ASX RELEASE 31 January 2017 Market Update: First Half-Year Results
  • Operating revenue of $2.64m - up 50.1% on 1H 2015/16
  • Half-year loss of $0.39m compared with $0.91m loss in 1H 2015/16. Operating profit of $0.025m in December 2016
  • Over $1m of orders received in January 2017; a record for SIBS® IV wet brakes.
  • Operating cash outflow of $0.15m, compared to a $1.41m outflow in 1H 2015/16
  • Good order flow for Terra Dura® expected in 2nd half

Advanced Braking Technology (ASX: ABV) ('ABT' or 'the Company') wishes to advise the market of its unaudited results for the half-year to December 31 2016.

Trading revenue of $2.64m was up 50% for the first-half compared with same period in 2015/16, driven by stronger demand from both domestic and international mining customers. An improved first-half operating loss of $0.39m was supported by a profit of

$0.025m in the month of December. Total revenue was up 42.6% to $3.16m, while expenses fell a further 14.6% to $2.03m. These results were reflected in a major improvement in operating cash flow performance.

Stronger domestic demand for our failsafe product range underpinned our first-half. This has been complemented by strong international orders in January, with significant orders received from Mongolia, Canada and Indonesia.

ABT is very focused on executing its Terra Dura® roll out in the coming 6 months. The company will take delivery of its first production sets in February. In the first instance, ABT will be fulfilling 3 customer orders following successful trials and then meeting the needs of 9 other customers who will purchase individual kits for evaluation.

ABT's Managing Director, Graeme Sumner commented, "It has been pleasing to see that demand for our world leading failsafe products has picked up as we prepare to expand with our Terra Dura product range. Successful trials conducted over the past 7 months have now put us in a strong position for growth."

ENDS For further information, please contact:

Mr Graeme Sumner Chief Executive Officer

Advanced Braking Technology Ltd Telephone: +61 (0) 447275998 www.advancedbraking.com

About Advanced Braking Technology Ltd

Advanced Braking Technology Ltd (ASX: ABV) develops innovative braking systems, with its main product being the Sealed Integrated Braking System (SIBS ®), a comprehensively patented Australian invention, now used widely in light commercial vehicles in the mining industry.

Advanced Braking Technology Ltd. published this content on 31 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 January 2017 22:14:05 UTC.

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