Fluence posts second quarter revenue of US$11.3 million

Company News

by Anna Napoli

Wastewater treatment company Fluence (ASX:FLC) has announced 2019 second quarter revenue of US$11.3 million, bringing the first half result to US$23.6 million.

The company had first half total bookings of US$241 million, substantially exceeding expectations.

Fluence says while the financial performance of the business over the second quarter has not been as strong as it would have liked, it believes that demand for its decentralised pre-engineered Smart Product Solutions for water and wastewater treatment has only strengthened.

To capitalise on a strong pipeline of opportunities Fluence has executed a term sheet and is in advanced discussions to secure a term loan facility from Generate Capital for up to US$40 million to finance working capital investments.

Fluence has reconfirmed its guidance to achieve sustainable earnings (EBITDA) profitability by quarter 4 2019.

Shares in Fluence (ASX:FLC) closed 1.79 per cent higher at 57 cents.