Mapping out a boost

aerial mapping company Aerometrex expects to book a revenue increase of up to 30 per cent for the 2020 financial year — its first as an ASX-listed company.

The company, which listed on the Australian Securities Exchange in December, has released its unaudited financial results, with revenue estimated to come in at $19m to $20m, up from $16.1m in the previous year.

The company’s LiDAR (Light Detection and Ranging) technology, which uses millions of laser point measurements to build a model of ground surfaces, is expected to become the main revenue generator for the business, rising from $6.5m to close to $9m.

However, one-off costs associated with the company’s public listing are expected to result in a small dip in EBITDA, from $5.2m to a range between $4m and $5m.

Aerometrex managing director Mark Deuter (pictured) said the company had invested in its range of service offerings throughout the year, but retained close to $22m in cash.

“FY20 marks a substantial change in the scale of operations as the business has invested heavily in its subscription service MetroMap, proprietary camera system MetroCam, LiDAR capability and expansion of 3D into international markets,” he said. “The benefits of these investments are expected in future years.

“Despite these investments the normalised EBITDA result, after adjusting for one-off transaction items associated with listing of the company, is expected to remain positive in the $4m to $5m range owing to substantial earnings from our project-oriented mapping and LIDAR business.”