Orbital UAV has released its financial results for the six months ended 31 December 2021. FY22 H1 HIGHLIGHTS Consolidated revenue and other income of $11.2M Cash, term deposits and receivables of $7.6M Two engine models in production for key customer Boeing-Insitu Four engine development programs underway for Textron Systems (x2), Singapore and Skyways Targeting FY22
With our expanding customer and product opportunities and a strong pipeline of contracted engine development programs, we were delighted to receive funding via a Defence Global Competitiveness grant earlier this year to support our growth objectives. The grant has gone towards the purchase of new specialist precision manufacturing equipment that will support our production targets
Western Australia has emerged as a global leader in the development of air systems and Orbital UAV is part of that growing ecosystem. The latest edition of Australian Air Power Today features a number of interesting articles on unmanned aerial vehicles (UAVs), including commentary on WA’s current opportunity within defence and the role Orbital UAV
The Orbital Corporation Limited 2021 Annual General Meeting (AGM) was held in Perth, WA on 16 November. All Resolutions were all strongly supported by shareholders, including the re-election of Chairman John Welborn. View the AGM voting results here. Following the formal business, Mr Welborn addressed the meeting, highlighting the positive progress the Company has made
Orbital UAV’s customer and product diversification strategy continues in 2021 with an additional engine development program contract announced with Textron Systems Corporation, a subsidiary of Textron Inc. and one of world’s largest suppliers of tactical UAVs. The new program with Textron Systems adds to the Company’s existing engine development programs, expanding the Company’s production profile
Orbital UAV has been selected by Team Defence Australia to be part of the Australian defence industry delegation at AUSA 2021 – the annual conference and expo for the Association of the United States Army. Alongside 23 other companies on the Australia National Pavilion, Orbital UAV will demonstrate its growing capability within the unmanned aerial
With a growing global customer base, new engine production lines progressing and Defence funding to support the expansion of our production capability – the next 12 months at Orbital UAV is looking busy! Our latest Defence Global Competitiveness Grant from the Centre for Defence Industry Capability for new capital equipment will support our progress as
Today we released our audited Financial Results and Annual Report for the financial year ending 30 June 2021, confirming revenue of $31.2M and an underlying net loss of $1.3M before abnormals. You can listen to a recording of our financial result conference call with CEO Todd Alder and CFO David Bonomini via Open Briefing, here.
Orbital UAV’s presence at Land Forces 2021 was a great opportunity to showcase our growing defence capability on the national stage and build our reputation as the world leader in spark-ignited heavy fuel engine systems for tactical UAVs! Selected by Defence West to represent and promote Western Australia’s defence industry capability, we spent three days
The Australian Defence sector currently represents a “unique environment” for investors, with all three services (Army, Air Force, Navy) committing to billion dollar projects over the next 5-10 years. That’s the view of MA Financial Group’s Ryan Pittman in Stockhead’s recent Defence & Security Virtual Conference. Ryan points out that historically the Defence sector hasn’t been prominent on the ASX
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