Chairmans’s Address at the 2022 Annual General Meeting

"With increasing ESG tailwinds we are in a commanding position to service an expanding addressable market and capitalise on our many competitive advantages with our global footprint and industry leading Environmental Intelligence solutions."


4 min


Dear fellow shareholders,

I am very pleased to welcome you to Envirosuite’s 2022 Annual General Meeting and to acknowledge a significant year of activity in the growth of your Company.

The new macro-economic environment with widespread inflation and the aggressive response of central banks has significantly impacted equity market valuations.

Envirosuite, I am pleased to say, has been able to respond positively to the changing conditions by bringing forward its pathway to profitability, while continuing to pursue and achieve strong revenue growth. As a result, I am pleased to reiterate that we have a clear pathway towards adjusted EBITDA profitability in FY2023 with a strong cash balance. With increasing ESG tailwinds we are in a commanding position to service an expanding addressable market and capitalise on our many competitive advantages with our global footprint and industry leading Environmental Intelligence solutions.

Despite the challenging economic conditions we have not observed any reprioritisation of ESG considerations in the corporate sector with our clients clearly recognising that Envirosuite’s products are ‘mission critical’ to optimising productivity in an increasingly regulated ESG-driven environment. Simply put, without EVS Aviation, planes don’t fly, without EVS Omnis, industries stop and, while still early in its lifecycle, we also see EVS Water becoming very much embedded in the global water sector.

The investments we have made in product, people and presence has provided the foundation to significantly grow high-margin recurring revenues on a stable cost base that we continue to optimise. While we remain committed to innovation, our market-leading technologies are mature and our commercial focus is on accelerating new sales, strategic expansion, and scaling.

Our industrial product, EVS Omnis, is our growth engine where we are seeing existing customers expanding their deployments from initial project sites to larger rollouts, as well as new and significant clients opening-up adjacent industry verticals.

We recently entered into a global strategic alliance agreement with SGS, the world’s leading testing, inspection, and certification company. The resulting bundled market offering, is expected to expand global market opportunities, accelerate revenue growth, and increase customer value for both companies.

We have positioned EVS Omnis to grow exponentially, and the team have the mandate to aggressively drive this growth through our new and existing clients as well as our global partners. To this end the Company has successfully completed the transition of its operations centre to our new Philippines office in Clark Global City. The success of this optimisation and scaling initiative provides an excellent base to support the entire Company’s continued growth.

In December 2021, the Company raised $10.5m to accelerate the commercialisation of EVS Water and I am pleased to say that the product’s commercial value is now well proven with global clients, and a rapidly growing number of prospects. Revenues from this pure SaaS offering are expected to make an increasingly meaningful contribution towards Envirosuite’s overall profitability in the coming years.

EVS Aviation has rebounded strongly from the pandemic-related travel restrictions, particularly in the second half of 2022, when air traffic surged back towards pre-pandemic levels. As the recognised leader in aviation noise and vibration monitoring, it is pleasing to see airports re-engage with their commitment to continuous improvement that has translated to new project work in addition to significant renewals from existing EVS Aviation customers.

As part of our strategic growth agenda, Envirosuite retains the corporate advisory expertise of Gresham Partners and RW Baird to assist in identifying, evaluating and pursuing corporate opportunities globally. While we are not engaged in any discussions at the moment, we will continue to assess potential opportunities as they emerge with a focus on maximising value for our shareholders.

CEO Jason Cooper joined the Board as Managing Director in March this year and we secured a key executive appointment in Justin Owen as Chief Financial Officer, with interim CFO Michael Hamilton moving into the position of Head of Strategy. We also welcome Stuart Bland as a non-executive director who adds significant additional expertise to the board with his complementary knowledge, skills and ASX100 SaaS company experience.

Thank you to all our team for their dedication and hard work over the past year, and to all our shareholders for your continued support and interest in your sector-leading Environmental Intelligence company.

David Johnstone