XTEK Limited FY22 Preliminary Results

Key highlights:

• Restructuring activities undertaken in H1 FY22 have sharply refocused business on to its core capabilities to deliver success.
• Contracted orders in hand on 30 June 22 totaled $45m (77% of FY22 revenue), including US$22m of prepaid revenue, for delivery in FY23.
• Growing pipeline of opportunities exceeding $130m, with multiple potential projects on foot for delivery in FY23, FY24, and beyond.
• Strong growth fundamentals continue for armour and technology markets, given global uncertainty and military escalation worldwide.
• Group actively seeking organic and inorganic expansion opportunities for both armour and technology operations in US, EU, and AU