Fluence flags 20 per cent rise in 1Q19 revenue

Company News

by Anna Napoli

Fluence Corporation (ASX:FLC) has announced record quarterly bookings of US $223 million in a market update released to the ASX this morning.

The wastewater management company also flagged a 20 per cent rise in quarter 1 revenue of US$12.3 million up 20 per cent on a year on year basis.

Fluence has inked a €165 million deal with the Federal Government of Ivory Coast with financial close and construction commencement expected in Q3 2019.

The company has confirmed its 2019 guidance with secured annual recurring revenue and recurring revenue recognised to continue to increase in 2019.

Shares in Fluence Corporation (ASX:FLC) closed 3.96 per cent lower at $0.48 yesterday.