Fluence (ASX:FLC) signals delay in revenue recognition

Company News

by Katrina Bullock

Wastewater treatment company, Fluence Corporation (ASX:FLC) has signalled a delay in the recognition of US$20 million revenue.

Fluence previously announced that it had penned an agreement worth 165 million Euros with the Federal Government of Ivory Coast for the supply of a surface-water treatment plant.

Third party financing for the transaction is being provided through a loan from Israel Discount Bank and the State of Israel.

Fluence says that despite all parties to the finance contract agreeing on its terms, there has been a delay in execution– which may result in a short-term deferral of revenue that was expected to be recognised in 2019. 

Shares in Fluence Corporation (ASX:FLC) closed 6.2 per cent higher at $0.43 on Tuesday.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.