(ASX:ODA)

Yurika is building an electricity transmission line to the Olive Downs Complex, in the Bowen Basin of Queensland.

Kestrel Coal Mine

ORCODA's subsidiary The Betta Group signs $4.1 million contract with Yurika and ORCODA signs SaaS contract with Kestrel Coal Resources.

Orcoda (ODA:ODA)

MELBOURNE, VIC, AUSTRALIA, February 10, 2023 /EINPresswire.com/ -- ORCODA Limited (ASX:ODA) signs key utilities and resources clients totalling ~$4.35m

ORCODA's subsidiary The Betta Group signs $4.1 million contract with Yurika
• The Betta Group signs $4.1 million contract with Yurika to deliver infrastructure works for transmission line project at the Pembroke Olive Downs Complex.
• Works to be executed and completed in 2H FY23.
• The $4.1 million of revenue is expected to be earned in 2H FY23.
• Yurika is part of Energy Queensland — the largest, wholly government-owned electricity company in Australia.
• Yurika is building an electricity transmission line to the Olive Downs Complex, a large scale steelworks coal mine located in the Bowen Basin of Queensland.

ORCODA signs SaaS contract with Kestrel Coal
• Kestrel Coal is one of the world’s largest producing underground metallurgical coal mines that produces estimated 7 million tonnes of metallurgical coal annually.
• The ORCODA Workforce Logistics System (OWLS) provides a tailored solution to manage and oversee the workforce accommodation of Kestrel Coal’s 700-strong employees and contractors on site to enhance automation, efficiency and compliance.
• The SaaS contract is for an initial term of three years, with revenue being made up of an initial implementation fee plus a monthly license fee with a contract value of $255,000 (inc GST)
• There is potential for this value to grow if Kestrel Coal later wishes to use additional features of the OWLS platform.

Record December Quarter FY23 - Financial Highlights
• 1H FY23 saw record revenue with $11.3 million in customer receipts and $9.7 million total income, a 27% and 18% increase respectively from 1H FY22.
• 1H FY23 had positive operating cash flows of $434k notwithstanding continued investments in sales & marketing and software development and higher wages / one-off costs in Betta Group to position Orcoda for sustainable profitable growth.
• Developing car management software product using existing technology and market interest. Company is well-funded with $3.0m available working capital including $2.0m cash

Susan Dobell
ORCODA LIMITED
+61 404 988 860
email us here

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