FY2017 Full Year Financial Results – BuildingIQ

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FY2017 Full Year Financial Results

February 23, 2018

2017 Financial Summary

  • Revenue from ordinary activities was $5.26m in FY2017, up 33% from $3.96m in FY2016
  • Operating expenses were 32% lower at $7.14m (pcp $10.52m)
  • EBITDA loss was ($1.93m), an improvement of 73% from an EBITDA loss of ($7.10m) in FY2016
  • Net Loss After Tax of ($3.54m), an improvement of 55% from a loss of ($7.77m) in FY2016

2017 Operational Summary

  • 158 net new buildings added, an increase of 17%
  • 1,085 buildings (over 100m sqft) now active on the 5i Platform
  • Successful shift in product and sales resulted in growth of greenfield buildings with full utilisation of 5i Platform from construction through operations

Note: BuildingIQ is incorporated in Delaware and has a 31 December financial year end.

BuildingIQ Inc. (ASX: BIQ), a tech-enabled services business, today announced its financial and operational results for the year ended 31 December 2017.

In commenting President & CEO, Michael Nark, said he was delighted to deliver such strong results. “By all measures, the Company’s performance in 2017 exceeded expectations.

“Our 2018 Contracted Revenue, the measure of expected future revenue over the next 12-month period, grew to A$6.77m, up 58.4%. This means that, in the unlikely event that we make no further sales in 2018, we are expecting to recognise $6.77m of revenue, a 28% increase on actual revenues in FY2017.

“Overall, these results come from a concerted effort across the Company, and have demonstrated our ability to grow our sales and revenues by extending our tech-based services to greenfield buildings and expanding into other markets.”, Mr. Nark said.

2018 Looking Ahead
BuildingIQ’s focus remains on its core strategic growth initiatives:

  1. Strengthening our position in current markets.
  2. Delivering additional services to existing customers.
  3. Expanding into new geographies.

BuildingIQ will hold its Annual General Meeting on 20 March, 2018.

Non-Executive Director, Ken Pentimonti, has advised that following his relocation to the UK, he will not be seeking re-election at the AGM due to logistical complexities. On behalf of shareholders, the Board thanks Ken for his extensive contributions as a Board member since 2012.

Future Updates
The Company will hold a conference call at 11am (AEDT) today to discuss this announcement. Please refer below for the dial-in details. Please use the computer login details below if you wish to submit typed questions via the “chat” functionality.

Full Year results investor call details:
Time: 11 am (AEDT)
Date: Friday, 23 February, 2018
Phone: +61 2 8355 1038 (AU) or (646) 749-3117 (US)
Access code: 609-815-309

Please note: For investors wanting to ask questions via the “chat” functionality, please use the computer login: https://global.gotomeeting.com/join/609815309

Financial Calendar

2018 Dates* Details
April 14, 2017 Annual Report
March 20, 2018 Annual General Meeting
May 18, 2017 Annual General Meeting
April 27, 2018 Appendix 4C, Q1 FY2018 Market Update
July 31, 2018 Appendix 4C, Q2 FY18 Market Update
August 31, 2018 FY2018 Interim Results
October 31, 2018 Appendix 4C, Q3 FY18 Market Update

*NOTE: Dates may be subject to change


For further information contact:
Lisa Jones
Company Secretary
Ph.:  +61 422 133 352
E: lisajones@buildingiq.com

Christine Bowen
Ph.: +61 414 861 629
E: christine@communicaterelate.com.au

About BuildingIQ BuildingIQ (ASX: BIQ) helps building owners and operators worldwide lower energy use, increase building operations efficiency and enhance tenant comfort. The Company’s 5i cloud-based platform and Managed Services deliver on the promise of Internet of Things (IoT) for buildings with none of the drawbacks. Over 100M square feet of building space is currently under management with BuildingIQ.

Foreign Ownership Restrictions BuildingIQ’s CHESS Depositary Interests (CDIs) are issued in reliance on the exemption from registration contained in Regulation S of the US Securities Act of 1933 (Securities Act) for offers or sales which are made outside the US. Accordingly, the CDIs have not been, and will not be, registered under the Securities Act or the laws of any state or other jurisdiction in the US. The holders of BuildingIQ’s CDIs are unable to sell the CDIs into the US or to a US person unless the re-sale of the CDIs is registered under the Securities Act or an exemption is available. To enforce the above transfer restrictions, all CDIs issued bear a ‘FOR US’ designation on the ASX. This designation restricts any CDIs from being sold on ASX to US persons. In addition, hedging transactions with regard to the CDIs may only be conducted in accordance with the Securities Act.