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PWN - Parkway Corporate

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This significant growth in our operations was supported by our recent strategic acquisition of Tankweld, a leading industrial engineering solutions provider based in Melbourne. As an established industrial company, embedded in the water sector since the 1940s, Tankweld has a proven project delivery capability, from design, fabrication and through to installation and commissioning. This also represents an ideal platform to support the commercialisation of Parkway’s existing technology assets. More specifically, we believe the acquisition of Tankweld represents an important countercyclical investment, to secure strategically important capabilities, which will assist us further accelerate the growth of Parkway.

In addition to the existing project pipeline, Tankweld has recently secured involvement in numerous major projects which will generate several million dollars of revenue in the year ahead, as well as enable Parkway to support the fabrication and delivery of larger scale projects with tier-1 industrial and municipal clients.

This represents a pivotal transformation for Parkway from a small-scale technology company with limited project delivery capabilities, to a provider of more significant and integrated capabilities. Parkway is now increasingly capable of delivering a diverse range of industrial water, wastewater treatment and infrastructure related projects on a turnkey Engineering, Procurement & Construction (EPC) and Design & Construct (D&C) basis.
 
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Operating Revenue
Parkway generated group operating revenues of approximately $3.48 million for the December quarter, compared to $0.67 million for the prior corresponding period (FY24-Q2), representing a 420% increase.

Outlook
Given the significant growth in revenues generated during the last year and the encouraging activities outlined in the Business Development & Growth Outlook section outlined above; Parkway expects to continue to achieve improved operating results into the future. Notwithstanding the confidence in ongoing revenue growth, given the inevitable volatility impacting various project specific activities, particularly in terms of timing impacts, at this stage the Company does not provide any form of guidance or financial forecasts. As Parkway transitions towards sustained profitability, the Company intends to commence providing guidance at the appropriate time.


As of 31 December 2024, the company held $2.77 million in cash reserves. It should be noted that the reported cash balance excludes,
i) undrawn balance of the term loan facility,
ii) undrawn grant funds,
iii) the anticipated R&D rebate for FY25, and
iv) other receivables.
 
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CORPORATE UPDATE

Highlights
§ Queensland Brine Solutions continues to make significant strategic progress.
§ Launch of dedicated QBS website to support ongoing stakeholder engagement.
§ Growing pipeline of water infrastructure projects including multiple project wins.
§ ISO certifications successfully renewed for further 3-year term.
 
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In support of Parkway’s accelerated technology commercialisation strategy, Parkway primarily operates through two strategically integrated capacities:
- Industrial Operations business division is focused on the provision of conventional water and wastewater treatment related products & services, including fabrication as well as project delivery related services including installation, for a broad range of predominantly commercial, municipal and industrial clients.
- Industrial Technology business division is primarily focused on innovative process technology related R&D, including process screening, evaluation, optimisation and piloting, as well as a range of technology
commercialisation related activities.

Operations
§ Strong quarterly operating performance with focus on strategic growth opportunities.
§ Progress in strengthening Parkway as a leading provider of integrated engineering solutions.
§ Focus on safety and performance, underpinned by successful renewal of ISO certifications.

Technology
§ Range of key priorities for Queensland Brine Solutions proceeding positively.
§ Go-to-market strategy for QBS optimised to prioritise integrated development opportunities.
§ Engaged by global mining company to evaluate brine technology for critical minerals project.

Corporate
§ Transition to profitability is building momentum, underpinned by award of several projects.
§ Developing deep project pipeline expected to further underpin long-term sustainable growth.
§ cash at end of March $2.248M
 
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CORPORATE UPDATE
Highlights
§ Award of contracts valued at over $13 million to deliver water infrastructure projects.
§ Award of additional material contracts anticipated in the near term.
§ Ongoing progress in advancing Queensland Brine Solutions priorities.
§ Successful completion of process piloting with major mining company.
§ Term loan facility extended to provide flexibility in funding growth.
 
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