the
dividend		 Not applicable
2.6 Brief explanation of any of the figures in 2.1 to 2.4 necessary to enable the figures to be understood:
Revenue from operating activities, 2.1 above, excludes $513,000 job keeper assistance received under federal
government legislation in support of business, refer Note 2, Revenue from Continuing Operations.
Energy Technologies Limited (EGY) has reported a consolidated loss for the year after tax and minority interests
of $4,402,220 (FY2019 profit of $1,403,557). The FY2019 result included a $5,357,429 profit on the conversion of
debt to equity.
The FY2020 results include a loss after tax of $3,374,589 (FY2019 loss of $2,650,579) reported by subsidiary
Bambach Wires and Cables Pty Ltd (BWC).
There will be further discussion of the result below.

30/06/2020

Appendix 4E Page 1 of 17

Appendix 4E Preliminary final report

3. Details of Individual and Total Dividends

Date
dividend is
payable		 Amount per
security		 Franked
amount per
security at
30% tax		 Amount per security of
foreign source dividend
Final dividend:Current year
Previous year		 -¢
-¢		 -¢
-¢		 -¢
-¢
Interim dividend:Current year -¢
-¢		 -¢
-¢		 -¢
-¢

Previous year

Total dividend per security (interim plus final)

Ordinary securities
Preference securities		 Current year Previous year
-¢
-¢		 -¢
-¢

4. Dividend reinvestment plan

Details of any dividend reinvestment plans in operation:

N/A

The last date for the receipt of an election notice for participation in any dividend or distribution reinvestment plan: N/A

5. Statement of retained earnings

Accumulated losses at the beginning of the
financial year
Net (loss)/profit attributable to members
Accumulated losses at the end of the
**financial year **		 Current period - $A'000 Previous corresponding
period-$A'000
(13,343)
(4,402)
(17,745)		 (14,747)
1,404
(13,343)
6.1 Net Tangible Asset backing Current period Previous corresponding
period
Net tangible asset backing per ordinary
security		 $0.05 $0.15

6.1 Net Tangible Asset backing

30/06/2020

Appendix 4E Page 2 of 17

Appendix 4E Preliminary final report

6.2 Earnings per security (EPS) Current period Previous
corresponding period
Basic EPS (cents)
Net profit / (loss) after tax for the period
attributable to members ($’000s)
Weighted average number of ordinary
securities		 (5.1) 4.3
(4,402) 1,404
85,668,582 32,299,031

7. Details of entities over which control has been gained or lost during the period

7.1 A
Name of entity
No entities were acquired during the period
7.2 A
Date from which control was gained
7.3 A
Where material to an understanding of the report – the
contribution of such entities to the reporting entity’s
profit from operating activities during the period and
the profit or loss of such entities during the whole of
the previous corresponding period
7.1 B
Name of entities
No entities were disposed of during the period
7.2 B
Date from which control was gained / lost
7.3 B
Where material to an understanding of the report – the
contribution of such entities to the reporting entity’s
profit from operating activities during the period and
the profit or loss of such entities during the whole of
the previous corresponding period		 No entities were acquired during the period No entities were acquired during the period
ined
ding of the report – the
he reporting entity’s
uring the period and
s during the whole of
iod
No entities were disposed of during the period

8. Details of Associates and Joint Ventures:

Name of entity Percentage holding 30 Jun 20 Percentage holding 30 Jun 19
N/A
8.1 Where material to an understanding of the report - aggregate share of profits (losses) of these entities, details of
contributions to net profit for each of these entities, and with comparative figures for each of these disclosures for
the previous corresponding period:

30/06/2020

Appendix 4E Page 3 of 17

Appendix 4E Preliminary final report

9 - Comments by directors

EGY has reported a consolidated loss after tax and minorities for FY2020 of $4,402,220 (FY2019 profit after tax and minorities $1,403,557). Wholly owned subsidiary Bambach Wires and Cables Pty Ltd (Bambach) reported a loss after tax of $3,374,589 (FY2019 loss $2,650,579).

The Bambach business was substantially impacted in the last quarter FY2020 by continuing Covid-19 issues which caused delays in transitioning production from the Sydney facility to the new Rosedale facility. This caused production delays and necessitated carrying higher overheads longer than planned, substantially exacerbating the loss.

The Sydney factory was fully re-located in June and handed back to the landlord in the first week of July. Rental savings of more than $600,000 p.a. will now be realised. In addition, a significant number of Sydney factory staff have now been made redundant and whilst Rosedale employee numbers have grown the net saving of not having two factory workforces will deliver a substantial HR saving per annum. Equipment from Sydney has now been reinstalled in Rosedale except for one machine that is currently being installed. Since beginning the project in March 2019 some 45 major pieces of equipment have been decommissioned, transported, re- installed and are now fully commissioned and operating. Approximately 200 B-Double truckloads of equipment were delivered to the Rosedale site from April 2019 to June 2020. This of course pales in comparison to the work required to build the infrastructure required to support the machines - foundations, electric power, compressed air, gas, water and building refurbishment, which overall was undertaken in house by locally employed Bambach staff.

Production in Rosedale has improved dramatically since July 2020, and as production was ramped up, teething issues were resolved and Operators became more experienced. A second shift initiated in May was retracted in July to bring second shift operators back to day shift to receive extra training. This shift will be re- initiated in mid - September now that the operators have achieved full competency.

The current order book is strong and as production lead times improve it is expected that sales will grow. Traditionally orders are strong through September/October/November, which should fit well with clearing order backlogs and Bambach being able to offer short lead times for project orders particularly within the road and rail infrastructure sector.

30/06/2020

Appendix 4E Page 4 of 17

Appendix 4E Preliminary final report

  1. This report is based on accounts to which one of the following applies.

� The accounts have been � The accounts have been audited. subject to review.

� The accounts are in the � The accounts have not yet process of being audited been audited or reviewed. or subject to review.

  1. Description of likely dispute or qualification if the accounts have not yet been audited or subject to review or are in the process of being audited or subjected to review:

The Preliminary Financial Report is based on the Group’s 2020 annual financial report, the accounts of which are in the process of being audited. No matters have arisen thus far which would result in a dispute or qualification in the current year.

  1. Description of dispute or qualification if the accounts have been audited or subject to review:

N/A

Sign here:

==> picture [137 x 67] intentionally omitted <==

Print name: Alfred Chown Managing Director

Date: 31 August 2020

30/06/2020

Appendix 4E Page 5 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

CONSOLIDATED INCOME STATEMENT For the year ended 30 June 2020

Notes
CONTINUING OPERATIONS
Sale of goods
2a
Cost of sales
Gross profit
Rendering of services
2a
Other revenue
2b
Marketing expenses
Occupancy expenses
Administrative expenses
Finance costs
3
Depreciation and amortisation expenses
3
Other expenses
PROFIT/(LOSS) FOR THE YEAR BEFORE INCOME TAX
Income tax benefit (expense)
PROFIT/(LOSS) FOR THE YEAR AFTER INCOME TAX
LOSS ATTRIBUTABLE TO MINORITY INTEREST
PROFIT/(LOSS) ATTRIBUTABLE TO MEMBERS OF ENERGY
TECHNOLOGIES LIMITED		 CONSOLIDATED
2020
2019
$’000
$’000
10,059
12,593
(7,643)
(10,019)
2,416
2,574
67
70
761
5,604
(124)
(38)
(453)
(728)
(4,484)
(4,690)
(1,242)
(911)
(1,236)
(454)
(82)
(126)
(4,377)
1,301
(38)
90
(4,415)
1,391
13
13
(4,402)
1,404		 CONSOLIDATED
2020
2019
$’000
$’000
10,059
12,593
(7,643)
(10,019)
2,416
2,574
67
70
761
5,604
(124)
(38)
(453)
(728)
(4,484)
(4,690)
(1,242)
(911)
(1,236)
(454)
(82)
(126)
(4,377)
1,301
(38)
90
(4,415)
1,391
13
13
(4,402)
1,404
2,574
70
5,604
(38)
(728)
(4,690)
(911)
(454)
(126)
1,301
90
1,391
13
1,404

The accompanying notes form part of these financial statements.

30/06/2020

Appendix 4E Page 6 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 30 June 2020

PROFIT/(LOSS) FOR THE YEAR
OTHER COMPREHENSIVE INCOME FOR THE PERIOD AFTER
TAX:
Items that will be reclassified subsequently to profit or loss
when specific conditions are met:
Movement in foreign exchange relating to translation of controlled
foreign entities
Exchange difference on foreign exchange relating to minorities
Revaluation of Plant and Equipment to fair value
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS)
TOTAL COMPREHENSIVE PROFIT/(LOSS) FOR THE PERIOD
TOTAL COMPREHENSIVE PROFIT/(LOSS) ATTRIBUTABLE
TO:
Members of the parent entity
Minority equity interest
Earnings per Share
From continuing operations:
•Basic loss per ordinary share (cents)
•Diluted loss per ordinary share (cents)		 CONSOLIDATED
2020
2019
$’000
$’000
(4,415)
1,391
(2)
(3)
(2)
(3)
-
6,838		 CONSOLIDATED
2020
2019
$’000
$’000
(4,415)
1,391
(2)
(3)
(2)
(3)
-
6,838
(4)
(4,419)


(4,404)
(15)
(4,419)
(5.1)
(5.1)		 6,832
8,223
8,239
(16)
8,223
4.3
4.3

30/06/2020

Appendix 4E Page 7 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30 June 2020

Notes
CURRENT ASSETS
Cash and cash equivalents
Trade and other receivables
Inventories
Other current assets
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Property, plant and equipment
Right of use assets
5
Intangibles
Deferred tax assets
Other receivables
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Trade and other payables
Financial liabilities
Lease liabilities
5
Provisions
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Financial liabilities
Lease liabilities
5
Provisions
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES
NET ASSETS
EQUITY
Issued capital
6
Contributed equity
Reserves
Accumulated losses
Parent interests
Minority interests
TOTAL EQUITY
The accompanying notes form part of these financial statements		 CONSOLIDATED
2020
2019
$’000
$’000
28
30
4,188
5,248
2,327
3,480
357
212
6,900
8,970
12,872
11,768
3,877
-
4,737
4,083
229
267
215
209
21,930
16,327
28,830
25,297
6,269
4,587
4,181
2,438
566
-
847
823
11,863
7,848
413
130
3,321
-
157
196
3,891
326
15,754
8,174
13,076
17,123
25,351
25,279
300
-
5,782
5,784
(17,745)
(13,343)
13,688
17,720
(612)
(597)		 CONSOLIDATED
2020
2019
$’000
$’000
28
30
4,188
5,248
2,327
3,480
357
212
6,900
8,970
12,872
11,768
3,877
-
4,737
4,083
229
267
215
209
21,930
16,327
28,830
25,297
6,269
4,587
4,181
2,438
566
-
847
823
11,863
7,848
413
130
3,321
-
157
196
3,891
326
15,754
8,174
13,076
17,123
25,351
25,279
300
-
5,782
5,784
(17,745)
(13,343)
13,688
17,720
(612)
(597)
8,970
11,768
-
4,083
267
209
16,327
25,297
4,587
2,438
-
823
7,848
130
-
196
326
8,174
17,123
25,279
-
5,784
(13,343)
17,720
(597)
13,076 17,123

30/06/2020

Appendix 4E Page 8 of 17

Appendix 4E Preliminary final report

. ENERGY TECHNOLOGIES LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY As at 30 June 2020

Balance at 1 July 2018
Comprehensive income
Profit (loss) for the year
Other comprehensive income for the
year
Total comprehensive income (loss)
for the year
Transactions with owners, in their
capacity as owners, and other
transfers
Contributions of equity
Cost of raising capital
Total transaction with owners, in
their capacity as owners, and other
transfers
Balance at 30 June 2019
Comprehensive income
Profit (loss) for the year
Other comprehensive income (loss)
for the year
Total comprehensive income (loss)
for the year
Transactions with owners, in their
capacity as owners, and other
transfers
Contributions of equity
Contributions of equity received in
advance
Total transaction with owners, in
their capacity as owners, and
other transfers
Balance at 30 June 2020		 Issued
Reserves
Accumulated
Minority
Total
Capital
Losses
Interest
$’000
$’000
$’000
$’000
$’000
9,496
(1,051)
(14,747)
(581)
(6,883)
-
-
1,404
(13)
1,391

-
6,835
-
(3)
6,832
-
6,835
1,404
(16)
8,223


16,432
-
-
-
16,432
(649)
-
-
-
(649)


15,783
-
-
-
15,783
25,279
5,784
(13,343)
(597)
17,123
-
-
(4,402)
(13)
(4,415)

-
(2)
-
(2)
(4)

-
(2)
(4,402)
(15)
(4,419)


72
-
-
-
72
300
-
-
-
300


372
-
-
-
372
25,651
5,782
(17,745)
(612)
13,076

The accompanying notes form part of these financial statements.

30/06/2020

Appendix 4E Page 9 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 30 June 2020

Notes
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
Interest Received
Payments to suppliers and employees
Finance costs
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES
4
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of property, plant and equipment
Purchases of property, plant and equipment
Purchases of intangible development assets
NET CASH FLOWS (USED IN) INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of shares
Less outflows of raising capital
Proceeds from contribution of equity
Proceeds from borrowings
Proceeds from government grants
Repayment of borrowings
Proceeds of Loans from directors
NET CASH INFLOWS FROM FINANCING ACTIVITIES
NET INCREASE (DECREASE) IN CASH HELD
Add: Opening cash brought forward
CLOSING CASH AT THE END OF THE YEAR		 CONSOLIDATED
2020
2019
$’000
$’000
10,552
11,878
1
-
(10,631)
(12,599)
(1,042)
(298)
(1,120)
(1,019)
13
28
(1,920)
(3,456)
(852)
(1,755)
(2,759)
(5,183)
-
3,500
-
(649)
300
-
3,426
2,064
2,401
1,450
(2,671)
(411)
421
89
3,877
6,043
(2)
(159)
30
189
28
30		 CONSOLIDATED
2020
2019
$’000
$’000
10,552
11,878
1
-
(10,631)
(12,599)
(1,042)
(298)
(1,120)
(1,019)
13
28
(1,920)
(3,456)
(852)
(1,755)
(2,759)
(5,183)
-
3,500
-
(649)
300
-
3,426
2,064
2,401
1,450
(2,671)
(411)
421
89
3,877
6,043
(2)
(159)
30
189
28
30
(1,019)
28
(3,456)
(1,755)
(5,183)
3,500
(649)
-
2,064
1,450
(411)
89
6,043
(159)
189
30

The accompanying notes form part of these financial statements.

30/06/2020

Appendix 4E Page 10 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

1. BASIS OF PREPARATION

a) Basis of preparation

The preliminary final report does not include all the notes of the type normally included within the annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the consolidated entity as the full financial report.

The preliminary final report should be read in conjunction with the half-year financial report of Energy Technologies Limited as at 31 December 2019. It is also recommended that the financial report be considered together with any public announcements made by Energy Technologies Limited and its controlled entities during the year ended 30 June 2020 in accordance with the continuous disclosure requirements arising under the Corporations Act 2001 .

This preliminary final report has been prepared in accordance with the requirements of the Australian Securities Exchange listing rules.

This preliminary final report does not constitute the full financial report for the year ended 30 June 2020.

b) Going Concern

The consolidated entity made a FY2020 loss after tax attributable to members of $4,402,220 (2019: profit of $1,403,557). The FY2019 consolidated profit included a gain on the extinguishment of debt of $5,357,429, following the issue of shares at a discounted percentage of outstanding debt to Debenture, Convertible Note and loan holders in full satisfaction of the company’s obligations. The consolidated entity incurred negative cash flows from operations of $1,120,966 for the year ended 30 June 2020 (2019: negative $1,018,524).

Fully owned subsidiary Bambach Wires and Cables (Bambach) incurred a loss after tax of $3,374,589 (2019: $2,650,579). This loss was impacted by the impact of Covid-19, particularly in the last quarter FY2020, and by transitional issues in relocating the primary manufacturing facility from Sydney to Victoria.

This matter gives rise to a material uncertainty that may cast doubt upon the consolidated entity’s ability to continue as a going concern. The ongoing operation of the consolidated entity is dependent upon it achieving cash flow positive trading operations from its existing business.

Management have prepared a cash flow projection for the period to 30 September 2021 that supports the ability of the consolidated entity to continue as a going concern. Supporting the cash flow projection is the fact that the company restructure as reported last year is materially complete and the large manufacturing facility in Rosedale Victoria is operational and progressing to full production capability. This facility is capable of producing up to 250 tonnes of finished product per month. The cash flow remains conservative in revenue projections FY21 and the company balance sheet remains strong with net assets of $13.1m. Significant cost savings are projected FY2021 from the relocation to Rosedale, in particular rent and outgoings savings of more than $600,000 per annum and net staffing cost reductions as the Sydney factory closed.

The company also announced on 24 June 2020 a capital raising of up to $5m, which has subsequently been fully raised through a Placement and Rights Issue.

If the consolidated entity is unable to achieve the matters detailed above, it may not be able to continue as a going concern and therefore the consolidated entity may not be able to realise its assets and extinguish its liabilities in the ordinary course of operations and at the amounts stated in the financial statements.

No adjustments have been made to the recoverability and classification of recorded asset values and the amount and classification of liabilities that might be necessary should the consolidated entity and company not continue as going concerns.

30/06/2020

Appendix 4E Page 11 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

2. REVENUES FROM CONTINUING OPERATIONS
a) Revenue from continuing operations
Goods transferred at a point in time
Services transferred over time
b) Other revenues from continuing operations
- R&D Grant
- Finance revenue
- Gain on debt settlement
- Jobkeeper payment scheme
- Other income
Total revenues from continuing operations
3. EXPENSES
Included in the determination of net profit / (loss) before tax from continuing
operations are the following expenses.
Depreciation and amortisation of: non-current assets
Plant and equipment
Building and leasehold improvements
Furniture, fixtures and fittings
Motor vehicles
Computer equipment
Intangibles
Right of use asset amortisation
Total depreciation and amortisation of non-current assets
Borrowing costs expensed:
Borrowing expense
Interest expense
Lease finance charges
Superannuation contributions
Operating lease rental expense:
Minimum lease payments – short term leases		 CONSOLIDATED
2020
2019
$’000
$’000
10,059
12,593
67
70
10,126
12,663
126
202
8
17
-
5,357
513
-
114
28
761
5,604
10,887
18,267

373
269
20
3
12
6
24
22
11
11
198
143
598
-		 CONSOLIDATED
2020
2019
$’000
$’000
10,059
12,593
67
70
10,126
12,663
126
202
8
17
-
5,357
513
-
114
28
761
5,604
10,887
18,267

373
269
20
3
12
6
24
22
11
11
198
143
598
-
12,663
202
17
5,357
-
28
5,604
18,267
269
3
6
22
11
143
-
1,236
618
425
199		 454
394
517
-
1,242
506
740		 911
448
1,001

30/06/2020

Appendix 4E Page 12 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

4. STATEMENT OF CASH FLOWS
Reconciliation of the net profit (loss) after tax to the net cash
flows from operations
Profit (Loss) from operating activities after income tax
Add / (less) Non-cash items
Depreciation of non-current assets
Amortisation of intangible assets
Unrealised foreign exchange movements
Asset Finance interest charges
Hire Purchase interest charges
Amortisation of debenture transaction cost
Amortisation of loan establishment fees
Non-operating cash flow cash items
Net gain on disposal of property, plant and equipment
Gain on debt forgiveness
Shares issued to settle accounts payable
Lender reserve deposit movement
Changes in assets and liabilities
(Increase) / decrease in trade and other receivables
(Increase) / decrease in inventories
(Decrease) / Increase in payables and accruals
(Increase) / decrease in deferred tax asset
(Increase) / decrease in other-current assets
(Increase) / decrease in other-non-current receivables
Net movement in provisions for employee entitlements
Net cash (used in) operating activities		 CONSOLIDATED
2020
2019
$’000
$’000
(4,415)
1,391
1,038
311
198
143
(4)
(1)
41
-
44
77
-
190
162
-
(13)
(28)
-
(5,357)
72
-
14
-
(964)
(240)
1,153
1,263
1,682
1,067
38
(90)
(145)
35
(6)
(18)
(15)
238
(1,120)
(1,019)

30/06/2020

Appendix 4E Page 13 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

CONSOLIDATED CONSOLIDATED
2020 2019
$’000 $’000
5. NON CURRENT ASSETS – RIGHT OF USE ASSETS AND LEASE LIABILITIES
Right of Use Assets $ $
Right of use 4,474 -
Less: Accumulated Amortisation (597) -
3,877 -

The consolidated entity has leased office premises under operating leases with various expiry dates, some with options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated.

Reconciliations

Reconciliations of the written down values at the beginning and end of the current financial year are set out below:

Balance at 1 July 2019
Adoption of AASB 16 on 1 July 2019
Additions
Amortisation expense
Balance at 30 June 2020		 Office
Premises
$’000
-
4,474
-
(597)
3,877
30 June 30 June
2020 2019
$’000 $’000
$’000
$’000
Lease Liabilities
CURRENT
Lease liabilities
NON CURRENT
Lease liabilities		 566
-
566
-
3,321
-
3,321
-
3,887
-

30/06/2020

Appendix 4E Page 14 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

CONTRIBUTED EQUITY
Issued capital
85,772,955 (85,486,742 – 2019) ordinary shares fully paid
Ordinary Shares
2020
Number
At the beginning of reporting period
85,486,742
Shares issued during year
15/02/2019 Issued @ $0.002
-
22/02/2019 Consolidation 100:1
-
25/02/2019 issued at $0.20
-
30/04/2019 issued at $0.20
-
13/05/2019 issued at $0.20
-
29/05/2019 issued at $0.24
-
16/08/2019 issued at $0.24
131,250
13/12/2019 issued at $0.27
112,963
18/05/2020 issued at $0.25
42,000
Capital Transaction Costs
-
At reporting date
85,772,955		 CONTRIBUTED EQUITY
Issued capital
85,772,955 (85,486,742 – 2019) ordinary shares fully paid
Ordinary Shares
2020
Number
At the beginning of reporting period
85,486,742
Shares issued during year
15/02/2019 Issued @ $0.002
-
22/02/2019 Consolidation 100:1
-
25/02/2019 issued at $0.20
-
30/04/2019 issued at $0.20
-
13/05/2019 issued at $0.20
-
29/05/2019 issued at $0.24
-
16/08/2019 issued at $0.24
131,250
13/12/2019 issued at $0.27
112,963
18/05/2020 issued at $0.25
42,000
Capital Transaction Costs
-
At reporting date
85,772,955		 2019
Number
348,245,332
5,372,125,309		 CONSOLIDATED
2020
2019
$ $ 25,351,729
25,279,229
$
$ 25,279,229
9,496,447
-
10,744,251
-
-
-
4,730,000
-
270,000
-
500,000
-
187,881
31,500
30,500
10,500
-
(649,350)
25,351,729
25,279,229		 CONSOLIDATED
2020
2019
$ $ 25,351,729
25,279,229
$
$ 25,279,229
9,496,447
-
10,744,251
-
-
-
4,730,000
-
270,000
-
500,000
-
187,881
31,500
30,500
10,500
-
(649,350)
25,351,729
25,279,229
$ 9,496,447
10,744,251
-
4,730,000
270,000
500,000
187,881
(649,350)
57,203,903
23,650,000
1,350,000
2,500,000
782,839
-
85,772,955 85,486,742 25,279,229

6. CONTRIBUTED EQUITY Issued capital 85,772,955 (85,486,742 – 2019) ordinary shares fully paid

On 16 August 2019 EGY issued 131,250 shares in lieu of fees for services provided.

On 13 December 2019 EGY issued 112,963 shares in lieu of fees for services provided.

On 18 May 20 EGY issued 42,000 shares in lieu of fees for services provided.

Terms and conditions

Holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at shareholders’ meetings. In the event of winding up of the company, ordinary shareholders rank after creditors and are fully entitled to any proceeds of liquidation.

30/06/2020

Appendix 4E Page 15 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2020

7. Segment Reporting

Primary reporting - Business segments

Energy/Energy Energy/Energy Investment Investment Total
Infrastructure
2020 2019 2020 2019 2020 2019
$’000 $’000 $’000 $’000 $’000 $’000
Revenue 10,847 12,893 40 5,374 10,887 18,267
Segment result before
income tax (3,351) (2,753) (1,026) 4,054 (4,377) 1,301
Income tax
benefit/(expense) (38) 90 - - (38) 90

The group’s primary business segment is Energy/Energy Infrastructure products.

30/06/2020

Appendix 4E Page 16 of 17

Appendix 4E Preliminary final report

ENERGY TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 June 2020

8. SUBSEQUENT EVENTS

EGY announced on 24 June 2020 a capital raising of up to $5 million, comprising a $1.6 million Placement and a non- renounceable Rights Issue for up to $3.4 million. Subsequent to 30 June 2020 the completion of the Placement and the Rights Issue successfully raised $5 million through the allocation of 20,000,0000 ordinary shares in the placement, raising $1.6 million, and a further 42,500,000 ordinary shares under the rights issue, raising a further $3.4 million.

There has not arisen since the end of the financial period any other matter of circumstance which, in the opinion of the directors of the Company, significantly affects the operations of the Company, the results of those operations, or the state of affairs of the Company in subsequent financial years.

Compliance statement

  1. Compliance with Australian Accounting Standards ensures that the financial statements and notes comply with International Financial Reporting Standards issued by the IASB.

  2. 2 This preliminary report, and the accounts upon which the report is based (if separate), use the same accounting policies.

  3. 3 This preliminary report does give a true and fair view of the matters disclosed.

  4. 4 The accounts are in the process of being audited.

  5. 5 The entity has a formally constituted audit committee.

Sign here:

==> picture [137 x 66] intentionally omitted <==

Print name: Alfred Chown Managing Director

Date: 31 August 2020

30/06/2020

Appendix 4E Page 17 of 17

More from ENERGY TECHNOLOGIES LIMITED

Regulatory Filings 2026
Jun 2
Regulatory Filings 2026
Jun 2
Share Issue/Capital Change 2026
Jun 1
Share Issue/Capital Change 2026
May 13
Share Issue/Capital Change 2026
May 13
Capital/Financing Update 2026
May 7
Capital/Financing Update 2026
May 7
Capital/Financing Update 2026
May 5
Interim / Quarterly Report 2026
Apr 29
Capital/Financing Update 2026
Mar 22
View all filings →