Phoslock Environmental Technologies : Preliminary 2021 FY Results and Appendix 4E

Phoslock Environmental Technologies Limited Appendix 4E

Preliminary final report 1. Company details

	Name of entity:	Phoslock Environmental Technologies Limited
	ABN:		88 099 555 290
only		For the year ended 31 December 2021
	Reporting period:
	Previous period:	For the year ended 31 December 2020
	2. Results for announcement to the market
	The comparative financial statements for the prior period has been restated as described in note 2.
use							$'000
		down	8.4%	to		6,297
	R	venues from ordinary activities
	Underlying Earnings/(Loss) Before Interest and Tax ('Underlying EBIT')	up	7.6%	to		(7,872)
	Lo		from ordinary activities after tax attributable to the owners of
	Phoslock Environmental Technologies Limited	down	84.6%	to		(3,937)
	Loss for the year attributable to the owners of Phoslock Environmental
	Technologies Limited		down	84.6%	to		(3,937)
personalAdd: Share-based expense (reversal)/expense				-	(30)
	Dividends

There were no dividends paid, recommended or declared during the current financial period.

Comments

The loss for the Group after providing for income tax amounted to $3,937,000 (31 December 2020: $25,492,000).

		Consolidated
		31 Dec 2021	31 Dec 2020
		$'000	$'000
Revenue	6,297	6,878
Net Operating Profit/(Loss) after Tax ('NPAT')	(3,937)	(25,492)
Add: income tax (benefit)/expense	-	(272)
Add: Finance costs	78	204
Add: Impairment/(reversals) of receivables	(2,441)	10,935
Add: Impairment/(reversals) of assets	1,631	7,381
Add: Foreign exchange losses/(gains)	129	67
Less: Interest revenue	(92)	(106)
For	(3,240)	-
Less: Remeasurement of lease liabilities
Underlying Earnings / (Loss) Before Interest and Taxes ('Underlying EBIT') *	(7,872)	(7,313)
*	Underlying EBIT is a financial measure which is not prescribed by Australian Accounting Standards ('AAS') and
	represents the profit or loss under AAS adjusted for the add back of income tax, finance costs and certain non-cash

income and expense items that are deemed to not have an ongoing affect to the underlying performance of the business. The Company believes that presenting Underlying EBIT provides a better understanding of its financial performance by facilitating a more representative comparison of financial performance between financial periods.

Refer to the Operating and financial review section for more information on the Group's results for the year.

Phoslock Environmental Technologies Limited Appendix 4E

Preliminary final report 3. Net tangible assets

only	Reporting		Previous
period		period
Cents		Cents
Net tangible assets per ordinary security	4.04	4.69

The net tangible assets calculation does not include rights-of-use assets of $322,000 (31 December 2020: $165,000) but

includes the lease liabilities of $1,292,000 (31 December 2020: $3,836,000).

4. Control gained over entities

use	Incorporation date
	Name of entities
	Phoslock Inc (USA - Delaware)	6 January 2021
	5. Loss of control over entities
	Not applicable.
personal
	6. Dividends

Current period

There were no dividends paid, recommended or declared during the current financial period.

Previous period

There were no dividends paid, recommended or declared during the previous financial period.

7. Dividend reinvestment plans Not applicable.

8. Details of associates and joint venture entities Not applicable.

For9. Foreign entities

Details of origin of accounting standards used in compiling the report:

Not applicable.

10. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements are in the process of being audited.

Phoslock Environmental Technologies Limited

Appendix 4E

Preliminary final report

11. Attachments

Details of attachments (if any):

only
The Preliminary Final Report of Phoslock Environmental Technologies Limited for the year ended 31 December 2021 is
attached.
12. Signed
As authorised by the Board of Directors
Signed ___________________________	Date: 28 February 2022
Lachlan McKinnon
Managing Director
Melbourne
For personaluse

onlyPhoslock Environmental Technologies Limited

ABN 88 099 555 290

usePreliminary Final Report - 31 December 2021 personalFor

Phoslock Environmental Technologies Limited

Contents

31 December 2021

Operating and financial review

Statement of profit or loss and other comprehensive income Statement of financial position

Statement of changes in equity onlyStatement of cash flows

Notes to the financial statements

For usepersonal

2

4

5

6

7

8

1