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ASX : VYS 25.02.2021 VYSARN LIMITED ASX ANNOUNCEMENT VYSARN FINANCIAL RESULTS SIX MONTHS TO DECEMBER FY2021 Hydrogeological drilling service provider Vysarn Limited ( ASX : VYS ) ( Vysarn ) ( Company ) announces its financial results for the six ( 6 ) months to 31 December 2020 ( 1HFY21 ) . Summary of group results : - Revenue from operations $ 11.45 million - EBITDA $ 2.36 million - NPAT $ 0.94 million - Net Tangible Assets $ 25.27 million Cash and Cash Equivalents $ 8.10 million Results Commentary Vysarn's revenue from operations to 31 December 2020 of $ 11.45 million exceeded previous corresponding period revenue by $ 9.67 million and reflects an average of seven out of the Company's twelve drill rigs being deployed at any one time during the six months to 31 December 2020 . Maintainable consolidated corporate overheads ( excluding interest and depreciation ) were approximately $ 0.32 million per month . Management anticipates that this cost will remain relatively stable going forward other than cost increases associated with staff headcount to meet Company growth initiatives . Earnings Before Interest , Tax , Depreciation and Amortisation ( EBITDA ) was $ 2.36 million and Net Profit After Tax ( NPAT ) was $ 0.94 million for the six months to 31 December 2020 . Average EBITDA for the months of July through November was $ 0.50 million per month . December produced an EBITDA loss of $ 0.14 million due to early mine shutdowns exacerbated by prolonged unfavourable weather conditions . NPAT included a $ 0.29 million income tax benefit due to the unwinding of the deferred tax liability against the gain on bargain purchase recognised in FY2020 and no tax cost due to the Federal Government's COVID - 19 related instant asset - write off scheme . The Company's balance sheet shows Net Tangible Assets of $ 25.27 million . Cash and Cash Equivalent position at Balance Sheet date of 31 December 2020 was $ 8.10 million . The decrease in the Cash and Cash Equivalent position of approximately $ 1.60 million versus 30 June 2020 is primarily due to ongoing rig readiness and rebuild costs , capital expenditure on new ancillary equipment , and the repayment of equipment finance facilities . Vysarn Limited | ABN : 41 124 212 175 | ACN : 124 212 175 | 108 Outram St , West Perth , WA 6005 | PO Box 1974 , West Perth WA 6872 | T +61 ( 0 ) 8 6144 9777 | E info@vysarn.com.au | vysarn.com.au