Ecoya outlines guidance of half and full year result and platform for future growth

Ecoya Ltd (NZX:ECO) held its Annual Meeting at the Northern Club in Auckland today (Sept 25).

Full year revenue is forecast to be $26.6m – up from $22.6m, an increase of 18 per cent on the year to 31 March 2012.

A programme of growth initiatives across the Trilogy and Ecoya brands was also outlined. The initiatives were described by Chairman Geoff Ross as "building a platform for growth in the years ahead and which have been front loaded in to the start of the current year”.

At the meeting, Ecoya provided earnings and revenue guidance in respect to the year ending 31 March 2013.

Revenue for the period to 30 September 2012 is estimated to be $12.1 m – an increase of 16 per cent on the six months to 30 September 2011.

Detail of the guidance is provided in the table below:

                                       Six Months to 30/9/12

                                                             $‘000

Revenue                                              12,100

EBITDA                                                  (400)
Interest                                                  (260)
Depreciation                                           (140)
Tax                                                          0
NPAT                                                    (800)

The Board estimates that the second six months result will record positive earnings before interest, depreciation and tax meaning at this operating level the business will be above breakeven for the full year.

Chairman Geoff Ross closed by saying Ecoya now has a solid foundation to support a similar  ongoing growth trajectory.

Note: The Ecoya Limited annual report is available on the company website.
http://www.ecoya.com.au/resources/pdf/6902_ECOYA_Annual_Report.pdf