- Water management solutions provider Fluence (FLC) has reported positive cash flow for the June quarter, bolstering its balance by over 18 per cent
- The company finished the 2020 financial year with US$20 million in the bank (around A$28.8 million), up from US$16.9 million (roughly A$24.34 million) at the end of March
- The numbers are in line with previous guidance, demonstrating the company’s robust business model even in the midst of a global health crisis
- The company attributes the positive result to proactive management of operations and efficient financial management
- Further details of the company’s operational and financial performance will be provided at the end of the month
- Fluence is trading 15 per cent higher today at 23 cents per share
Water management solutions provider Fluence (FLC) has reported positive cash flow for the June quarter, bolstering its balance by over 18 per cent.
The company finished the 2020 financial year with US$20 million in the bank (around A$28.8 million), up from US$16.9 million (roughly A$24.34 million) at the end of March.
The numbers are in line with previous guidance, demonstrating the company’s robust business model even in the midst of a global health crisis.
Some Fluence projects had faced pandemic-related delays, and the company expected to only break even on cash flow as recently as June 19.
The company attributes the positive result to proactive management of operations and efficient financial management.
Managing Director & CEO, Henry Charrabé, says the company has successfully navigated a difficult time.
“Streamlining our operations and focusing on timely collections from customers enabled us to turn our operating cashflow positive,” Henry said.
“Despite global challenges and the economic slowdown, the company is now in a stronger cash position with approximately US$20 million cash on hand at the end of June, compared to US$16.9 million at the end of March,” he continued.
Further details of the company’s operational and financial performance will be provided at the end of the month.
Fluence is trading 15 per cent higher today at 23 cents per share as at 1:07 pm AEST.