Synertec Corporation to Host Online Briefing for FY24 Results

September 04, 2024 05:20 PM AEST | By Team Kalkine Media

Google News:

Synertec Corporation to Host Online Briefing for FY24 Results — Image source: shutterstock

Recent News

D3 Energy Expands Into Australia's Arckaringa Basin With Strategic Hel...

Clarity Pharmaceuticals (ASX:CU6) Secures Manufacturing Deal to Accele...

Volt Resources Advances US Graphite Refinery Plans With Promising Scop...

ArchTIS Breaks into US Defence Market with Strategic NC Protect Rollou...

Synertec Corporation Ltd (ASX:SOP) is set to host an online briefing on Friday, September 6, 2024, at 2:00 pm (AEST) to present its FY24 financial results and key achievements. This Annual Investor Briefing Update will offer an in-depth look at the company's performance, highlighting significant milestones and outlining future strategies. The presentation will feature insights from key executives, including Managing Director and CEO Michael Carroll, CFO and Executive Director David Harris, GM Engineering Andrew Lawrie, and GM Technology Jason Denholm. Following the presentation, attendees will have the opportunity to participate in a Q&A session, allowing for direct engagement with the leadership team.

Synertec's financial results for FY24 underscore its strong growth potential, marked by a 26% increase in revenue and other incomes, totaling $19.7 million for the year. This impressive growth is largely driven by the expansion of the company's engineering services and its successful contracts related to the Powerhouse micro-grid renewable energy and storage solution. The Powerhouse solution, designed to deliver sustainable energy through innovative technology, has been a significant contributor to the company's recent success.

In FY24, Synertec successfully deployed three Powerhouse units, adding $1.1 million to the group’s overall revenue. This achievement not only reflects the company’s ability to execute complex projects but also signals a growing demand for renewable energy solutions. The Powerhouse units have proven to be a key growth area, and Synertec is actively engaging with 15 potential customers for future deployments. These ongoing discussions indicate a strong pipeline of opportunities that could further boost the company’s revenue in the coming years.

To enhance the Powerhouse technology and expand its market presence, Synertec has formed an exclusive partnership with Siemens. This collaboration is expected to accelerate the development and adoption of the Powerhouse solution, leveraging Siemens' global expertise in technology and innovation. The partnership aims to refine the Powerhouse offering, making it more competitive and attractive to a broader customer base, both in Australia and internationally.

Synertec's strategic focus on renewable energy and innovative technology solutions positions the company for continued growth in the rapidly evolving energy sector. With its recent financial performance and strategic partnerships, Synertec is well-equipped to capitalize on the increasing demand for sustainable energy solutions. The upcoming briefing will provide further details on these developments and offer stakeholders an opportunity to gain a deeper understanding of the company's future direction.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.