Hubify : HFY 1H FY22 Interim Financial Report

Hubify Limited

Appendix 4D

Half-year report

	1. Company details
	Name of entity:	Hubify Limited
	ABN:	60 607 921 246
only
	Reporting period:	For the half-year ended 31 December 2021
	Previous period:	For the half-year ended 31 December 2020
	2. Results for announcement to the market
						$
	Revenues from ordinary activities		up	28.8%	to	11,549,938
use
	R venue from contracts with customers	up	37.8%	to	10,794,019
	Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)	down	64.5%	to	431,144
	Profit before income tax		down	102.4%	to	(18,954)
	Profit for the year attributable to the members of Hubify Limited	down	78.4%	to	140,847
	Net Tangible Assets per ordinary security	up	2.7%	to	1.23 cents
personal
	C sh and cash equivalents		down	7.7%	to	4,679,345

Comments

HFY achieved an EBITDA of $431,144 for 31 December 2021 half-year with a statutory net profit after tax of $140,847. This profit was generated on revenue of $11,549,938, a 28.8% increase compared to the prior half-year. The final cash position at the end of the half-year was $4,679,345.

3.	Net tangible assets
			Reporting	Previous
			period	period
			Cents	Cents
	N	t tangible assets per ordinary security	1.23	1.20
4.	Loss of control over entities
	Not applicable.
5.	Dividends
For

There were no dividends paid, recommended or declared during the current financial period.

6. Dividend reinvestment plans Not applicable.

7. Details of associates and joint venture entities

Not applicable.

Hubify Limited

Appendix 4D

Half-year report

8. Foreign entities

Details of origin of accounting standards used in compiling the report: onlyNot applicable.

9. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report.

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	10. Attachments
	Details of attachments (if any):
	The Interim Report of Hubify Limited for the half-year ended 31 December 2021 is attached.
	11. Signed
personalFor
	Signed ___________________________	Date: 28 February 2022

Victor Tsaccounis

Director

Sydney

onlyHubify Limited

ABN 60 607 921 246

useInterim Report - 31 December 2021 personalFor

Hubify Limited Corporate directory 31 December 2021

Directors

onlyCompany secretary Registered office and principal place of business

Share register

useAuditor

personalSo icitors Bankers

For

Stock exchange listing

Website

Corporate Governance Statement

Anthony Ghattas - Chairman

Victor Tsaccounis - Chief Executive Officer

Charbel Nader

Nick Fitzgerald

Suite 1.03, Level 1

6-10 Talavera Road

Macquarie Park

NSW 2113

Phone:[phone]

Advanced Share Registry Services

110 Stirling Highway

Nedlands

WA 6009

Phone: [phone]

Rothsay Chartered Accountants

Level 1, 6 O'Connell Street

Sydney

NSW 2000

HWL Ebsworth Lawyers

Level 14 - Australia Square

264-278 George Street

Sydney

NSW 2000

Sekel Grindberg Lawyers

Level 8 - Currency House

23 Hunter Street

Sydney

NSW 2000

National Australia Bank

85-95 Marrickville Rd

Marrickville

NSW 2204

Westpac Banking Corporation

425 Victoria Ave

Chatswood

NSW 2067

St George Bank

Level 3

1 Chifley Square

Sydney

NSW 2000

Hubify Limited shares are listed on the Australian Securities Exchange (ASX code: HFY)

www.hubify.com.au

www.hubify.com.au/investor-centre/governance/

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Hubify Limited Directors' report 31 December 2021

The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Hubify Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2021.

Directors

The following persons were directors of Hubify Limited during the whole of the financial half-year and up to the date of this report:

A thony Ghattas
Victor Tsaccounis
Charbel Nader
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Principal activities
During the financial half-year the principal continuing activities of the consolidated entity consisted of:
	sale, customisation and integration of IT and telecommunications systems
	managing technology products and services for customers
	maintenance of IT and telecommunications systems
	internet based selling of hardware and software products
Dividends
Dividends paid/payable during the financial half-year were as follows:
seu		31 Dec 2021	31 Dec 2020
		$	$
Dividends paid/payable to shareholders of Hubify Limited	-	-
personal

Review of operations

In 1H FY22 Hubify Limited (HFY) effected novation of Customer agreements from Optus Enterprise effective 1 October 2021

a d HFY successfully recruited technical and project management staff to fulfill the immediate increase in services and gr wth in the Managed Services Division. Costs associated with onboarding staff to support new customer contracts and the

necessary building of expertise in Enterprise Managed services has significantly grown revenue from contracts with customers (up 37.8% on the prior corresponding period to 31 December 2020).

After investments in the Managed Services support model, HFY achieved a statutory net profit after tax of $0.14 million in the six months to 31 December 2021 (down 78.4% from $0.65 on the prior corresponding period to 31 December 2020) from evenues of $11.549 million (up 28.8% on the prior corresponding period to 31 December 2020). EBITDA was $0.43 million (down 64.5% from $1.26 million on the prior corresponding period to 31 December 2020), and the final cash position at the

nd of the period was $4.68 million.

COVID-19

The COVID environment impacted revenue during the period across a number of areas from the provisioning and billing of clients, sales calls to customer prospects, and new client on-boarding. The company continued to support staff throughout difficult labour market conditions, even with reduced support from government and this had a negative impact on profitability.

ForThe impact of business closures due to COVID lockdowns was most pronounced in the key markets of Sydney and Melbourne across all business divisions. The mobility business division was particularly impacted with customers deferring purchase decisions whilst navigating the COVID environment and delays in hardware purchases from COVID impacts upon the global supply chain.

Hubify continues to follow recommendations from each State Government Health service and the Australian Government to provide a COVID-19 safe workplace.

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