GREENHY2 LIMITED 27 January 2015
Tempo Australia Limited (ASX: TPP) (Tempo, the Company) has today released its Appendix 4C - Quarterly Cashflow report for the period ended 31 December 2015.
The cash balance as at 31 December 2015 was $7.4 million.
Tempo delivered a highly successful quarter with sales receipts of $33.8 million for the period. The cash received from sales in the quarter is reflective of Tempo's build-up of construction and maintenance services carried out for key clients in the energy and resources sectors. This includes revenues being generated from works on the Chevron Operated Barrow Island LNG Project, Rio Tinto's Cape Lambert Port B Expansion Project and BHP Billiton Iron Ore's Mooka Ore Car Repair Shop facility, all of which will continue in 2016.
The underlying health of the business operations is validated by the strong positive operating cash flows of $6.6 million over the last quarter. The strong cash flow position has been realised primarily from Tempo's strong operational performance and governance, prudent cash management, and the release of retention funds held by clients.
Tempo reported total sales receipts from the past 12 months of approximately $73 million, which represents an increase of more than 500% compared to last year.
The Company's strong cash position plus a $10 million working capital facility, which remains completely undrawn, leaves the business well positioned for future project needs and business growth.
Tempo CEO Max Bergomi said:
"We are delighted with the performance delivered by the business in the December quarter. Our front line worker engagement process, strong operational governance, structured risk management and the constant focus in protecting clients' investments by driving productivity and tool-time, without ever compromising safety, is the foundation of Tempo's working philosophy. This approach also underpins the positive financial results we have achieved in the quarter."
ENDS
For further information please contact:
Carmelo (Charlie) Bontempo Michael West
Chairman CFO & Company Secretary
+61 (8) 6180 2040 +61 (8) 6180 2040
Media and Investor Relations
James Moses
M: +61 420 991 574
Tempo Australia Ltd
ACN 000 689 725
Level 1, 111 Colin Street, West Perth, WA, 6005, Australia PO Box 8075, Subiaco East, WA, 6008, Australia
T: +61 (08) 6180 2040 | E: info@tempoaust.com | W: www.tempoaust.com
About Tempo
Tempo Australia Ltd (ASX: TPP) is a services company to the minerals resources, energy and infrastructure sectors. It was established in 2011 and has specific expertise in the provision of Structural, Mechanical, Piping, Electrical & Instrumentation (SMPE&I) services, specialising in:
construction (greenfield and brownfield); maintenance;
sustaining capital works; and shutdowns.
2 | P a g e
Introduced 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10
Name of entity |
Tempo Australia Limited (and control entities) |
ABN | Quarter ended ("current quarter") |
51 000 689 725 | 31 December 2015 |
Consolidated statement of cash flows
Cash flows related to operating activities | Current quarter $A'000 | Year to date (12 months) $A'000 | |
1.1 | Receipts from customers | 33,320 | 72,550 |
1.2 | Payments for
| (15,072) (4) - (3) (11,451) | (32,481) (16) - (7) (32,882) |
1.3 | Dividends received | - | - |
1.4 | Interest and other items of a similar nature received | - | - |
1.5 | Interest and other costs of finance paid | (150) | (461) |
1.6 | Income taxes paid | - | - |
1.7 | Other (provide details if material) | - | - |
Net operating cash flows | 6,640 | 6,703 | |
Curent quarter $A'000 | Year to date (12 months) $A'000 | ||
1.8 | Net operating cash flows (carried forward) | 6,640 | 6,703 |
Cash flows related to investing activities | - - - (46) - | - - - (299) - | |
1.9 | Payment for acquisition of:
| ||
1.10 | Proceeds from disposal of:
| - - - - - | - - - - - |
1.11 | Loans to other entities | - | - |
1.12 | Loans repaid by other entities | - | - |
1.13 | Other (provide details if material) | - | - |
Net investing cash flows | (46) | (299) | |
1.14 | Total operating and investing cash flows | 6,594 | 6,404 |
Cash flows related to financing activities | - | - | |
1.15 | Proceeds from issues of shares, options, etc. | ||
1.16 | Proceeds from sale of forfeited shares | - | - |
1.17 | Proceeds from borrowings | 237 | 3,189 |
1.18 | Repayment of borrowings | (506) | (3,302) |
1.19 | Dividends paid | - | - |
1.20 | Other (provide details if material) | - | - |
Net financing cash flows | (269) | (113) | |
Net increase (decrease) in cash held | 6,325 | 6,291 | |
1.21 | Cash at beginning of quarter/year to date | 1,092 | 1,126 |
1.22 | Exchange rate adjustments to item 1.20 | - | - |
1.23 | Cash at end of quarter | 7,417 | 7,417 |
Tempo Australia Ltd. issued this content on 26 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 January 2016 22:54:26 UTC
Original Document: http://www.tempoaust.com/IRM/PDF/1715/Appendix4Cquarterly
