Full Year 2024 Chrysos Corporation Ltd Earnings Call Transcript
Key Points
- Chrysos Corp Ltd (ASX:C79) reported a substantial revenue increase of 69% year on year, reaching $45.4 million.
- EBITDA surged by 156% over FY23 to $9 million, with an improved EBITDA conversion rate of 20%, up from 14% in FY23.
- The company has a strong financial position with $61 million cash on hand and an undrawn $95 million banking facility.
- Chrysos Corp Ltd (ASX:C79) successfully deployed 29 PhotonAssay units, up from 20 at the start of the financial year, and signed four new contracts post year-end.
- The company is expanding its global footprint, with significant growth in the EMEA region (211%) and the Americas (203%).
- Despite the revenue growth, the global gold industry remains in a relatively slow environment with low exploration spend, impacting overall market conditions.
- The company experienced some misses regarding deployments during the year, indicating potential operational challenges.
- There are concerns about slow collections from certain regions, although the company has high-quality counterparties.
- The industry is still bouncing along the bottom of the cycle, with no significant uptick in exploration spend observed yet.
- The company faces high capital expenditure for PhotonAssay units, which requires careful financial management to align with revenue generation.
Thank you, and good morning, shareholders. Thank you all for joining us today for our full-year FY24 results presentation. As usual, I'm joined by our CFO, Brett Coventry. Brett, and I will give an overview of the operational and financial results for the year. Slide 3 please, operator.
Thanks, Dirk, and good morning. Our agenda for this morning is firstly our financial year '24 results highlights, followed by a PhotonAssay overview, which recaps some of the details here for those who are new to Chrysos. Next, to our financial year '24 summary and then moving forward to our FY25 guidance. Following this, we will open the floor for some questions. Also in the back of the release today, you will see some of our Chrysos notes and slides we previously published for some more detail of some of the background information.
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