LONDON (dpa-AFX) - BATM Advanced Communications Limited (BVC.L), on Wednesday, said it expects to report revenue from continuing operations for 2024 of at least $117 million versus the prior year's $116.7 million and adjusted EBITDA from continuing operations of about $8 million versus the previous year's $9.9 million.
The revenue increase reflects strong growth in the Cyber and Diagnostics divisions revenue as well as an increase in the Group's secondary activities, which offset lower revenues in the Networking division. The reduction in adjusted EBITDA is primarily due to the revenue mix.
The company stated that it continues to have a strong cash position and expects to report cash and short-term investments of about $31.6 million as at 31 December 2024.
In addition, the net loss from continuing operations for 2024 is expected to be c. $7 million and net loss for continuing and discontinued operations is projected to be about $22 million. On an adjusted basis, and excluding these one-time exceptional non-cash items, the Group's net profit for continuing operations is expected to be about $1 million.
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