A2B Australia (ASX: A2B) released FY2022 results Reports 10% increase in revenue

A2B Australia Limited (ASX: A2B) has announced its FY2022 results for the period ended 30 June 2022 and reported a 10% jump in the revenue to AU$125.1 million, driven by fleet and service fee income.

• It experienced an increase in the net loss from AU$18.1 million in FY2021 to AU$27.8 million in FY2022.
• A2B recorded an underlying EBITDA loss of AU$9.4 million, excluding the impact of AASB16 (AU$2.4 million) along with one-off significant items totalling AU$15.3 million, mainly due to costs linked with the transition, asset write-offs, terminations and restructuring.
• During the period, the Company appointed new leadership, a strategic review undertaken, and a cultural reset implemented. All these realign and refocus business priorities while strengthening the workforce

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