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
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Phoslock Environmental Technologies Limited published this content on 27 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2022 23:31:04 UTC.