Harvest Technology : Half-Year Financial Report and Appendix 4D

For personal use only

HARVEST TECHNOLOGY GROUP LIMITED

ABN 77 149 970 445

HALF-YEAR FINANCIAL REPORT

PERIOD ENDED 31 DECEMBER 2021

HARVEST TECHNOLOGY GROUP LIMITED | HALF-YEAR REPORT | 31 DECEMBER 2021 | APPENDIX 4D

APPENDIX 4D

Preliminary financial statements for the half-year ended 31 December 2021 as required by ASX listing rule 4.2A

Results for announcement to the market
(All comparisons to half-year ended 31 December 2020)
only
		31 December 2021	31 December 2020	Change	Change
use			$	$	$	%
Revenue from ordinary activities	849,860	964,751	(114,891)	(11.91)
Revenue from discontinued		2,642,929	1,227,784	1,415,145	215.26
operations
Loss from ordinary activities after tax	(6,700,399)	(3,008,262)	(3,692,137)	222.73
Loss from discontinued operations	(542,230)	(3,256,734)	2,714,504	(83.35)
personal	after tax
Loss attributable to members		(7,242,629)	(6,264,996)	(977,633)	115.60
Dividends	Amount per share (cents)	Franked amount per share (cents)
Final		Nil			Nil
Half-year		Nil			Nil

Harvest Technology Group has not proposed to pay any dividends.

		31 December 2021	31 December 2020
	Net Tangible Assets per share (cents)	0.39	0.34
	Additional information supporting the Appendix 4D disclosure requirements can be found in the Director's Report and
	the consolidated financial statements for the half-year ended 31 December 2021.
For

This report is based on the consolidated financial statements for the half-year ended 31 December 2021 which have been reviewed by HLB Mann Judd. The independent auditor's review report contains an emphasis of matter in relation to going concern as further detailed in Note 1.5.

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For personal use only

HARVEST TECHNOLOGY GROUP LIMITED | HALF-YEAR REPORT | 31 DECEMBER 2021 | 2021 HALF-YEAR FINANCIAL REPORT

HARVEST TECHNOLOGY GROUP LIMITED

2021 HALF-YEAR FINANCIAL REPORT

Period ended December 31, 2021

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HARVEST TECHNOLOGY GROUP LIMITED | HALF-YEAR REPORT | 31 DECEMBER 2021 | CONTENTS

CONTENTS
only
DIRECTORS REPORT.................................................................................................................................................	5
AUDITOR'S INDEPENDENCE DECLARATION ........................................................................................................	11
CONSOLIDATED STATEMENT OF FINANCIAL POSITION ....................................................................................	12
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ....................	13
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ....................................................................................	14
CONSOLIDATED STATEMENT OF CASH FLOWS..................................................................................................	15
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ..............................................................................	16
DIRECTORS' DECLARATION ...................................................................................................................................	32
INDEPENDENT AUDITOR'S REVIEW REPORT ......................................................................................................	33
CORPORATE DIRECTORY.......................................................................................................................................	35
For personaluse

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HARVEST TECHNOLOGY GROUP LIMITED | HALF-YEAR REPORT | 31 DECEMBER 2021 | DIRECTOR'S REPORT

DIRECTORS REPORT

onlyThe Directors present their report together with the consolidated financial statements of Harvest Technology Group Limited ("Company") and the entities it controls (together, the "Group"), for the half-year ended 31 December 2021 and the auditor's report thereon. The consolidated financial statements have been reviewed and approved by the directors on the recommendation of the HTG Audit and Risk Committee.

DIRECTORS

The names of the Directors who held office during or since the end of the half-year period and until the date of this r port are noted below. Directors were in office for the entire period unless otherwise stated:

Name
Jeffery Sengelman, Chairman, Independent Non-Executive Director
use
Paul Guilfoyle, Group Chief Executive Officer, Executive Director
Stuart Carmichael, Non-Executive Director
personal	- Appointed July 8, 2021

Rod Evans, Non-Executive Director

Marcus Machin, Non-Executive Director

Company Secretaries

Jack Rosagro was appointed to the role of Joint Company Secretary on October 8, 2021, with Joel Ives continuing to act as Joint Company Secretary.

OPERATING AND FINANCIAL REVIEW

Group Overview

The principal activities of the entities within the Group during the period were the:

For	•	Development and delivery of proprietary software, products and services enabling the secure encrypted

transfer of data, including high-definition video and audio, from anywhere via satellite or congested networks at ultra-low bandwidths

• Provision of a SaaS-based mobile technology platform to provide enhanced connectivity and operational support to field technicians with enhanced user interface and integration with job and project management software

• Provision of offshore solutions and engineering services for subsea intervention projects and asset integrity risk mitigation

The above products and services are provided primarily to the energy, maritime, resources, field service and renewable energy sectors.

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