ASG Group reports revenue of $160.1m

Group has signed $100 million worth of contracts, says CEO Geoff Lewis

ASG Group (ASX: ASZ) has reported a revenue of $160.1 million for the financial year 2014, an increase from last year’s revenue of $152.5 million.

Earnings before interest, tax, amortisation and depreciation (EBITDA) was $22 million, up from a loss of $19.9 million in 2013.

According to ASG Group CEO Geoff Lewis, the company signed $100 million worth of contracts during the past six months. Its customers include Clough, Australian Transport Safety Bureau and the Australian Maritime Safety Authority (AMSA).

ASG Group signed a five-year ICT services contract with AMSA for an undisclosed sum in early August, 2014.

AMSA is a federal government agency responsible for maritime safety, protection of the marine environment and search and rescue.

In a statement to the ASX, Lewis said the company would work with AMSA to transform its ICT from a “capital intensive” services model to a business outcomes based delivery model.

“Significant customer wins during FY14 have vindicated that our business focused utility-priced solutions are key to continued growth,” he said in a statement today.

“We have decreased our costs and will accelerate our debt reduction with the recent sale of our [Perth] data centre for $11.7 million. Our pipeline of opportunities exceeds $250 million.”

ASG Group announced plans to sell its Perth data centre to Vocus Communications (ASX: VOC) earlier this month.

Lewis said the Group's board had identified the Perth facility as a “non-core asset".

“While important to the workings of the Group, it was recognised that the data centre would be better in the hands of partner for whom data centres were core to their business. Vocus Communications is a leading telecommunications provider with extensive experience in operating data centres,” Lewis said at the time.

Follow Hamish Barwick on Twitter: @HamishBarwick

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Tags ASG Groupfinancial resultsASX:ASZ

More about Australian Maritime Safety AuthorityAustralian Transport Safety Bureau

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