Bendigo Telco : Media Release on Half Year Results

February 24th, 2022

Bendigo Telco HY22 Financial Results

Bendigo Telco Limited (NSX:BCT) today announced its interim results for the half-year ended 31st December 2021.

Highlights

• Net Profit After Tax for the period of $121,487
• EPS of 1.6 cents
• Revenue decreased 13.2% from prior year period to $13,480,166
• EBITDA decreased 36.3% from prior year period to $1,414,043

Bendigo Telco Board Chairman, Rob Hunt stated, "our results reflect the challenging telco environment and the change in products and services that are utilised by our customers in today's market. Our results have been impacted by the reduced revenues and margins that our business derives from our legacy voice and data products and whilst this is in line with our projections and what is being experienced across the entire telco industry, it has impacted the half-year result."

Mr. Hunt also commented on the changes and investment the business is making to address the changing technology and market.

"We continue to direct our priorities, strategic approach and structure to opportunities that we have identified in the market. Our strategic framework ensures that we maintain a balance across our key focus areas which in turn will ensure the appropriate priority and level of attention is given to the growth opportunities that are available in our markets."

"We believe that by focusing on improving the accessibility and delivery of technology and assisting our customers to adopt technology to support their needs, the business will be able to position itself for future sustainable growth. We will also continue to look for investment opportunities that will further enhance our prospects of success."

Dividend

The Bendigo Telco Board has decided to declare an interim dividend for the period of 2c. "The Board remains convinced that the Group can add value technically and strategically for both our customers and the communities we serve," Mr Hunt said.

For Further information please contact:

Mr Ken Belfrage, Company Secretary, Bendigo Telco:

1. 5454 5000 [e-mail]

About Bendigo Telco (NSX:BCT) Bendigo Telco, formed in year 2000, was established by a group of prominent Bendigo based businesses who wanted better access to competitive pricing and telecommunications technology. These businesses identified the disadvantages (market failure) that they as regional businesses faced when compared with their metropolitan competitors. Early analysis identified the need to create a locally owned and focused organisation to improve the telecommunications services, in terms of price, priority, competition, and access to essential infrastructure.

Bendigo Telco has played a major role in addressing these shortcomings as well as promoting a more competitive and responsive telco market in all the communities that we now support. The company continues to provide a broad range of telecommunications services to enterprise, business, and consumer customers across these Australian markets.