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Field Solutions Holdings Delivers Record FY21 Results

Field Solutions Holdings Limited (ASX: FSG), Australia’s leading rural and regional telecommunications carrier, is pleased to release its Appendix 4E Full Year Financial Results and Annual Report for FY21.

Financial Highlights:
• Revenue increased 77% to $18.8M (FY20: $10.6M)
• EBITDA increased 485% to $2.2M (FY20: $0.4M)
• NPAT increased 550% to $2.1 (FY20: loss $0.5M)
• Investment in Capital Assets $3.4m (FY20: $1.9m)
• FY22 backlog of committed contacts > $40M

Business Highlights:
• Market entry to WA, awarded $2.1M Digital Farm Grants Program
• My Republic, six-year $45M Network as a Service agreement
• Federal Government - Regional Digital Connectivity, $27.4M
• NSW Government - $0.9M cross border project to connect NSW and QLD networks
• Secured 5G Spectrum covering over 85% of Australia, for rural, regional, and remote Australia
• Signed a 5 year, MVNO Agreement with Optus for mobile voice and data services

“FSG delivered record organic revenue growth, exceptional EBITDA and NPAT growth in FY21” said Andrew Roberts, FSG CEO. “The outstanding results delivered by our team, means we commenced FY22 with a backlog of committed contracts valued at more than $40M” he said.

These results reflect the success of our strategy to build network infrastructure in rural, regional, and remote Australia. “Throughout the course of FY21, FSG has successfully won strategic funding via a number of State and Federal Government programs”, Mr Roberts said. Grants included the Federal Government’s Regional Connectivity Program Round 1, totalling $27.4M, and FSG is preparing for Round 2 to be released in the coming months.

For more information, download the attached PDF.

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