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Adacel Technologies Limited (ASX:ADA)

ALERT: Price-sensitive ASX Announcement for ADA
Current share price for ADA : $0.475 0.085 (21.79%)+
Announcement
Release
27 Nov 2024 8:57AM
Price at Release
$0.390
Full Release
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Summary
Adacel Technologies Limited announced its decision to voluntarily delist from the Australian Securities Exchange (ASX) effective 8 January 2025, citing limited trading, management effort, and cost savings as key reasons. The company also provided an overview of its financial performance for FY2024, reporting revenues of $31 million and a loss before tax of $4.1 million. Looking ahead, Adacel expects a normalized EBITDA of between $4 million and $5 million for FY2025, driven by contracts with the FAA and new business opportunities.
Key Points
  • Adacel is voluntarily delisting from ASX effective 8 January 2025.
  • Reasons for delisting include limited trading, management effort, and cost savings.
  • For FY2024, Adacel reported revenues of $31 million and a loss before tax of $4.1 million.
  • The company anticipates a normalized EBITDA of $4 million to $5 million for FY2025.
  • New contract opportunities are projected, including a significant new Aurora ATM contract.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.