Bulletproof FY17 Forecast Results & Guidance

22 December 2016 – ASX Announcement

Bulletproof Group provides forecast results for the half year ended 31 December 2016 and confirms profit guidance for the full year ended 30 June 2017.

FY17 Full Year Results Guidance

• Underlying1 profit guidance is re-affirmed, with EBITDA c.$6.0m, and EBIT of c.$1.5m
• Second half FY17 strong underlying1 profitability turn-around is driven by restructuring and cost savings implemented in the first half of FY17
• Full year revenues are expected to be c.$54.0m, up 14% on FY16, down 10% on previous guidance, resulting from reduced sales bookings, with the last six months focused on improving profitability

H1 FY17 Results Forecast

• Half year revenue is forecast to be c.$24m, up 11% on 1H FY16, with growth affected by customer-side project delays and lower than expected sales bookings
• Underlying1 EBITDA is forecast to be a loss of c.($0.5m), and EBIT a loss of c.($2.8m), as integration, consolidation and cost reductions take time to translate into bottom line results
• Write down of c.$3.6m of capitalised product development costs, as part of re-structure and re-focus of the business

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