Field Solutions Holdings – H1 FY22 Record Results, Group Primed for Growth

Field Solutions Holdings (ASX: FSG), Australia’s leading rural, regional and remote telecommunications carrier, is pleased to provide a general market update for H1 FY22.

H1 Highlights

• Revenue $19.60M (31 December 2020 $7.40M) up 165%
• NPAT $1.60M (31 December 2020 $0.28M) up 471%
• EBITDA $1.97M (31 December 2020 $0.52M) up 280%
• Positive Cashflow from Operations of $1.27M
• Sales order backlog in excess of $52M
• Completed TasmaNet Acquisition
• Expanded and diversified product suite and sales team

Field Solutions Group has delivered record results across the group for FY22 H1, delivering scale in network expansion and operational capabilities. A 165% increase in revenue, combined with ongoing business efficiencies and national expansion has delivered record growth across all key indicators and sets FSG up for long-term sustainable organic growth.

“FSG is delivering strong organic growth across the business whilst we construct and deploy our new networks across Australia”, outlines Andrew Roberts, CEO FSG. Currently, FSG is deploying 19 new place-based networks in rural, regional and remote Australia. “Our new networks will deliver approximately 97,000sqm of coverage over the next 24 months, 4 networks are on track to be delivered during FY22”, says Roberts.