FY2014 Results Guidance
Sydney, July 10, 2014 AEST (ABN Newswire) - Indoor Skydive Australia Group Ltd (
ASX:IDZ) (ISA Group) provides guidance on our 2014 financial year results, subject to completion of the end of year audit process.
Operating Revenue for the year ended 30 June 2014 is approximately $1.2 million. This reflects excellent customer flight throughput and exceeds management's expectations since full operations commenced.
The expected EBITDA from the tunnel operations will be in the vicinity of $0.4 million, including a number of one-off costs associated with the testing, commissioning and staff engagement prior to the opening of the facility to the public on 26 April 2014.
The ISA Group EBITDA for the financial year will be a loss in the range of $1.9 to $2.1 million. This reflects the impact of group corporate costs which have ramped up over the period to support the Company's growth strategy.
The final net profit/(loss) result will be affected by the accounting treatment of the Exclusive Joint Territory Agreement with iFly Australia Pty Ltd (see ASX Announcement 20 December 2013), performance rights issued pursuant to the ISA Group Performance Rights Plan approved by shareholders on 27 November 2013 and the recognition of deferred tax losses.
The audit of the 2014 financial statements is in progress. ISA Group anticipates that the final results, including the full financial report, will be released in late August 2014.
Further information on ISA Group is available at:
http://www.indoorskydiveaustralia.com.au
About Indoor Skydive Australia Group Ltd
Indoor Skydive Australia Group (
ASX:IDZ) was established on 04 Nov 2011 as the parent company to facilitate a number of indoor skydiving facilities to cross our region in the next 3-5 years. These facilities allowing human flight within a safe environment are currently used by tourists, enthusiasts and military throughout the world including the Australian Military and active Skydivers. Flexible operating hours, low overheads and proven technology are just a few of the highlights that support the company’s business model.
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