The Rakon Limited Board of Directors is pleased to advise that Rakon has secured several significant orders from new and existing customers including a material order from a new multi-national customer. Rakon expects to deliver the majority of these orders in FY2022, with the balance in FY2023. Indicatively, Rakon expects that these orders will increase its revenue in FY2022 by at least 20% from FY2021.
To produce and deliver the volumes in these orders requires an increase in capacity at Rakon’s New Zealand operations. In addition to sourcing materials for the products, Rakon is investing in equipment for additional manufacturing and testing capability, and hiring extra technicians, operators and engineers to meet the demand.
These orders are not expected to impact Rakon’s financial performance for FY2021 and Rakon confirms its current guidance for FY2021 of Underlying EBITDA1 of between NZ$20 million and NZ$22 million.