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SAFEROADS HOLDINGS LIMITED — Capital/Financing Update 2024
Jul 18, 2024
65853_rns_2024-07-18_dc65e519-91e4-4463-8815-8aa7ce152aeb.pdf
Capital/Financing Update
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19 July 2024
ASX ANNOUNCEMENT
Financial Year Unaudited Results Update and Strategic Review
Saferoads Holdings Limited (ASX: SRH) ( “Saferoads” or “The Company” ) has recorded an extremely disappointing loss for the 2024 financial year in an increasingly difficult economic and financial environment. The unaudited underlying EBITDA was a profit of $1,076k and a bottom line underlying loss of $1,190k. The underlying loss of $1,190k was before the additional once off charges of $325k for the WorkSafe fine and the non-cash $1,153k derecognition of the deferred tax asset.
The group generated $1,031k of operating cashflow and continues to work with our bankers to retain their ongoing support.
As a response to the significant operational and financial challenges the directors are undertaking a full strategic review of all operations and assets that we have. We will be assisted by a very experienced independent corporate finance professional to identify the path forward that provides the greatest value to shareholders. The results of that review will be reported to shareholders once the outcomes are clearly known.
This announcement has been authorized for release by the Board.
Enquiries/Additional Information:
David Ashmore, Chairman Ph: 0418 155 500 Email: [email protected]
ABOUT SAFEROADS
Saferoads is an ASX listed company specialising in providing innovative safety solutions. Headquartered in Pakenham, Victoria with representation across Australia, New Zealand and the USA, the company provides state government departments, local councils, road construction companies and equipment hire companies with a broad range of products and services designed to direct, protect, inform and illuminate for the public’s safety.
Saferoads Holdings Limited ASX: SRH ABN 81 116 668 538
22 Commercial Drive PO Box 2030 Pakenham VIC 3810 Australia
Telephone: +61 3 5945 6600 Website: www.saferoads.com.au