BuildingIQ FY18 Interim Financial Results – BuildingIQ

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BuildingIQ (ASX: BIQ) - FY2018 Interim Financial Results

August 31, 2018

Financial Summary: 1H FY18 compared to 1H FY17

  • 72% increase in revenue from ordinary activities to A$3.66m
  • 43% increase in cash inflow
  • 21% improvement in EBITDA (loss of A$1.48m)
  • 50% increase in Annual Contracted Revenue
  • 9% increase in operating expenses
Note: BuildingIQ is incorporated in Delaware and has a 31 December financial year end.

Operational Summary

  • 91 net new buildings added during first half
  • Total 1,176 buildings now active on the 5i Platform
  • More than 115 million square feet under management
  • Customer contract renewal rate greater than 98% for 1H FY18
  • Positive growth across all geographies and sectors
  • Subsequent event – acquisition of Buildingsense boosts capabilities and growth prospects in the greenfield (new construction) building sector
BuildingIQ Inc. (ASX: BIQ), a tech-enabled services business, today lodged its investor presentation for the half year ended 30 June 2018, following the release of its financial report last week (ASX: 24 August, 2018).

In commenting, President & CEO Michael Nark, said the strong first half results that followed equally strong FY17 results, demonstrate that BuildingIQ is continuing to deliver on its business strategy. “Our focus remains on financially astute growth. This has, and continues to be achieved through our strategic initiatives - strengthening our position in current markets; driving more of our services to existing customers: and expanding into new geographies.”

“Our 1H FY18 Annual Contracted Revenue, grew to A$7.99 million, up 50%. This measure of expected future revenue over the next 12-month period, is a strong indication of the growth BuildingIQ is delivering through our multi-region and diversified services strategy.

“Positively, the Company has seen a significant improvement in cash inflow driven by a substantial increase in revenue, building growth and a lift in cash collections. This has led a 21% improvement in EBITDA.”, Mr. Nark said.

2018 Looking Ahead

Our focus remains on financially astute growth through our key strategic objectives of:
  • Strengthening our position in current markets. This will be achieved from both new greenfield and established buildings growth and through a combination of organic and inorganic growth.
  • Continuing to drive more of our services to existing customers, recognising different markets present different opportunities.
  • Expanding into new geographies.

In implementing these initiatives, the Company is targeting a number of second half financial and business targets:

  • A$0.75m Monthly Revenue Run Rate
  • Bookings of A$4.5m (Contracted Revenue)
  • Exit 2H FY18 with Annual Contracted Revenue > A$8.5m
  • Add 60 New Buildings under Contract
  • Increase Annualised Revenue per Building 10%
  • Surpass 125m sqft under Contract

Future Updates

The Company will hold a conference call at 10am (AESDT) 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.

Interim Results investor call details:
Time: 10 am (AEST)
Date: Friday, 31 August, 2018
Phone: +61 2 9087 3604 (AU) or +1 (312) 757-3126 (US)
Access code: 983-247-749
Please note: For investors wanting to ask questions, please use the computer login below.

Financial Calendar

2018/19 Dates* Details
October 31, 2018 Appendix 4C, Q3 FY18 Market Update
January 31, 2019 Appendix 4C, Q4 FY18 Market Update
February 28, 2019 FY2018 Annual Results

*NOTE: Dates may be subject to change


For further information contact:

Lisa Jones
Company Secretary
Ph.:  +61 422 133 352

Christine Bowen
Ph.: +61 414 861 629

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 115M 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.