Field Solutions Holdings Ltd Wins Contract With Networking Tasmania

Field Solutions Holdings Ltd (ASX: FSG) has won a further contract as the leading rural, regional, and remote telecommunications carrier in Australia.

Today the company has won its first award to supply Data and Internet Services (on top of its current Infrastructure as a Service long-term contract), to Tasmanian Government agencies.

It will supply IP Transit capacity to Tasmania Digital Strategy and Services (DSS).

Highlights include a 5-year term with $1.3 million in total contract revenue.

FSG is an NBNco Retail Service Provider.

Andrew Roberts, CEO, commented:

“This agreement with DSS marks the first under the new SOA and underscores FSG’s commitment to Tasmania, as well as utilising its extensive digital infrastructure and Security capabilities in the region.

“We now can work with all other government agencies to deliver Internet and WAN services with Integrated Security capabilities such as Threat detection and fully Encrypted Software-defined Networking, where traditionally, Telstra was the only available option.”

Last week Field Solutions won a contract worth $2.6 million to upgrade the connectivity infrastructure at Glencore’s Rolleston village.

The company’s mining division continues its growth, adding both capability and capacity to its impressive portfolio of mining-oriented technology solutions, with existing clients including Kestrel Coal and Ravenswood Gold.

Key financials for H1 FY24 had revenue increasing 19% to $30.12 million.

EBITDA was up 20% to $2.12 million and cash flow from operations gained 97% to $5.17 million.

There was an NPAT loss of $3.27 million which included amortisation of contracts acquired on the acquisition of TasmaNet.

FSG acquired TasmaNet in 2022.

 

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