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MISSION STATEMENT
Ambertech Limited is an
acknowledged leader in the
identification, supply and
distribution of advanced
technologies for the Professional
and Consumer audio/visual
markets within the Oceania region.
Our purpose is to add significant
operational value by developing
and strengthening customer
relationships, expanding horizons
of opportunity and delivering strong
and continuous financial growth
and shareholder returns to stake
holders through our proven ability
to integrate, implement
and commercialise existing
and emerging technologies.
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CONTENTS
AMO Chair Letter........................................................................... 3
Business Overview.......................................................................... 5
Our Brands...................................................................................... 7
Some Amber Moments....................................................................8
Financial Report............................................................................ 13
Shareholders Information............................................................ 68
Corporate Directory..................................................................... 70
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AMO CHAIR LETTER
Dear Shareholders,
Over the past year, Ambertech successfully navigated a challenging operating
environment while accelerating momentum across our core segments. Despite market
headwinds specifically in the first half of the year, our strategic focus enabled us
to deliver uplift in full-year financial performance, highlighting the resilience of our
business model and reinforcing our long-term growth trajectory and ambitions.
I am delighted to share that we concluded FY25 with an increase of 6.0% in total
revenue to $101.2 million, a significant milestone for the Company and a clear
indicator of the strength and diversification of our business model. More importantly,
we delivered EBITDA of $4.3 million underpinned by a strong recovery in project
work in the latter part of the year.
Our FY25 financial performance was driven by a record second half, with revenue
of $55.9 million, following a softer first half of $45.4 million. This turnaround was
driven by the successful completion of delayed projects in Media Systems and Defence,
Law Enforcement and Emergency Services (DLES), and continued strong trading in our
major retail and commercial dealer network. These results demonstrate our ability to
respond to short-term challenges while staying focused on longer-term value creation.
Segment performance throughout the year was mixed but showed encouraging signs
of recovery and growth:
• Integrated Solutions continued its growth trajectory, recording a 4.6% increase
in revenue to $49.5 million with demand in unified communications, assistive
listening solutions, and commercial audio underpinning growth.
•The Professional segment reported FY25 revenue of $35.3 million as a backlog
of key projects were successfully delivered across the latter half of the year.
•Our Retail segment delivered strong performance, with revenue increasing by
27.1% to $16.4 million, underpinned by growing consumer demand for AV
accessories and home entertainment technologies.
Across the business, we continue to observe strong momentum, leveraging our expertise
and reputation in delivering complex, high-quality solutions. This is very evident in
the Defence, Law Enforcement and Emergency Services markets which have become
increasingly important to our long-term growth strategy, supported by structural trends
in government and enterprise technology investment.
Although we are pleased with the overall performance of the business, certain
consumer market segments continue to be affected by macroeconomic conditions,
particularly inflationary pressures on consumer spending. While these challenges
have impacted short-term demand, we remain confident in the underlying fundamentals
of these segments and anticipate a return to growth over the medium term as economic
conditions stabilise.
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Following an improved FY25 performance and in line with our commitment
to delivering long-term value to shareholders, we are pleased to reinstate
dividend payments. This decision reflects our confidence in Ambertech’s financial
position and the Company’s future growth trajectory. It also reinforces the strategic
direction we have taken and gives us strong optimism as we continue to position
the business for sustainable, long-term growth.
Looking ahead to FY26, we enter the new financial year with growing confidence.
We see continuing strength in our core segments and remain focused on delivering
project work in the professional and government sectors. Our strategy will focus on
achieving efficient growth through focus on existing brands where many opportunities
remain to increase our share of the addressable market.
On behalf of the Board, I would like to extend my sincere thanks to our employees for
their commitment and adaptability, to our customers and partners for their ongoing trust,
and to you, our valued shareholders, for your continued support and confidence. We
look forward to sharing another year of progress and achievement with you in FY26.
Yours sincerely,
Peter Wallace
AMO CHAIR LETTER (CONTINUED)
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INTEGRATED SOLUTIONS
FY25 Revenue: $49.5m
Addressable Market: $500m
Integrated Solutions represent the most diverse and technical arm of our
business, delivering world class product solutions and support to our
dealer network. The segment bridges the gap between technology and
its practical application in various environments, offering tailored solutions
for specific needs. We supply custom installation components for audio-
visual setups, offering a broad range of solutions to dealers
and consumers.
We have a national network of qualified AV installers and dealers
who can assist with residential and commercial AV projects. They also
distribute products to various other businesses including retailers, staging
companies, and broadcasters. Our dealer finder allows customers to
locate authorized dealers based on their location and product needs.
COMMERCIAL INSTALLATIONS
In the commercial installations space, we provide AV and control systems
for environments such as corporate boardrooms, educational institutions,
healthcare facilities, retail and hospitality venues.
RESIDENTIAL INSTALLATIONS
Our residential installation services include high-end home automation
systems, home theatres, and multi-room audio-visual systems, designed
to integrate seamlessly into luxury homes.
SPECIALIST HI FI
Our specialist hi fidelity range features renowned brands of loudspeakers,
amplifiers, media players, headphones, speakers for personal audio devices,
advanced home audio components and audio-video digital accessories.
BUSINESS OVERVIEW
Amber Technology is a leading value-added distributor of high-technology AV,
broadcast and communications solutions. We focus on delivering expert-level,
technology-driven solutions across multiple industries as we continue our legacy
as one of Australia’s and New Zealand’s leading distributors in the AV and
communications sectors.
With established credibility across multiple market verticals, we support our diversified
suppliers and customers, connecting end users with world class technology. We offer
a comprehensive portfolio of technology solutions tailored to meet the evolving
demands of various professional and consumer markets.
Our core solutions are structured into three primary divisions:
Integrated Solutions, Professional, and Retail.
Active Dealers: 1200+
Brands: 50
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PROFESSIONAL
FY25 Revenue: $35.3m
Addressable Market: $200m
In our Professional division, we are a key supplier of premium audio and video equipment
for industry professionals. We distribute a selected range of global brands known for
quality, innovation, and reliability. Our offering includes specialised technology for
sectors like Defence.
MEDIA SYSTEMS
Our media systems offering supports the complete content lifecycle from acquisition and
processing to delivery and asset management, catering to broadcasters, content creators,
and post-production houses.
DEFENCE, LAW ENFORCEMENT, AND SECURITY (DLES)
We play a critical role in the DLES sectors by supplying advanced communications,
video, and data technology systems for mission-critical applications. Our focussed range
of specialised products and expertise offers high performance in addition to secure
network extension.
PROFESSIONAL PRODUCTS
Our solutions support musicians, audio engineers, event production companies, and
broadcasting professionals, helping them achieve exceptional performance in both live
and studio environments.
MUSICAL INSTRUMENTS
We provide a range of high quality musical equipment, instruments and accessories
suitable for professional and home recording studios which are available through a
nationwide network of authorised resellers.
RETAIL
FY25 Revenue: $16.4m
Addressable Market: $100m
Our Major Retail division supplies home electronics retailers nationally, mass market retail
chains and independent specialist outlets with a range of products designed for everyday
use and home entertainment. This includes portable projectors, universal remote controls,
antennas, AV furniture, and lifestyle audio products.
We partner with popular global brands such as Philips and One For All to offer products
that combine functionality with ease of use, appealing to a broad consumer base seeking
high-quality home solutions.
Active Dealers: 700+
Brands: 5
Active Dealers: 450+
Brands: 35
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ABB
ABB-Free@home
Accent Visual
Acrovista
Advanced Network
Telemetry
Aja
Amadeus Acoustics
Ambertec Cables
Arista
Ateme
Australian Monitor
Autoscript
AVer
Avid
Barix
BATS Wireless
BirdDog
Black Box
Black Mountain
Blue Sky Mast
Blue Lucy
Bluesound
Bluesound Professional
Breedlove
Canare
Chiayo Electronics
Cioks
CP Cases
Dell EMC
Digital Projection
DPA Microphones
Duesenberg
Dynaudio Professional
Embrionix
Emotion Systems
Embrace
EVS
Framus Guitars
GB Labs
Grandview Screens
Haivision
Harrison Audio
Hotone
ICE Cables
iPort
ISO Acoustics
James by Sonance
JBL
JBL Synthesis
JTS Microphones
LEA Professional
Liberty AV
Litepanels
LP Morgan
Mark Levinson
MP Antennas
NAD Electronics
Netgear
Neutrik
Newline Interactive
Newtek
Nexidia
NTi Audio
Ochno
One For All
Optoma
Panasonic
Peplink
Peterson
Philips Projection
Plura
Primacoustic
Pro Control
PSB Speakers
Radial Engineering
Rean
Renkus Heinz
Revel
Robosen
Rockboard
Rock-n-Roller
RTI
Rycote
Sadowsky Guitars
Silvus Technologies
Solid State Logic
Sonance
South West Antenna
Spectra Logic
Strymon
Tascam
Teach Logic
Teenage Engineering
Telestream
Triad Systems
Troll Systems
TSL
UXV Technologies
Van Damme
Videssence
Vinten
Vipranet
Walla Walla Guitars
Wampler
Warwick Basses
Wasabi
Well AV
Williams AV
WolfVision
Woody Technologies
WyreStorm
Yamaha Revolabs
Zenitel
OUR BRANDS
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SOME AMBER MOMENTS
High End Show, Munich, May 2025
Zenitel at ISE Expo, Barcelona, February 2025
TSL at NAB Show, Las Vegas, April 2025
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Robosen at Flagship Store,
London
Melbourne Guitar Show
March 2025
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SOME AMBER MOMENTS
Integrate, Sydney ICC, August 2025
Pro-Media Demo Theatre at
Integrate, Sydney ICC, August 2025
Landforces, Melbourne, September 2024
The Team at Landforces, Melbourne, September 2024
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The Team at ABB Training, Amber HQ
TASCAM at Amber HQ
NAD Masters of Sound VIP Event, Melbourne, March 2025
West Coast Hi-Fi Malaga
JBL Synthesis Showroom Certification
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Neutrik celebrates 50 years
and visits Amber HQ
Leadership Training at Amber HQ
The Marketing team visits our Hi-Fi dealers as a research exercise
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AMBERTECH LIMITED
AND CONTROLLED ENTITIES
ACN 079 080 158
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2025
2 0 2 5
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
The directors present their report together with the financial statements of the consolidated entity consisting of
Ambertech Limited and its controlled entities, ("company" or "consolidated entity" or "economic entity") for the year
ended 30 June 2025 and the auditor's report thereon.
DIRECTORS
The qualifications, experience and special responsibilities of each person who has been a director of the Company at any
time during or since the end of the financial year are listed below, together with the details of the company secretary as
at the end of the financial year. All directors were in office during the whole of the financial year and up to the date of
this report unless otherwise stated.
Information on directors
Peter Francis Wallace
Chairman - Non Executive Director
Member of the Audit and Risk Management Committee and Member of the Remuneration and Nomination Committee.
Peter Wallace is the founder and Managing Director of Endeavour Capital Pty Limited, an independent corporate
advisory firm. Prior to establishing Endeavour Capital Pty Limited in 1998, he was an Investment Director with private
equity company Hambro-Grantham. Mr Wallace has been a non-executive director of over 30 groups of companies.
Mr Wallace has a Bachelor of Commerce degree from the University of New South Wales and a Master of Business
Administration degree from Macquarie University. He is a member of Chartered Accountants Australia and New
Zealand, and a fellow of the Australian Institute of Company Directors.
Mr Wallace has been a director of Ambertech’s Group companies since February 2000 and Chairman of Ambertech
Limited since October 2002.
Peter Andrew Amos
Managing Director
Peter Amos graduated from Sydney Technical College (now University of Technology, Sydney) with a Radio Trade
Certificate and from North Sydney Technical College with an Electronics Engineering Certificate. He joined Rank
Electronics, the Company from which Ambertech was formed via a management buyout, as a technician in the mid
1970s, rising from Senior Technician to Service Manager. Upon the formation of Ambertech Limited, Mr Amos became
Technical Director of the Ambertech Group. He also served in a senior role as Marketing Director of Quantum Pacific Pty
Ltd, another company owned by Ambertech Limited, until it was sold in the mid 1990s.
Mr Amos has served as Managing Director of Ambertech Limited since 1995 and presided over the growth of the
Company since that date. Mr Amos has been a director of Ambertech’s Group companies since 1987.
Thomas Robert Amos
Non-Executive Director
Chairman of the Audit and Risk Management Committee.
Tom Amos founded telecommunications consultancy Amos Aked Pty Limited in the early 1980s. His career in
telecommunications and media spans over 30 years, during which time he has been involved in all facets of the industry.
An engineer by profession, Mr Amos holds a B.E. (Electrical Engineering) degree from Sydney University.
Mr Amos has also been prominent in the telecommunication deregulation debate over a period of 15 years as a (former)
director and Vice Chairman of Australian Telecommunications Users Group Limited (“ATUG”) and as an industry
commentator. He is a director of Wave Link Systems Pty Limited.
Mr Amos has been a director of Ambertech’s Group companies since June 1997.
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
Santo Carlini
Non-Executive Director
Mr Santo Carlini was appointed to the Board as a Non-Executive Director effective 1 March 2020.
Mr Carlini brings to the Ambertech Board key Audio-Visual industry experience in the major professional and installation
market segments, with over 20 years dedicated to achieving the best product and service outcomes for customers. Mr
Carlini is General Manager at WES Alliance Pty Ltd (WES). The company was founded in 1984 and since 1995 he has
successfully grown, first as part of the team and then as General Manager, the WES business from a specialist supplier of
Electronic Parts to a leading supplier of audio, visual products and solutions to the domestic and commercial installation
market.
Mr Carlini has strong international products and supply experience. This expertise has been built from a business need
to match the continuous domestic market demands by sourcing products from around the world that are the best fit
audio and visual products to meet the demands of the competitive and evolving Australian marketplace.
Janine Rolfe
Non-Executive Director
Chair of the Remuneration and Nomination Committee
Janine Rolfe was appointed to the Board as an Non-Executive Director effective 18 September 2023.
Ms Rolfe brings over two decades of legal, governance and management experience across multiple sectors, including
highly regulated industries and complex global businesses.
Ms Rolfe is a professional non-executive director and currently sits on the boards of Cynata Therapeutics Limited
(ASX:CYP) and Cloudwerx Holdings Pty Limited. Ms Rolfe is also a Commissioner for the NSW Independent Casino
Commission, a statutory authority.
Previously, Ms Rolfe was General Counsel & Company Secretary of Link Administration Holdings Limited. Prior to that,
Ms Rolfe founded the boutique governance consultancy, Company Matters Pty Limited, and worked both as in-house
counsel at Qantas and in private practice at Mallesons Stephen Jaques (now King & Wood Mallesons).
Ms Rolfe is a member of the Australian Institute of Company Directors (AICD) and has a Bachelor of Economics and
Bachelor of Laws (Honours) from the University of Sydney.
Company Secretary and Chief Operating Officer
The following person held the position of Company Secretary at the end of the financial year: Robert John Glasson
Robert Glasson joined Ambertech Limited on 1 July 2002 and holds the position of Chief Operating Officer. He
previously held the position of Chief Financial Officer up until 30 June 2015. He has a Bachelor of Business degree from
the University of Technology, Sydney, and is a member of Chartered Accountants Australia and New Zealand. He was
appointed to the role of Company Secretary on 1 November 2004.
CORPORATE INFORMATION
Nature of operations and principal activities
The principal activities of the economic entity during the financial year were the import and distribution of high
technology equipment to the professional broadcast, film, recording and sound reinforcement industries; the import
and distribution of home theatre products to dealers; distribution and supply of custom installation components for
home theatre and commercial installations to dealers and consumers, and the distribution of projection and display
products with business and domestic applications.
There have been no significant changes in the nature of these activities since the end of the financial year.
Employees
The economic entity employed 144 employees as at 30 June 2025 (2024: 144 employees).
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
REVIEW AND RESULTS OF OPERATIONS
The consolidated profit of the economic entity after providing for income tax for the financial year was $844,000 (2024:
$1,362,000). Total revenues for the financial year increased by 6.0% to $101,219,000 (2024: $95,456,000). Whilst the
business was successful in achieving growth during the year, the reduced profit outcome is a result of increased costs
associated with managing that growth. The increased spend on marketing, employment costs and travel is designed to
support future growth goals.
Further information on the operations is included in the Chairman's and Managing Director's Report section of the
Annual Report, and in the ASX Appendix 4E.
FINANCIAL POSITION
The directors believe the economic entity is in a reasonably strong and stable financial position with the potential to
expand and grow its current operations. The year ended 30 June 2025 included positive operating cash flows of
$645,000 (2024: $5,022,000) whilst working capital and net tangible asset ratios remained steady.
The economic entity's working capital, being current assets, less current liabilities, increased by $398,000 to $19,332,000
as at 30 June 2025 (2024: $18,934,000). The net assets of the economic entity have increased by $889,000 to
$23,105,000 as at 30 June 2025 (2024: $22,216,000).
SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS
There were no significant changes in the state of affairs of the economic entity during the financial year.
MATERIAL BUSINESS RISKS
The material risks faced by the economic entity that are likely to have an effect on the financial prospects off the
economic entity are outlined below:
Market and Industry Risks:
Market Competition: Ambertech operates in a competitive distribution industry, which could lead to price pressures,
reduced margins, and loss of market share.
Technological Disruption: Technological advancements could render existing distribution methods and systems obsolete,
affecting our ability to meet customer demands and preferences.
Economic Conditions: Fluctuations in economic conditions, such as recessions or economic downturns, could impact
consumer spending, leading to reduced demand for our products in certain markets.
Supply Chain and Operational Risks:
Supply Disruptions: Interruptions in our supply chain, including transportation delays, production issues, or raw material
shortages, could result in inventory shortages and impact our ability to fulfill orders.
Regulatory Compliance: Non-compliance with regulatory requirements, such as import/export regulations or safety
standards, could lead to fines, legal liabilities, and reputational damage.
Financial Risks:
Credit and Counterparty Risk: Exposure to credit risk from customers or suppliers facing financial difficulties could result
in bad debts or supply disruptions.
Currency Fluctuations: Ambertech sources from multiple regions, exposing us to foreign exchange rate fluctuations that
could impact revenue and profitability.
Legal and Regulatory Risks:
Data Security and Privacy: Breaches in data security and privacy could lead to legal actions, reputational damage, and
loss of customer trust.
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
EVENTS SUBSEQUENTTO REPORTING DATE
On 14 August 2025, the economic entity entered into an agreement with Octet Finance Pty Ltd in relation to extending
its finance facilities for a further 12 months. The facilities include an invoice discounting facility with approval up to
$6,000,000 and a business transaction facility with a limit of $8,000,000.
On 21 August 2025, the Board resolved to pay a dividend of 0.6 cents per share, franked to 100%, in respect of the
period ended 30 June 2025. The record date is 26 September 2025, with a payment date of 17 October 2025. The
Dividend Reinvestment Plan will not be in effect for this dividend.
There were no other matters that have arisen since the end of the financial year that have significantly affected or may
significantly affect the operations or state of affairs of the economic entity in future financial years.
FUTURE DEVELOPMENTS, PROSPECTS AND BUSINESS STRATEGIES
The 2025-26 financial year has begun well, and as a result the Board of Ambertech Limited ("the Board") is optimistic
that it can deliver on business strategies, which continue to focus on growth and returning positive results for investors
in the short term. At this early stage the Board is unable to provide guidance on potential results with any certainty;
however, expects to be able to update investors by the time of holding the company's AGM.
The board and management remain focused on utilising the traditional strengths of the Ambertech business as a
technical distributor to bring new products and brands to market and to redefine the methods and channels in which
the business operates. We are continuing to progress these initiatives which are the key drivers of future revenue and
profit growth.
ENVIRONMENTAL REGULATION
The company is subject to regulation by the relevant Commonwealth and State legislation. The nature of the company's
business does not give rise to any significant environmental issues.
REMUNERATION REPORT (AUDITED)
The information provided below includes remuneration disclosures that are required under the Corporations Act 2001
and its regulations. The disclosures contained within the remuneration report have been audited.
In formulating its remuneration principles, the Company has had to balance competing considerations. While
shareholder returns have not met expectations, the Board remains mindful of its responsibility to ensure the retention
and engagement of a capable and experienced Board and executive team. The Board recognises that these individuals
operate in a highly competitive talent market, where opportunities may exist in less complex environments with the
prospect of more attractive remuneration. For the 2025 financial year, staff and executive remuneration increases were
on average consistent with increases in the cost of living, except where roles and responsibilities changed. There were
no increases to non-executive director fees for the 2025 financial year.
Remuneration Strategy
Non-Executive Director Fees
Fees payable to the non-executive directors is considered by the Remuneration and Nomination Committee and taking
into account the Committee’s recommendations, is approved by the Board. In considering the fees payable to non-
executive directors, regard is had to market rates for directorships of comparable companies based on a range of
qualitative and quantitative factors alongside the Company’s own financial position and performance, and the
remuneration principles mentioned above .
Non-executive director fees are as follows, as last increased effective July 2023, and are inclusive of superannuation:
Non-Executive Directors - $47,500
Chair of the Board - $78,750
Chair of the Audit & Risk Management Committee - $6,000
Member of the Audit & Risk Management Committee - $4,000
Chair of the Remuneration & Nomination Committee - $4,000
Member of the Remuneration & Nomination Committee - $2,500
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
Non-executive director fees do not contain any non-monetary components nor any termination benefits payable.
Managing Director Remuneration
Remuneration of the Managing Director is considered by the Remuneration and Nomination Committee and taking into
account the Committee’s recommendations is approved by the non-executive directors. In considering the
remuneration payable to the Managing Director, regard is had to similar roles of comparable companies based on a
range of qualitative and quantitative factors, and the remuneration principles mentioned above. Remuneration for the
Managing Director comprises salary (inclusive of superannuation) and short and long term incentives.
The Managing Director receives an incentive element of his remuneration which is based on achievement of certain
targets. These targets include M&A, profit and individual performance related Key Performance Indicators (KPIs) related
hurdles, noting that achievement against the individual KPIs is only rewarded when the pre-determined profit threshold
is met (with the Managing Director also able to receive a stretch element too in the instance of overperformance of the
profit-related target). The total incentive amount payable is capped at a fixed rate rather than as a percentage of total
remuneration, however, if paid on target incentives would have represented approximately 25% of total salary for the
Managing Director.
KPIs for the Managing Director are reviewed and recommended annually by the Remuneration and Nomination
Committee and approved by the Board and the Board is conscious to ensure that these KPIs strike an appropriate
balance having regard to its remuneration principles described above.
Other Executives
Remuneration of other key executives is set by the Managing Director who gives consideration to normal commercial
rates of remuneration for similar levels of responsibility. Remuneration comprises salaries (inclusive of superannuation
and short and long term incentives (cash and equity, respectively).
Approximately 11% of the aggregate remuneration of the senior sales executives comprises an incentive element which
is related to the KPIs of those parts of the company's operations which are relevant to the executive's responsibilities.
The senior sales executives may also receive a sales commission component, which will vary with the sales performance
of those parts of the sales business for which they are responsible.
KPIs for executives stem from the KPIs for the Managing Director . KPIs are then tailored to each executive’s
responsibilities, focusing on areas where they have direct influence and accountability.
The table below sets out the economic entity's key shareholder indicators for the past 5 financial years:
2025
2024
2023
2022
2021
Dividends paid (cents per share)
0.6
1.2
1.5
3.1
-
Closing share price at 30 June ($)
$0.155
$0.20
$0.23
$0.27
$0.225
Net profit after tax ($’000)
844
1,362
1,930
3,681
5,090
Details of Remuneration
Details of the remuneration of the directors and the key management personnel (which includes directors) (as defined in
AASB 124 Related Party Disclosures) of the economic entity are set out in the following tables.
The key management personnel of the economic entity include the following:
Name
Position
P Wallace
Non-Executive Chairman
P Amos
Group Managing Director
T Amos
Non-Executive Director
S Carlini
Non-Executive Director
J Rolfe
Non-Executive Director
R Glasson
Group COO, Company Secretary
R Caston
General Manager, DLES
N Brady
General Manager, Integrated Solutions
G Simeon
General Manager, Media Systems and Professional
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
REMUNERATION REPORT (continued)
Executive key management personnel are those directly accountable to the Managing Director, while the Managing
Director is directly accountable to the Board. Collectively, the key management personnel are responsible for the
operational management and strategic direction of the Company.
The nature and amount of each major element of the remuneration of each of the key management personnel of the
parent and economic entity for the financial year are set out in the following tables.
Elements of Remuneration
2025
Short-term employment
benefits
Post
employment
benefits
Long-term
employment
benefits
Share
based
payments
Directors
Salary fees
and leave
Cash
Bonus
Superannuation
LSL accrued/
(taken)
Options
Total
Percentage Relating to
$
$
$
$
$
$
Performance
Options
P Amos
420,000
-
30,000
(33,069)
-
416,931
0.0%
0.0%
P Wallace
78,153
-
8,988
-
-
87,141
0.0%
0.0%
T Amos
48,198
-
5,543
-
-
53,741
0.0%
0.0%
S Carlini
42,793
-
4,921
-
-
47,714
0.0%
0.0%
J Rolfe
42,793
-
4,921
-
-
47,714
0.0%
0.0%
631,937
-
54,373
(33,069)
-
653,241
0.0%
0.0%
Executives
R Glasson
281,401
-
30,000
8,968
-
320,369
0.0%
0.0%
R Caston
217,422
20,000
27,303
(15,599)
-
249,126
8.0%
0.0%
N Brady
249,127
18,800
30,000
3,918
-
301,845
6.2%
0.0%
G Simeon
252,959
5,000
29,665
4,164
-
291,788
1.8%
0.0%
1,000,909
43,800
116,968
1,451
-
1,163,128
3.8%
0.0%
(1)
On 15 July 2024, a cash bonus of $20,000 was paid to Mr Caston relating to performance against KPIs for FY2024. The
bonus was 57.1% of the total available to Mr Caston under his KPI scheme.
(2)
On 15 July 2024, a cash bonus of $18,800 was paid to Mr Brady relating to performance against KPIs for FY2024. The bonus
was 62.7% of the total available to Mr Brady under his KPI scheme.
(3)
On 15 July 2024, a cash bonus of $5,000 was paid to Mr Simeon relating to performance against KPIs for FY2024. The bonus
was 100% of the total available to Mr Simeon under his KPI scheme.
(4)
No cash bonuses were paid in relation to performance against KPI’s for FY2024 for Mr Amos and Mr Glasson. The total
amount foregone by each was $140,000 for Mr Amos and $100,000 for Mr Glasson.
(5)
On 15 August 2025, a cash bonus of $27,750 was paid to Mr Caston relating to performance against KPIs for FY2025. The
bonus was 55.5% of the total available to Mr Caston under his KPI scheme.
(6)
On 15 August 2025, a cash bonus of $21,500 was paid to Mr Brady relating to performance against KPIs for FY2025. The
bonus was 47.8% of the total available to Mr Brady under his KPI scheme.
(7)
On 15 August 2025, a cash bonus of $16,000 was paid to Mr Simeon relating to performance against KPIs for FY2025. The
bonus was 53.3% of the total available to Mr Simeon under his KPI scheme.
(8)
No cash bonus was paid in relation to performance against KPIs for FY2025 for Mr Amos. The total amount foregone was
$150,000.
(9)
Bonuses in relation to performance against KPI’s the year ended 30 June 2025 for Mr Glasson had not yet been determined
and therefore have yet to be paid. The total amount is a maximum of $130,000 for Mr Glasson.
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21
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
REMUNERATION REPORT (continued)
2024
Short-term employment
benefits
Post
employment
benefits
Long-term
employment
benefits
Share
based
payments
Directors
Salary fees
and leave
Cash
Bonus
Superannuation
LSL accrued/
(taken)
Options
Total
Percentage Relating to
$
$
$
$
$
$
Performance
Options
P Amos
407,500
20,000
27,500
18,253
7,356
480,609
4.2%
1.1%
P Wallace
78,153
-
8,597
-
-
86,750
0.0%
0.0%
T Amos
48,198
-
5,302
-
-
53,500
0.0%
0.0%
S Carlini
42,793
-
4,707
-
-
47,500
0.0%
0.0%
J Rolfe
33,962
-
3,736
-
-
37,698
0.0%
0.0%
D Swift
17,903
-
11,370
-
-
29,273
0.0%
0.0%
628,509
20,000
61,212
18,253
7,356
735,330
2.7%
0.7%
Executives
R Glasson
247,748
10,000
27,500
7,345
8,925
301,518
3.3%
2.3%
R Caston
207,570
15,000
24,483
4,371
1,047
252,471
6.0%
0.2%
N Brady
250,107
10,333
28,648
675
3,007
292,770
3.5%
0.8%
705,425
35,333
80,631
12,391
12,979
846,759
4.2%
1.2%
(1)
On 15 August 2023, a cash bonus of $20,000 was paid to Mr P Amos relating to performance against KPIs. The bonus was
15.4% of the total available to Mr P Amos under his KPI scheme.
(2)
On 15 August 2023, a cash bonus of $10,000 was paid to Mr Glasson relating to performance against KPIs. The bonus was
16.7% of the total available to Mr Glasson under his KPI scheme.
(3)
On 15 August 2023, a cash bonus of $15,000 was paid to Mr Caston relating to performance against KPI's. The bonus was
50% of the total available to Mr Caston under his KPI scheme.
(4)
On 15 August 2023, a cash bonus of $10,333 was paid to Mr Brady relating to performance against KPIs. The bonus was
65% of the total available to Mr Brady under his KPI scheme.
(5)
On 15 July 2024, a cash bonus of $20,000 was paid to Mr Caston relating to performance against KPI's. The bonus was
57.1% of the total available to Mr Caston under his KPI scheme.
(6)
On 15 July 2024, a cash bonus of $18,800 was paid to Mr Brady relating to performance against KPI's. The bonus was 62.7%
of the total available to Mr Caston under his KPI scheme.
(7)
Cash bonuses in relation to performance against KPI’s the year ended 30 June 2024 for Mr Amos and Mr Glasson had not
yet been determined at year end and therefore have yet to be paid. The total amount for each is a maximum of $140,000
for Mr Amos and $100,000 for Mr Glasson.
25
22
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
REMUNERATION REPORT (continued)
Service agreements
The following table outlines the key terms of the employment agreements with each executive KMP:
KMP
Position
Contract Date
Base Salary
Termination Period
P Amos
Managing Director
21/07/2021
463,500
4 months (1) (2)
R Glasson
Chief Operating Officer
21/10/2024
320,000
4 months (3)
R Caston
General Manager
01/08/2017
237,440
3 months
N Brady
General Manager
11/10/2022
258,720
3 months
G Simeon
General Manager
23/01/2024
282,800
3 months
(1) In the event of a redundancy resulting from a change of control event, Mr Amos is entitled to a redundancy
package comprising 8 months base salary in addition to statutory entitlements.
(2) In the 12 months following a significant change of control event, Mr Amos is entitled to invoke a voluntary
redundancy which would entitle Mr Amos to a redundancy package of 6 months base salary in addition to
statutory entitlements.
(3) In the event of a termination resulting from a change of control event, Mr Glasson is entitled to a redundancy
package comprising 6 months base salary in addition to statutory requirements.
For each KMP, in the event of termination, base salary is payable for the termination period, along with any commissions
or bonuses that have been earned. All Executive KMPs have a restraint of trade clause restricting competitive
employment for a period of 12 months.
Other transactions with Key Management Personnel and their Related Parties
During the financial year, sales totaling $348,414 to Wes Components Pty Ltd (director-related entity of Santo Carlini)
were made. The current trade receivable balance as at 30 June 2025 is $50,127. All transactions were made on normal
commercial terms and conditions at market rates.
Share based compensation
The company has adopted an Employee Share Option Plan (ESOP). The Board of Directors may determine the executives
and eligible employees who are entitled to participate in the ESOP.
The options issued under the ESOP will expire 5 years after the issue date, or earlier on any of the following events:
a
the eligible employee is dismissed with cause or has breached a restriction contained in his/her employment contract;
b
the eligible employee dies while in the employ of the Company;
c
the eligible employee is made redundant by the Company;
d
the eligible employee’s employment with the Company is voluntarily terminated by the eligible employee; or
e
the eligible employee’s employment terminates by reason of normal retirement.
The total number of shares reserved for issuance under the ESOP, together with shares reserved for issuance under any
other Option Plan, shall not exceed 5% of the diluted ordinary share capital in the Company (comprising all Shares, all
Options issued under the ESOP and under any other Option Plan, and all other convertible issued securities).
The ESOP provides the Board with the ability to determine the exercise price of the options, the periods within which the
options may be exercised, and the conditions to be satisfied before the option can be exercised.
The ESOP provides for adjustments in accordance with ASX Listing Rules if there is a capital reconstruction, a rights issue
or a bonus issue.
25
23
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
REMUNERATION REPORT (continued)
Movements in options previously granted to KMPs as remuneration were as follows:
KMP
Opening Balance
Lapsed (1)
Closing Balance
P Amos
Issued
875,000
(312,500)
562,500
Exercisable
187,500
-
187,500
R Glasson
Issued
900,000
(262,500)
637,500
Exercisable
262,500
-
262,500
R Caston
Issued
387,500
(112,500)
275,000
Exercisable
175,000
-
175,000
N Brady
Issued
200,000
(50,000)
150,000
Exercisable
50,000
-
50,000
(1) Options that lapsed during the period were a result of performance hurdles not being met.
During the financial year, no options vested with key management personnel (2024: 475,000). During the year no
options were exercised (2024: Nil), and 737,500 options lapsed (2024: Nil).
In relation to bonus issues, each outstanding option confers on the option holder the right to receive, on exercise of
those outstanding options, not only one share for each of the outstanding options exercised but also the additional
shares the option holder would have received had the option holder participated in that bonus issue as a holder of
ordinary shares.
Interests of Key Management Personnel
Movements in the holding of ordinary shares by key management personnel were as follows:
KMP
Opening Balance
Movement
Closing Balance
Directors
P Wallace
3,212,062
-
3,262,062
P Amos
5,322,555
-
5,322,555
T Amos
7,463,681
75,000
7,538,681
S Carlini
31,288,090
1,547,339
32,835,429
Executives
R Glasson
15,000
3,000
18,000
R Caston
72,500
-
72,500
G Simeon
1,000
-
1,000
Balances are current as at the date of this report.
Voting and Comments made at the Company’s 2025 Annual General Meeting (AGM’)
The Company received 95% of “for” votes in relation to its remuneration report for the year ended 30 June 2025. No
issues were raised with Directors concerning the Report.
This concludes the Remuneration Report which has been audited.
25
24
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
DIVIDENDS
On 21 August 2025 the Board of Ambertech resolved to pay a final dividend of 0.6 cents per share, fully franked. The record
date for the dividend was 26 September 2025, with a payment date of 17 October 2025.
DIRECTORS' MEETINGS
The number of directors' meetings (including meetings of committees of directors) and the number of meetings attended by
each of the directors of the Company during the financial year are:
Board Meetings
Audit and Risk Management
Committee Meetings
Nomination and Remuneration
Committee
Director
Attended
Held
Attended
Held
Attended
Held
P Wallace
9
9
2
2
2
2
P Amos
9
9
-
-
-
-
T Amos
9
9
2
2
-
-
S Carlini
9
9
-
-
-
-
J Rolfe
9
9
-
-
2
2
OPTIONS
Shares under option
There were 2,825,000 unissued ordinary shares of Ambertech Limited under option at the date of this report which have
a weighted average exercise price of 25.7 cents and a weighted average remaining contractual life of 3.6 years.
Shares issued on the exercise of options
There were no ordinary shares of Ambertech Limited issued during the year ended 30 June 2025 and up to the date of
this report on the exercise of options previously granted.
NON-AUDIT SERVICES
BDO Audit Pty Ltd continues in office in accordance with section 327 of the Corporations Act 2001.
It is the economic entity's policy to employ BDO Audit Pty Ltd and their respective related entities (BDO) for assignments
additional to their annual audit duties, when BDO's expertise and experience with the economic entity are important.
During the year these assignments comprised primarily tax compliance assignments. The Board of Directors is satisfied
that the auditors' independence is not compromised as a result of providing these services because:
All non-audit services have been reviewed by the Audit and Risk Management Committee to ensure they do not
impact the impartiality and objectivity of the auditor, and
None of the services undermines the general principles relating to the auditor independence as set out in APES
110 Code of Ethics for Professional Accountants, including reviewing or auditing the auditors' own work, acting
in a management or decision-making capacity for the company, acting as an advocate for the company or
jointly sharing economic risks and rewards.
During the year fees that were paid or payable for services provided by the auditor of the parent entity and its
related practices are disclosed at note 29.
The directors are satisfied that the provision of non-audit services during the year by the auditor is compatible with
the general standard of independence for auditors imposed by the Corporations Act 2001.
AUDITORS' INDEPENDENCE DECLARATION
A copy of the auditors' independence declaration as required under section 307C of the Corporations Act 2001 is set
out on page 14.
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25
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ REPORT
PROCEEDINGS ON BEHALF OF THE COMPANY
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings
on behalf of the company, or to intervene in any proceedings to which the company is a party, for the purpose of
taking responsibility on behalf of the company for all or part of those proceedings.
No proceedings have been brought or intervened in on behalf of the company with leave of the Court under section
237 of the Corporations Act 2001.
INDEMNIFICATION OF OFFICERS
The company has indemnified the directors and executives of the company for costs incurred, in their capacity as a
director or executive, for which they may be held personally liable, except where there is a lack of good faith.
During the financial year, the company paid a premium in respect of a contract to insure the directors and
executives of the company against a liability to the extent permitted by the Corporations Act 2001. The contract of
insurance prohibits disclosure of the nature of liability and the amount of the premium.
ROUNDING
The company is of a kind referred to in Corporations Instrument 2016/191, issued by the Australian Securities and
Investments Commission, relating to 'rounding-off'. Amounts in this report have been rounded off in accordance
with that Corporations Instrument to the nearest thousand dollars, or in certain cases, the nearest dollar.
Signed in accordance with a resolution of directors.
Director:
P F Wallace
P A Amos
Dated this 25th day of August 2025
Sydney
25
26
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
CONSOLIDATED ENTITY DISCLOSURE STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
Basis of Preparation
This Consolidated Entity Disclosure Statement (CEDS) has been prepared in accordance with the Corporations Act
2001. It includes certain information for each entity that was part of the consolidated entity at the end of the financial
year.
The following entities were part of the consolidated entity at the end of the financial year:
Name of Entity
Type of Entity
Trustee,
partner or
participant in
joint venture
% of
Share
Capital
Held
Country of
Incorporation
Australian or
Foreign
Resident (tax
purposes)
Tax
Jurisdiction
of Foreign
Residents
Ambertech Limited
Body Corporate
N/A
N/A
Australia
Australia
N/A
Amber Technology Limited
Body Corporate
N/A
100%
Australia
Australia
N/A
Alphan Pty Limited
Body Corporate
N/A
100%
Australia
Australia
N/A
Connected Media Australia Pty Ltd
Body Corporate
N/A
100%
Australia
Australia
N/A
Amber Technology (NZ) Limited
Body Corporate
N/A
100%
New Zealand
Foreign
New Zealand
Determination of Tax Residency
Section 295 (3A) of the Corporation Acts 2001 defines tax residency as having the meaning in the Income Tax
Assessment Act 1997. In determining tax residency, the consolidated entity has applied the following interpretations:
Australian tax residency
The consolidated entity has applied current legislation and judicial precedent, including having regard to the Tax
Commissioner's public guidance in Tax Ruling TR 2018/5.
Foreign tax residency
Where necessary, the consolidated entity has used independent tax advisers in foreign jurisdictions to assist in
determining tax residency and ensure compliance with applicable foreign tax legislation.
25
27
Tel: +61 2 9251 4100
Fax: +61 2 9240 9821
www.bdo.com.au
Parkline Place
Level 25, 252 Pitt Street
Sydney NSW 2000
Australia
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050
110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are
members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent
member firms. Liability limited by a scheme approved under Professional Standards Legislation.
DECLARATION OF INDEPENDENCE BY JOHN BRESOLIN TO THE DIRECTORS OF AMBERTECH LIMITED
As lead auditor of Ambertech Limited for the year ended 30 June 2025, I declare that, to the best of
my knowledge and belief, there have been:
1.
No contraventions of the auditor independence requirements of the Corporations Act 2001 in
relation to the audit; and
2.
No contraventions of any applicable code of professional conduct in relation to the audit.
This declaration is in respect of Ambertech Limited and the entities it controlled during the period.
John Bresolin
Director
BDO Audit Pty Ltd
Sydney
25 August 2025
25
28
Tel: +61 2 9251 4100
Fax: +61 2 9240 9821
www.bdo.com.au
Parkline Place
Level 25, 252 Pitt Street
Sydney NSW 2000
Australia
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050
110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are
members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent
member firms. Liability limited by a scheme approved under Professional Standards Legislation.
INDEPENDENT AUDITOR'S REPORT
To the members of Ambertech Limited
Report on the Audit of the Financial Report
Opinion
We have audited the financial report of Ambertech Limited (the Company) and its subsidiaries (the
Group), which comprises the consolidated statement of financial position as at 30 June 2025, the
consolidated statement of profit or loss and other comprehensive income, the consolidated statement
of changes in equity and the consolidated statement of cash flows for the year then ended, and notes
to the financial report, including material accounting policy information, the consolidated entity
disclosure statement and the directors’ declaration.
In our opinion the accompanying financial report of the Group, is in accordance with the Corporations
Act 2001, including:
(i)
Giving a true and fair view of the Group’s financial position as at 30 June 2025 and of its
financial performance for the year ended on that date; and
(ii)
Complying with Australian Accounting Standards and the Corporations Regulations 2001.
Basis for opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under
those standards are further described in the Auditor’s responsibilities for the audit of the Financial
Report section of our report. We are independent of the Group in accordance with the Corporations
Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s
APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code)
that are relevant to our audit of the financial report in Australia. We have also fulfilled our other
ethical responsibilities in accordance with the Code.
We confirm that the independence declaration required by the Corporations Act 2001, which has been
given to the directors of the Company, would be in the same terms if given to the directors as at the
time of this auditor’s report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.
Key audit matters
Key audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the financial report of the current period. These matters were addressed in the context of
25
29
our audit of the financial report as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.
Revenue recognition
Key audit matter
How the matter was addressed in our audit
As disclosed in Note 3, the Group recognised revenue
of $101,219,000 during the financial year ended 30
June 2025 (2024: $95,456,000).
Due to the overall significance of revenue to the
Group as a key performance indicator, and the
judgement involved in assessing the performance
obligations in respect to project-based revenue, we
considered this area to be a key audit matter.
To determine whether revenue was appropriately
accounted for and disclosed within the financial
statements, we performed, amongst others, the
following audit procedures:
•
Reviewed large open contracts at year end and
ensured revenue had been recognised in line with
AASB 15: Revenue from Contracts with Customers;
•
Substantively tested a sample of revenue
transactions during the year and deferred revenue
balances at year end and ensured they had been
appropriately recognised and aligned with the
goods and services supplied per the terms of the
respective customer orders/agreements;
•
Performed detailed cut-off testing to ensure that
revenue transactions around the year end had been
recorded in the correct period including testing of
post year-end credit notes;
•
Reviewed a sample of customer rebates issued
during the year and agreed these to supporting
documentation; and
•
Reviewed the disclosures in the financial
statements and ensured they were in line with the
requirements of AASB 15: Revenue from Contracts
with Customers.
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30
Valuation of inventory
Key audit matter
How the matter was addressed in our audit
As disclosed in Note 7, the Group held inventory with a
carrying value of $25,420,000 as at 30 June 2025
(2024: $22,663,000) which represented approximately
48% of the Group’s total assets.
Inventory valuation was considered a key audit matter
due to the significant value of these assets in the
Consolidated Statement of Financial Position and the
key estimates and judgements applied by management
in assessing the net realisable value (‘NRV’) of
inventory due to the nature of the industry in which
the Group operates in.
Our audit procedures for addressing this key audit
matter included, but were not limited to, the
following:
•
Reviewed the inventory obsolescence policy
and assessed the assumptions applied by
management in determining the provision for
obsolescence;
•
Observed the cyclical inventory count
procedures performed by management and
assessed, by inspection, whether there was
any evidence of damaged or obsolete
inventory;
•
Tested a sample of inventory items on hand
at year end to ascertain whether these
balances were being recognised at the lower
of cost and net realisable value. This
assessment also included a specific focus on
aged inventory items whereby recent
turnover for these items was also critically
assessed; and
•
Reviewed a sample of items for which there
were no sales in the last year as well as those
sold at the lower of cost.
Other information
The directors are responsible for the other information. The other information comprises the
information in the Group’s annual report for the year ended 30 June 2025, but does not include the
financial report and the auditor’s report thereon.
Our opinion on the financial report does not cover the other information and we do not express any
form of assurance conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial
report or our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this
other information, we are required to report that fact. We have nothing to report in this regard.
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31
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are
required to communicate the matter to the directors and will request that it is corrected. If it is not
corrected, we will seek to have the matter appropriately brought to the attention of users for whom
our report is prepared.
Responsibilities of the directors for the Financial Report
The directors of the Company are responsible for the preparation of:
a)
the financial report that gives a true and fair view in accordance with Australian Accounting
Standards and the Corporations Act 2001 and
b)
the consolidated entity disclosure statement that is true and correct in accordance with the
Corporations Act 2001, and
for such internal control as the directors determine is necessary to enable the preparation of:
i)
the financial report that gives a true and fair view and is free from material misstatement,
whether due to fraud or error; and
ii)
the consolidated entity disclosure statement that is true and correct and is free of misstatement,
whether due to fraud or error.
In preparing the financial report, the directors are responsible for assessing the ability of the group to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the directors either intend to liquidate the Group or to cease
operations, or has no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the Financial Report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with the Australian Auditing Standards will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of this financial report.
A further description of our responsibilities for the audit of the financial report is located at the
Auditing and Assurance Standards Board website (http://www.auasb.gov.au/Home.aspx) at:
https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf
This description forms part of our auditor’s report.
Report on the Remuneration Report
Opinion on the Remuneration Report
We have audited the Remuneration Report included in the directors’ report for the year ended 30 June
2025.
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32
In our opinion, the Remuneration Report of Ambertech Limited, for the year ended 30 June 2025,
complies with section 300A of the Corporations Act 2001.
Responsibilities
The directors of the Company are responsible for the preparation and presentation of the
Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our responsibility
is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with
Australian Auditing Standards.
BDO Audit Pty Ltd
John Bresolin
Director
Sydney 25 August 2025
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33
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
2025
2024
Note
$'000
$'000
Revenues
3
101,219
95,456
Cost of sales
4
(68,864)
(64,043)
Gross Profit
32,355
31,413
Other income
3
752
429
Employee benefits expense
4
(20,941)
(19,548)
Distribution costs
(2,126)
(2,128)
Marketing costs
(1,285)
(1,272)
Premises costs
(927)
(830)
Travel costs
(845)
(904)
Depreciation and amortisation expense
4
(1,400)
(1,525)
Finance costs
4
(1,601)
(1,234)
Other expenses
(2,291)
(2,460)
Restructure costs
(337)
-
Profit before income tax
1,354
1,941
Income tax expense
5
(510)
(579)
Profit after income tax for the year
844
1,362
Other comprehensive income
Exchange differences on translation of foreign operations
44
(36)
Total comprehensive income for the year
888
1,326
Earnings per share
Basic earnings per share (cents)
27
0.9
1.4
Diluted earnings per share (cents)
27
0.9
1.4
The Consolidated Statement of Profit or Loss and Other Comprehensive Income is to be read in conjunction with the attached notes.
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34
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
2025
2024
Note
$'000
$'000
CURRENT ASSETS
Cash and cash equivalents
25
3,527
2,049
Trade and other receivables
6
16,579
16,702
Inventories
7
25,419
22,663
Current tax assets
5
322
390
TOTAL CURRENT ASSETS
45,847
41,804
NON-CURRENT ASSETS
Plant and equipment
9
379
488
Right-of-use assets
10
2,951
4,131
Intangible assets
11
1,906
1,861
Deferred tax assets
5
2,317
2,470
TOTAL NON-CURRENT ASSETS
7,553
8,950
TOTAL ASSETS
53,400
50,754
CURRENT LIABILITIES
Trade and other payables
12
9,927
11,776
Financial liabilities
14
7,754
5,098
Contract Liabilities
13
4,360
1,901
Lease liabilities
15
1,877
1,735
Provisions
16
2,465
2,360
FX Contract Liabilities
133
-
TOTAL CURRENT LIABILITIES
26,516
22,870
NON-CURRENT LIABILITIES
Contract liabilities
13
109
21
Provisions
16
341
375
Lease liabilities
15
3,308
5,198
Deferred tax liabilities
5
22
74
TOTAL NON-CURRENT LIABILITIES
3,780
5,668
TOTAL LIABILITIES
30,296
28,538
NET ASSETS
23,104
22,216
EQUITY
Share capital
17
22,332
22,332
Reserves
18
41
(3)
Retained earnings/(Accumulated losses)
731
(113)
TOTAL EQUITY
23,104
22,216
The above Consolidated Statement of Financial Position is to be read in conjunction with the attached notes.
25
35
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
Share
Capital
Foreign
Currency
Translation
Reserve
Share Based
Payments
Reserve
Retained
earnings/
(Accumulated
losses)
Total
Equity
$'000
$'000
$'000
$'000
$'000
Balance as at 1 July 2023
21,837
(44)
68
599
22,460
Profit for the year
-
-
-
1,362
1,362
Exchange differences on translation of foreign
operations
-
(36)
-
-
(36)
Total comprehensive income for the year
-
(36)
-
1,362
1,326
Transactions with equity holders:
Share issue net of transaction cost
-
-
-
-
-
Shares issued on exercised options
7
-
-
-
7
Other share based transactions
-
-
9
-
9
Dividends declared, paid and reinvested as part
of the Dividend Reinvestment Plan (note 28)
488
-
-
(2,074)
(1,586)
Balance as at 30 June 2024
22,332
(80)
77
(113)
22,216
Balance as at 1 July 2024
22,332
(80)
77
(113)
22,216
Profit for the year
-
-
-
844
844
Exchange differences on translation of foreign
operations
-
44
-
-
44
Total comprehensive income for the year
-
44
-
844
888
Transactions with equity holders:
Shares issued on exercised options
-
-
-
-
-
Other share based transactions
-
-
-
-
-
Dividends declared, paid and reinvested as part
of the Dividend Reinvestment Plan (note 28)
-
-
-
-
-
Balance as at 30 June 2025
22,332
(36)
77
731
23,104
The above Consolidated Statement of Changes in Equity is be read in conjunction with the attached notes.
25
36
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
Note
2025
2024
$'000
$'000
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers
115,449
103,598
Payments to suppliers and employees
(104,356)
(89,413)
Interest received
38
18
Interest and other costs of finance paid
(1,601)
(1,234)
Goods and services tax remitted
(8,543)
(7,204)
Income tax remitted
(341)
(743)
Net cash from operating activities
25
646
5,022
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for plant and equipment
(126)
(260)
Payment for intangible assets
-
-
Payment for the acquisition of businesses, net of cash acquired
-
-
Net cash used in investing activities
(126)
(260)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from borrowings
2,656
-
Net repayment of borrowings
-
(1,226)
Repayment of leases
(1,720)
(1,438)
Proceeds from share issue, net of transaction costs
-
7
Dividends paid to shareholders
28
-
(1,586)
Net cash provided by financing activities
936
(4,243)
Net (increase in cash and cash equivalents held
1,456
519
Cash and cash equivalents at beginning of period
2,049
1,568
Effect of exchange rate changes on cash and cash equivalents held in foreign
currencies at the beginning of the financial year
22
(38)
Cash and cash equivalents at end of period
25
3,527
2,049
The above Consolidated Statement of Cash Flows is to be read in conjunction with the attached notes.
25
37
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1: INTRODUCTION
The consolidated financial statements cover the economic entity consisting of Ambertech Limited and its controlled entities.
Ambertech Limited is a company limited by shares, incorporated and domiciled in Australia.
Operations and principal activities
Ambertech Limited is a distributor of high technology equipment to the professional broadcast, film, recording and sound
reinforcement industries and of consumer audio and video products in Australia and New Zealand.
Currency
The financial statements are presented in Australian dollars, which is the Company’s functional and presentation currency.
All financial information presented in Australian dollars has been rounded to the nearest one thousand, unless otherwise
stated.
Registered office
Unit 1, 2 Daydream Street, Warriewood NSW 2102.
Authorisation of financial statements
The financial statements were authorised for issue on 25 August 2025 by the Directors. The company has the power to amend
the financial statements.
NOTE 2: MATERIAL ACCOUNTING POLICY INFORMATION
(A) Overall Policy
The material accounting policies adopted in the preparation of these consolidated financial statements are set out either
in the respective notes or below. These general purpose financial statements have been prepared in accordance with
Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) and the
Corporations Act 2001, as appropriate for profit oriented entities. The financial statements have been prepared under
the historic cost convention.
Statement of Compliance
The financial statements comply with Australian Accounting Standards which include Australian equivalents to
International Financial Reporting Standards (AIFRS). Compliance with AIFRS ensures that the financial statements and
notes of the economic entity comply with International Financial Reporting Standards (IFRS).
Going Concern
The consolidated financial statements have been prepared on the going concern basis, which contemplates continuity of
normal business activities and the realisation of assets and the discharge of liabilities in the normal course of business.
For the year ended 30 June 2025, the consolidated entity recorded profit after income tax of $844,000 (2024: $1,362,000)
and net operating cash inflows of $645,000 (2024: $5,022,000).
The Directors believe that there are reasonable grounds to conclude that the Group will continue as a going concern, after
consideration of the following factors:
Management have prepared forecasts for the 12 months following date of approval of the financial report,
which indicate that the Group can continue to pay its debts as and when they become due and payable;
25
38
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 2: MATERIAL ACCOUNTING POLICY INFORMATION (continued)
The group continues to have available significant debt headroom on the primary business finance facilities with
limits of up to $6,000,000 in invoice discounting and $8,000,000 in trade finance as disclosed in note 14.
(B) Goods and Services Tax
Revenues, expenses and assets are recognised net of the amount of GST, unless the GST incurred is not recoverable from
the taxation authority. In this case it is recognised as part of the cost of acquisition of the asset or as part of the expense.
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST
recoverable from, or payable to, the taxation authority is included with other receivables or payables in the statement of
financial position.
Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities
which are recoverable from, or payable to the taxation authority, are presented as operating cash flows.
New, revised or amending Accounting Standards and Interpretations adopted
The Consolidated Entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued
by the Australian Accounting Standards Board (‘AASB’) that are mandatory for the current reporting period. There was no
material impact on the financial statements from the adoption of these new accounting standards.
New Accounting Standards and Interpretations not yet mandatory or early adopted
The Consolidated Entity has adopted all of the new or amended Accounting Standards and Interpretations issued by the
Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period.
Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted.
25
39
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 3: REVENUE
Economic Entity
2025
2024
Revenue
$'000
$'000
- Sale of goods
97,658
92,290
- Rendering of services
3,561
3,166
101,219
95,456
Timing of recognition
- Recognised at a point in time
98,213
92,640
- Recognised over time
3,006
2,816
101,219
95,456
Revenue Recognition
Sales revenue comprises revenue earned (net of returns, discounts and allowances) from the provision of goods and services to
entities outside the economic entity. Credit payment terms vary between 30 and 60 days from the invoice issue date.
Revenue from contracts with customers
Revenue is recognised at an amount that reflects the consideration to which the consolidated entity is expected to be entitled
in exchange for transferring goods or services to a customer. For each contract with a customer, the consolidated entity:
identifies the contract with a customer, identifies the performance obligations in the contract; determines the transaction price
which takes into account estimates of variable consideration and the time value of money; allocates the transaction price to
the separate performance obligations on the basis of the relative stand-alone selling price of each distinct good or service to be
delivered; and recognises revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to
the customer of the goods or services promised.
Variable consideration within the transaction price, if any, reflects concessions provided to the customer such as discounts,
rebates and refunds, any potential bonuses receivable from the customer and any other contingent events. Such estimates are
determined using either the ‘expected value’ or ‘most likely amount’ method. The measurement of variable consideration is
subject to a constraining principle whereby revenue will only be recognised to the extent that it is highly probable that a
significant reversal in the amount of cumulative revenue recognised will not occur. The measurement constraint continues
until the uncertainty associated with the variable consideration is subsequently resolved. Amounts received that are subject to
the constraining principle are recognised as a refund liability.
Sale of goods
Revenue from the sale of goods is recognised at a point in time when control transfers to the customer. In most cases this
coincides with the transfer of legal title, or the passing of possession to the customer. In arrangements whereby the
consolidated entity is required to meet contractually agreed upon specifications, control over the goods generally occurs when
the customer has confirmed acceptance.
Rendering of services
Revenue from the rendering of services is recognised at the point in time in which the service is provided to the customer.
Maintenance and support contracts extend for between one and five years. Revenue is respect to these services are generally
recognised overtime as the customer simultaneously receives and consumes the benefits of the services as the Group provides
the services. Where amounts are invoiced before revenue is earned, a deferred revenue liability is brought to account. These
contract liabilities reflect the consideration received in respect of unsatisfied performance obligations.
25
40
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 3: REVENUE (continued)
Economic Entity
2025
$’000
2024
$’000
Interest revenue
Interest revenue is recognised as it accrues using the effective interest method.
Other income
Net Foreign exchange gains
714
410
Interest received
38
19
752
429
NOTE 4: EXPENSES
Additional information on the nature of expenses
A) Inventories
Cost of sales
68,864
64,043
Movement in provision for inventory obsolescence
190
57
B) Employee benefits expense
Salaries and wages
19,148
17,985
Defined contribution superannuation expense
1,793
1,563
20,941
19,548
C) Depreciation
Plant and equipment
136
138
Furniture and fittings
9
6
Leasehold improvements
90
63
Buildings right-of-use assets
1,105
958
Plant and equipment right-of-use assets
54
110
1,394
1,275
D) Amortisation
Customer/Supplier Relationships
-
99
Research and Development
6
151
6
250
E) Bad debts and expected credit losses
158
108
(F) Finance costs
Interest and finance charges paid/payable on borrowings
1,227
791
Interest and finance charges paid/payable on lease liabilities
374
443
1,601
1,234
25
41
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 5: INCOME TAX
Economic Entity
2025
$’000
2024
$’000
A) Major components of income tax
Current year
407
572
Deferred tax
103
7
Income tax expense
510
579
B) Reconciliation between income tax and prima facie tax on accounting profit
Profit before income tax
1,354
1,941
Tax at 30% (2024:30%)
406
582
Tax effect of non deductible expenses/non assessable income
Entertainment
26
15
Other items
39
8
Recognition of movements in deferred tax
-
(25)
Previous tax return adjustments
39
(1)
Income tax expense
510
579
C) Applicable tax rate
The applicable tax rate is the national tax rate in Australia of 30%.
D) Analysis of deferred tax assets
Employee benefits
810
795
Plant and equipment
328
317
Right-of-use assets
(875)
(1,227)
Lease Liability
1,544
2,067
Accrued expenses
88
36
Provision for impairment of receivables
73
41
Provision for obsolescence
156
194
Provision for warranty
29
24
Inventory
164
157
Other
-
66
2,317
2,470
E) Analysis of deferred tax liabilities
Unrealised foreign currency gain
-
34
Plant and equipment
16
33
Other
6
7
22
74
F) Income Tax
The income tax expense or benefit for the period is the tax payable on the current period’s taxable income based on the
applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to
temporary differences and to unused tax losses.
25
42
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 5: INCOME TAX (continued)
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases
of assets and liabilities and their carrying amounts. However, the deferred income tax is not accounted for if it arises from
initial recognition of an asset or liability in a transaction other than a business combination that at the time of the
transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and
laws) that have been enacted or substantially enacted by the reporting date and are expected to apply when the related
deferred income tax asset is realised or the deferred income tax liability is settled.
Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that
future taxable amounts will be available to utilise those temporary differences and losses.
Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and tax
bases of investments in controlled entities where the parent entity is able to control the timing of the reversal of the
temporary differences and it is probable that the differences will not reverse in the foreseeable future.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and
liabilities and when the deferred tax balances relate to the same taxation authority.
Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either
to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Current and deferred tax balances attributable to amounts recognised directly in equity are also recognised directly in
equity.
G) Tax consolidated group
Ambertech Limited and its Australian wholly owned controlled entities have implemented the tax consolidation
legislation. The head entity, Ambertech Limited, and the controlled entities in the tax consolidated group continue to
account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax
consolidated group continues to be a ‘stand-alone taxpayer’ in its own right.
Current tax liabilities/assets and deferred tax assets arising from unused tax losses and tax credits are immediately
transferred to the head entity. The tax consolidated group has entered a tax sharing agreement whereby each company in
the group contributes to the income tax payable by the group in proportion to their contribution to the group’s taxable
income. Differences between the amounts of net tax assets and liabilities derecognised and the net amounts recognised
pursuant to the funding arrangement will be recognised as either a contribution by, or distribution to the head entity.
25
43
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 6: TRADE AND OTHER RECEIVABLES
Economic Entity
2025
2024
Current
$'000
$'000
Trade receivables
13,570
14,851
Allowance for expected credit losses
(244)
(137)
13,326
14,714
Other receivables
1,875
965
Prepayments
1,378
1,023
16,579
16,702
A)
Current trade receivables are non-interest bearing, generally received between 30 and 60 day terms.
Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost using
the effective interest method, less any expected credit loss.
B)
An allowance for expected credit losses (ECLs) is required when a difference arises between the contracted cashflows
and the amount expected to be received, discounted at the original effective interest rate.
For trade receivables, a simplified approach is applied in calculating the ECLs. Loss allowances recognised are based
on lifetime ECLs at each reporting date. This is established from historical credit losses, adjusted for forward looking
factors specific to the receivable.
C)
Movement in the allowance for expected credit losses is as follows:
Current trade receivables
Opening balance
137
44
(Reversal)/charge for the year
117
98
Amounts written off
(10)
(5)
Closing balance
244
137
D)
The economic entity's exposure to credit risk and impairment losses related to trade and other receivables is
disclosed at note 26.
25
44
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 7: INVENTORIES
Economic Entity
2025
2024
Current
$'000
$'000
Finished goods
23,349
19,911
Stock in transit
2,595
3,467
25,944
23,378
Provision for obsolescence
(525)
(715)
25,419
22,663
A)
Inventories
Inventories include finished goods and stock in transit and are measured at the lower of weighted average cost and net
realisable value. Costs are assigned on a first-in first-out basis and include direct materials, direct labour and an
appropriate proportion of variable and fixed overhead expenses.
B)
Provision for impairment of inventories
Movement in the provision for obsolescence is as follows:
Opening balance
715
771
Charge for the year
555
150
Amounts written off
(745)
(206)
Closing balance
525
715
Key Estimate and Judgement: Provision for Obsolescence
The provision for impairment of inventories assessment requires a degree of estimation and judgement. The level of the
provision is assessed by taking into account the recent sales experience, the ageing of inventories and other factors that affect
inventory obsolescence.
NOTE 8: CONTROLLED ENTITIES
Entity
Country of Incorporation
Percentage Owned
2025
2024
Parent Entity
Ambertech Limited
Australia
Subsidiaries of Ambertech Limited
Australia
100%
100%
Amber Technology Limited
Subsidiaries of Amber Technology Limited
Alphan Pty Limited
Australia
100%
100%
Connected Media Australia
Australia
100%
100%
Amber Technology (NZ) Limited
New Zealand
100%
100%
A controlled entity is any entity controlled by Ambertech Limited. Control exists where Ambertech Limited is exposed to, or has
rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to
direct the activities of the entity so that the other entity operates with Ambertech Limited to achieve the objectives of
Ambertech Limited.
All inter-company balances and transactions between entities in the economic entity, including any unrealised profits or losses,
have been eliminated on consolidation.
25
45
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 9: PLANT AND EQUIPMENT
Non-Current
A)
Carrying amounts
Cost
Accumulated
depreciation
Net carrying amount
2025
2024
2025
2024
2025
2024
$'000
$'000
$'000
$'000
$'000
$'000
Economic Entity
Plant and equipment
1,981
1,887
(1,794)
(1,658)
187
229
Furniture and fittings
986
980
(953)
(944)
33
36
Leasehold improvements
1,774
1,748
(1,615)
(1,525)
159
223
Leased plant and equipment
112
112
(112)
(112)
-
-
Total plant and equipment
4,853
4,727
(4,474)
(4,239)
379
488
B)
Reconciliation of carrying amounts
2025
Plant and
equipment
Furniture and
fittings
Leasehold
improvements
Leased plant
and equipment
Total
$'000
$'000
$'000
$'000
$'000
Balance at the beginning of the year
229
36
223
-
488
Additions
94
6
26
-
126
Disposals
-
-
-
-
-
Depreciation and amortisation expense
(136)
(9)
(90)
-
(235)
Carrying amount at the end of the year
187
33
159
-
379
2024
Plant and
equipment
Furniture and
fittings
Leasehold
improvements
Leased plant
and equipment
Total
$'000
$'000
$'000
$'000
$'000
Balance at the beginning of the year
237
21
178
-
436
Additions
131
21
108
-
260
Disposals
(1)
-
-
-
(1)
Depreciation and amortisation expense
(138)
(6)
(63)
-
(207)
Carrying amount at the end of the year
229
36
223
-
488
C)
Recognition and measurement
Plant and equipment is stated at historical cost less depreciation and impairment. Historical cost includes
expenditure that is directly attributable to the acquisition of the items.
D)
Depreciation of property, plant and equipment
Plant and equipment is depreciated over its estimated useful life taking into account estimated residual values. The
straight line method is used.
Plant and equipment is depreciated from the date of acquisition or, in respect of leasehold improvements, from the
time the asset is completed and ready for use.
25
46
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 9: PLANT AND EQUIPMENT (continued)
D). Depreciation of property, plant and equipment (continued)
The depreciation rates used for each class of plant and equipment remain unchanged from the previous year and are as
follows:
Class of Asset
Useful life
Plant and equipment
3-8 years
Furniture and fittings
3-8 years
Leasehold improvements
Term of the lease
Leased plant and equipment
Term of the lease
The carrying values of plant and equipment are reviewed for impairment when events or changes in circumstances indicate the
carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated
recoverable amount, the plant and equipment or cash generating units to which the plant and equipment belong are written
down to their recoverable amount.
NOTE 10: RIGHT-OF-USE ASSETS
Economic Entity
2025
2024
Non-Current
$’000
$’000
Land and buildings – right-of-use
8,090
8,080
Less: Accumulated amortisation
(5,332)
(4,227)
2,758
3,853
Plant and equipment - right-of-use
426
457
Less: Accumulated amortisation
(233)
(179)
193
278
2,951
4,131
Land and
buildings
Plant and
equipment
Total
$'000
$'000
$'000
Balance at 30 June 2024
3,853
278
4,131
Additions
10
-
10
Disposals
-
(31)
(31)
Amortisation
(1,105)
(54)
(1,159)
Balance at 30 June 2025
2,758
193
2,951
25
47
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 10: RIGHT-OF-USE ASSETS (continued)
Land and buildings – right-of-use
The land and buildings right of use assets relate to property leases for premises as follows:
-
Daydream Street, Warriewood NSW. The lease has a lease term of 5 years commencing 14 January 2023 with
rent payable monthly. An option exists to renew the lease at the end of this time for an additional term of 5
years with a final expiry date being 13 January 2033. The lease has rent increases of at least 3.0% (capped at
4.5%) each year.
-
Porana Road, Wairau Valley, Auckland. The lease has a term of 5 years commencing 8 January 2024 with rent
payable monthly. An option exists to renew the lease at the end of this time for an additional term of 5 years
with a final expiry date being 7 January 2034. The lease has fixed rent increases of 3.5% each year.
A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which
comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the
commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the
cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and
restoring the site or asset.
Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of
the asset, whichever is the shorter. Where the consolidated entity expects to obtain ownership of the leased asset at the end
of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for
any remeasurement of lease liabilities.
The consolidated entity has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases
with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss
as incurred.
Key Estimate and Judgement: Lease term
The lease term is a significant component in the measurement of both the right-of-use asset and lease liability. Judgement is
exercised in determining whether there is reasonable certainty that an option to extend the lease or purchase the underlying
asset will be exercised, or an option to terminate the lease will not be exercised, when ascertaining the periods to be included
in the lease term. In determining the lease term, all facts and circumstances that create an economical incentive to exercise an
extension option, or not to exercise a termination option, are considered at the lease commencement date. The primary
judgment in respect of the Group is in relation to likelihood of exercising any variable option periods.
Factors considered may include the importance of the asset to the Groups operations; comparison of terms and conditions to
prevailing market rates; incurrence of significant penalties; existence of significant leasehold improvements; and the costs and
disruption to replace the asset. The Group reassesses whether it is reasonably certain to exercise an extension option, or not
exercise a termination option, if there is a significant event or significant change in circumstances.
25
48
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 11: INTANGIBLE ASSETS
Economic Entity
2025
2024
Non-Current
$'000
$'000
Net carrying amounts and movements during the year
Goodwill at cost
4,722
4,722
Less impairment
(2,970)
(2,970)
1,752
1,752
Website at cost
94
94
Less accumulated amortization
(94)
(94)
-
-
Brand name
100
100
Less impairment
-
-
100
100
Customer/Supplier relationships
105
105
Less accumulated amortisation
(105)
(105)
-
-
Research & Development
435
384
Less accumulated amortisation
(381)
(375)
54
9
1,906
1,861
Reconciliation of written down values:
Goodwill
Website
Brand
name
Customer/Supplier
relationships
Research &
Development
Total
$'000
$'000
$'000
$'000
$'000
$'000
Opening balance at 1 July 2024
1,752
-
100
-
9
1,861
Additions
-
-
-
-
51
51
Provisional accounting adjustments
-
-
-
-
-
-
Amortisation expense (note 4)
-
-
-
-
(6)
(6)
Closing balance at 30 June 2025
1,752
-
100
-
54
1,906
Recognition and measurement
A)
Goodwill
All business combinations are accounted for by applying the acquisition method. Goodwill represents the difference between
the cost of the acquisition and the fair value of the net identifiable assets acquired.
Goodwill is stated at cost less any accumulated impairment. Goodwill is allocated to cash generating units and is not subject to
amortisation but tested annually for impairment. Where the recoverable amount of the cash generating unit is less than the
carrying amount, an impairment loss is recognised.
25
49
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 11: INTANGIBLE ASSETS (continued)
B)
Impairment of Assets
Goodwill and intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually
for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other
assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not
be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its
recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use.
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately
identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-
generating units).
Goodwill acquired through business combinations have been allocated to the following cash-generating units:
2025
$’000
2024
$’000
Integrated Solutions
1,589
1,589
Professional
163
163
1,752
1,752
The consolidated entity determined the recoverable amount of assets based on a value-in-use calculation, using cash flow
projections based on financial budgets approved by management covering a five-year period. The following assumptions
have been applied by management in the 30 June 2025 calculation of value-in-use for the Integrated Solutions cash-
generating unit based on past performance and expectations for the future:
Annual sales growth of between 2% to 14% over the three-year forecast period
Terminal value factor of 1.73
Pre-tax discount rate of 16.6%
Post-tax discount rate of 11.6%
Management has estimated the revenue and EBIT growth based on a detailed strategic plan for the economic entity, including
go to market strategies and expected economies of scale expected to positively impact EBIT over the period.
The post tax discount rate of 11.6% reflects management’s estimate of the time value of money and the consolidated entity’s
weighted average cost of capital adjusted for the Integrated Solutions cash-generating unit, the risk free rate and the volatility
of the share price relative to the market movements.
Sensitivity
The directors have made judgements and estimates in respect of impairment testing of goodwill. Should these judgements and
estimates not occur the resulting goodwill carrying amount may decrease. Management have performed sensitivity analysis
and assessed reasonable changes for key assumptions and have not identified any instances that could cause the carrying
amount of the consolidated entity’s assets to exceed its recoverable amount.
If there is evidence of impairment for any of the company’s assets, the loss is measured as the difference between the asset’s
carrying amount and the recoverable amount. The loss is recognised in the statement of profit or loss and other
comprehensive income.
C)
Website Costs
Significant costs associated with website costs are deferred and amortised on a straight-line basis over the period of their
expected benefit, being a finite life of 5 years.
25
50
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 11: INTANGIBLE ASSETS (continued)
D)
Customer/Supplier Relationships
Significant costs associated with customer/supplier costs on acquisition are deferred and amortised on a straight-line basis over
the period of their expected benefit, being a finite life of 5 years.
E)
Brand Names
Brand names have an indefinite useful life and are not subject to amortisation but are tested annually for impairment, or more
frequently if events or changes in circumstances indicate that they might be impaired.
F)
Research & Development
Research costs are expensed in the period in which they are incurred. Development costs are capitalised when it is probable
that the project will be a success considering its commercial and technical feasibility; the consolidated entity is able to use or
sell the asset; the consolidated entity has sufficient resources and the intent to complete the development; and its costs can be
measured reliably.
NOTE 12: TRADE AND OTHER PAYABLES
Economic Entity
2025
2024
$'000
$'000
Current
Trade accounts payable
7,216
9,330
Other accounts payable
2,711
2,446
9.927
11,776
These amounts represent liabilities for goods and services provided to the economic entity prior to the end of financial year
which are unpaid. Due to their short- term nature, they are measured at amortised cost and are not discounted. The amounts
are unsecured and are usually paid within 30 days of recognition.
Amounts payable in foreign currencies:
Trade accounts payable:
-
US Dollars
2,927
3,373
-
British Pounds
36
76
-
Euro
305
181
3,268
3,630
NOTE 13: CONTRACT LIABILITIES
Current
Deferred Revenue
4,360
1,901
Non Current
Deferred Revenue
109
21
4,469
1,922
Reconciliation of movement in contract liabilities
$’000
Opening balance at 1 July 2024
1,922
Less: recognised as revenue during the year where performance obligations met
(1,922)
Add: remaining deferred component of new sales contracts entered into during the year
4,469
4,469
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 14: FINANCIAL LIABILITIES
2025
2024
$'000
$'000
Current
Debtor finance
3,362
4,787
Business transaction facility
4,392
311
7,754
5,098
Details of the economic entity's exposure to interest rate changes on financial liabilities is outlined in note 26.
The fair value of the financial liabilities approximates their carrying value.
A)
Debtor finance
On 14 August 2025, the economic entity entered into an agreement with Octet finance Pty Ltd in relation to extending the
invoice discounting solution for a further 12 months. The facility has approval of a limit of up to $6,000,000 (2024:
$12,000,000).
The economic entity did not breach any covenants during the financial year.
B)
Business transaction facility
On 14 August 2025, the economic entity entered into an agreement with Octet Finance Pty Ltd in relation to extending
the Business Transaction Facility for a further 12 months. The facility has approval of a limit up to $8,000,000 (2024:
$2,000,000). As at 30 June 2025, the amount drawn under this facility was $4,391,481 (2024: $310,936). Additionally,
there is a Scottish Pacific Business Finance facility held in New Zealand with no fixed term and a limit of $928 678. As at 30
June 2025 the amount drawn under this facility was nil (2024: $Nil).
C)
Borrowings
Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are subsequently measured
at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
recognised in the statement of profit or loss and other comprehensive income over the period of the borrowings using the
effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan
to the extent that it is probable that some or all of the facility will be drawn down.
In this case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable that
some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised
over the period of the facility to which it relates.
Borrowing costs directly attributable to the acquisition, construction or production of assets that necessarily take a
substantial period of time to prepare for their intended use or sale, are added to the cost of those assets, until such time
as the assets are substantially ready for their intended use or sale. Other borrowing costs are expensed.
NOTE 15: LEASE LIABILITIES
Economic Entity
2025
2024
$'000
$'000
Current
Lease liabilities
1,877
1,735
Non Current
Lease liabilities
3,308
5,198
A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value
of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that
rate cannot be readily determined, the consolidated entity's incremental borrowing rate. Lease payments comprise of fixed
payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to
be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably
certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a
rate are expensed in the period in which they are incurred.
25
52
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 15: LEASE LIABILITIES continued
Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if
there is a change in the following: future lease payments arising from a change in an index, or a rate used; residual guarantee;
lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is
made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written
down.
Key Estimate and Judgement: Incremental borrowing rate
Where the interest rate implicit in a lease cannot be readily determined, an incremental borrowing rate is estimated to
discount future lease payments to measure the present value of the lease liability at the lease commencement date. Such a
rate is based on what the Group estimates it would have to pay a third party to borrow the funds necessary to obtain an asset
of a similar value to the right-of-use asset, with similar terms, security and economic environment.
NOTE 16: PROVISIONS
2025
2024
$'000
$'000
Current
Service warranty
102
82
Employee benefits
2,363
2,278
2,465
2,360
Non Current
Employee benefits
341
375
341
375
A)
Service warranty
Provision is made for the estimated warranty claims in respect of products sold which are still under warranty at balance date.
These claims are expected to be settled in the next financial year. Management estimates the provision based on historical
warranty claim information and any recent trends that may suggest future claims could differ from historical amounts.
In determining the level of provision required for warranties, the economic entity has made judgements in respect of the
expected performance of the product, expected customer claims and costs of fulfilling the conditions of warranty. The
provision is based on estimates made from historical warranty costs associated with similar products.
Movements in provisions, other than employee benefits are set out below:
Service warranty
$'000
Opening balance at 1 July 2024
82
Increase due to Increased warranty requirements
44
Reductions resulting from payments
(24)
Closing balance at 30 June 2025
102
B)
Employee benefits
Short term employee benefits are employee benefits (other than termination benefits and equity compensation benefits)
which fall due wholly within 12 months after the end of the period in which employee services are rendered. They comprise
wages, salaries, commissions, social security obligations, short-term compensation absences and bonuses payable within 12
months and non-mandatory benefits such as car allowances.
The undiscounted amount of short-term employee benefits expected to be paid is recognised as an expense.
Other long-term employee benefits include long-service leave payable 12 months or more after the end of the financial year.
The liability for long service leave is recognised and measured at the present value of the estimated future cash flows to be
made in respect of all employees at the reporting date. In determining the present value of the liability, estimates of attrition
rates and pay increases through promotion and inflation have been taken into account.
25
53
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 16: PROVISIONS (continued)
C)
Amounts not expected to be settled within the next twelve months:
The current provisions for annual leave and long service leave include all unconditional entitlements where employees have
completed the required period of service. The entire amount is presented as current, since the economic entity does not have
an unconditional right to defer settlement. However, based on past experience, the economic entity does not expect all
employees to take the full amount of accrued leave or require payment within the next twelve months.
The following amounts reflect leave that is not expected to be taken within the next twelve months:
Economic Entity
2025
2024
$'000
$'000
Current annual leave obligation expected to be settled after 12 months
547
265
Current long service leave obligation expected to be settled after 12 months
640
718
NOTE 17: SHARE CAPITAL
Economic Entity
Economic Entity
2025
2024
2025
2024
Shares
Shares
$'000
$'000
A). Ordinary Shares fully paid (no par value)
95,404,783
95,404,783
22,332
22,332
B). Voting Rights
On a show of hands, one vote for every registered shareholder, and for a poll, one vote for every share held by a registered
shareholder.
C). Options
At reporting date, there were 2,825,000 ordinary shares reserved for issue under the Employee Share Option Plan (2024:
4,025,000).
D). Dividends
Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of
the entity, on or before the end of the year but not distributed at balance date.
25
54
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 18: RESERVES
Economic Entity
2025
2024
$’000
$’000
Foreign currency translation reserve
(36)
(80)
Share base payments reserve
77
77
41
(3)
For an explanation of movements in reserve accounts refer to the Statement of Changes in Equity.
Nature and purpose of reserves
Foreign currency translation reserve
The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on consolidation, are
translated to Australian dollars at exchange rates prevailing at the balance sheet date. The revenues and expenses of
foreign operations are translated to Australian dollars at rates approximating to the exchange rates prevailing at the dates
of the transactions.
Exchange differences arising on translation of the foreign controlled entity are taken to the foreign currency translation
reserve. The reserve is recognised in profit and loss when the net investment is disposed of.
Share Base Payments Reserve
The share based payments reserve is used to recognise the fair value of options issued but not exercised.
NOTE 19: CAPITAL
Capital Commitments
The economic entity had no commitments for capital expenditure as at 30 June 2025 (2024: Nil).
NOTE 20: CONTINGENT LIABILITIES
Economic Entity
2025
2024
$'000
$'000
Estimates of the maximum amounts of contingent liabilities that may become payable:
- Bank guarantee by Amber Technology Limited in respect of Sydney property lease
722
722
- Sydney Opera House
-
69
722
791
No material losses are anticipated in respect of any of the above contingent liabilities.
NOTE 21: EVENTS SUBSEQUENT TO REPORTING DATE
On 14 August 2025, the economic entity entered into an agreement with Octet Finance Pty Ltd in relation to extending its
finance facilities for a further 12 months. The facilities include an invoice discounting facility with approval for up to $6,000,000
and a business transaction facility with a limit of $8,000,000.
On 21 August 2025, the Board resolved to pay a dividend of 0.6 cents per share, franked to 100%, in respect of the period
ended 30 June 2025. The record date is 26 September 2025, with a payment date of 17 October 2025. The Dividend
Reinvestment Plan will not be in effect for this dividend.
Other than the above, there were no matters that have arisen since the end of the financial year that have significantly affected
or may significantly affect the operations or state of affairs of the economic entity in future financial years.
25
55
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 22: RELATED PARTY TRANSACTIONS
Key management personnel compensation
Key management personnel comprises directors and other persons having authority and responsibility for planning, directing
and controlling the activities of the economic entity.
Economic
Entity
2025
2024
Summary
$
$
-
Short term employee benefits
1,676,646
1,389,267
-
Post-employment benefits
171,341
141,843
-
Long term employee benefits
(31,618)
30,644
-
Share-based employee benefits
-
20,335
1,816,369
1,582,089
Key Management Personnel transactions
The following transactions occurred with related parties:
-
Sale of goods to Wes Components Pty Ltd (director-related entity of Santo Carlini)
348,414
348,523
The following balances are outstanding at the reporting date in relation to transactions
with related parties:
-
Sale of goods to Wes Components Pty Ltd (director-related entity of Santo Carlini)
50,127
28,975
NOTE 23: SHARE BASED PAYMENT ARRANGEMENTS
On 18 December 2020, 2,100,000 share options were granted under the Ambertech Limited Executive Share Option Scheme to
take up ordinary shares at an exercise price of $0.22 each. The options are exercisable on or before 18 December 2025. The
options hold no voting or dividend rights and are not transferable.
These options vest as follows:
I.
Three quarters of the options have vested (tranche 1, tranche 2 and tranche 3) and
II.
One quarter of the options vest on 30 September 2024.
On 18 October 2023, 3,000,000 share options were granted under the Ambertech Limited Executive Share Option Scheme to
take up ordinary shares at an exercise price of $0.267 each. 750,000 of these were granted to the Managing Director and
received ratification at the Ambertech Limited AGM held on 23 November 2023. The options are exercisable on or before 17
October 2028. The options hold no voting or dividend rights and are not transferable.
These options vest as follows:
I.
One quarter of the options have vested (tranche 1),
II.
One quarter of the options vest on 30 September 2024,
III.
One quarter of the options vest on 30 September 2025, and
IV.
One quarter of the options vest on 30 September 2026.
Vesting subsequent to grant date is also subject to Key Management Personnel (KMP) meeting specified performance criteria.
Further details of these options are provided in the directors’ report. The options hold no voting or dividend rights but have
been listed. The options lapse when a KMP ceases their employment with the Group.
During the financial year no options vested as specified performance criteria were not achieved (2024: 750,000), and therefore
no expense has been recognised.
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 23: SHARE BASED PAYMENT ARRANGEMENTS (continued)
The consolidated entity established the Ambertech Limited Employee Share Option Plan on 5 November 2004 as a long-term
incentive scheme to strive for improved group performance. The options are issued for no consideration and carry no
entitlements to voting rights or dividends of the Group. The number available to be granted is determined by the Board and is
based on performance measures including profitability, return on capital employed and dividends.
The options were issued with a strike price representing a premium of 20% (for 2023 grant date) and a discount of 6% (2020
grant date) to the volume weighted average market price of the underlying shares determined at the time the shares were
granted.
A summary of the movements of all options issued is as follows:
Number
Weighted
Average Exercise
Price
Options outstanding as at 1 July 2024
4,025,000
$0.255
Lapsed (performance criteria not met)
(450,000)
$0.220
Lapsed (performance criteria not met)
(750,000)
$0.267
Options outstanding as at 30 June 2025
2,825,000
$0.257
Options exercisable as at 30 June 2025
1,325,000
$0.245
Options exercisable as at 30 June 2024
1,325,000
$0.245
The weighted average remaining contractual life of options outstanding at year-end was 3.59 years. The weighted average
exercise price of outstanding options at the end of the reporting period was $0.245}.
The fair value of the options granted to key management personnel is considered to represent the value of the employee
services received over the vesting period.
Options issued over ordinary shares are valued using the Black-Scholes pricing model which takes into account the option
exercise price, the current level and volatility of the underlying share price, the risk-free interest rate, the expected dividends
on the underlying share, the current market price of the underlying share and the expected life of the option.
The value of the options is recognised in an option reserve until the options are exercised, forfeited, or expire.
The share price at grant date is considered when determining the value of the options granted. Historical share price volatility
has been the basis for determining expected share price volatility as it is assumed that this is indicative of future volatility.
The life of the options is based on the historical exercise patterns, which may not eventuate in the future.
These shares were issued as compensation to key management personnel and other executives of the Group. Further details
relating to key management personnel are provided in the directors’ report.
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 24: SEGMENT REPORTING
(a)
Description of segments
Management has determined the operating segments based on the internal reports that are reviewed and used by the
Board of Directors in assessing performance and determining the allocation of resources.
The economic entity comprises the following operating segments:
Retail
Distribution of home entertainment solutions to dealers.
Integrated Solutions
Distribution and supply of custom installation components for home theatre and
commercial installations to dealers and consumers, and the distribution of projection and
display products with business and domestic applications.
Professional
Distribution of high technology equipment to professional broadcast, film, recording and
sound reinforcement industries.
(b) Segment information
2025
Retail
Integrated
Solutions
Professional
Eliminations
Economic
Entity
$'000
$'000
$'000
$'000
$'000
Revenue
-
Total segment revenue
16,446
49,475
35,298
-
101,219
-
Inter-segment revenue
-
-
-
-
-
Revenue from external customers
16,446
49,475
35,298
-
101,219
Result
-
Segment Contribution
2,027
2,568
833
5,428
-
Unallocated / corporate result
(1,074)
-
EBITDA
4,354
-
Depreciation and amortisation
(1,399)
-
EBIT
2,955
-
Interest and finance costs
(1,601)
-
Profit before income tax
1,354
-
Income tax expense
(510)
-
Profit for the year
844
Assets
-
Segment Assets
10,612
21,846
14,367
-
46,825
-
Unallocated/corporate assets
6,576
-
Total assets
53,401
Liabilities
-
Segment liabilities
3,319
7,934
9,937
-
21,190
-
Unallocated/corporate liabilities
9,106
-
Total liabilities
30,296
Other
-
Acquisition of non current segment assets
19
62
44
-
125
125
25
58
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 24: SEGMENT REPORTING (continued)
2024
Retail
Integrated
Solutions
Professional
Eliminations
Economic
Entity
$'000
$'000
$'000
$'000
$'000
Revenue
-
Total segment revenue
12,930
47,306
35,220
-
95,456
-
Inter-segment revenue
-
-
-
-
-
Revenue from external customers
12,930
47,306
35,220
-
95,456
Result
-
Segment Contribution
520
2,796
2,908
6,224
-
Unallocated / corporate result
(1,524)
-
EBITDA
4,700
-
Depreciation and amortisation
(1,525)
-
EBIT
3,175
-
Interest and finance costs
(1,234)
-
Profit before income tax
1,941
-
Income tax expense
(579)
-
Profit for the year
1,362
Assets
-
Segment Assets
9,336
20,996
13,732
-
44,064
-
Unallocated/corporate assets
6,690
-
Total assets
50,754
Liabilities
-
Segment liabilities
2,825
9,970
6,594
-
19,389
-
Unallocated/corporate liabilities
9,149
-
Total liabilities
28,538
Other
-
Acquisition of non current segment assets
64
107
89
-
260
260
25
59
AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 24: SEGMENT REPORTING (continued)
(c)
Segment information on geographical region
Segment Revenues from
Sales to External
Customers
Carrying Amount of
Segment Non-Current
Assets
Acquisition of Non-
Current Assets
2025
2024
2025
2024
2025
2024
$'000
$'000
$'000
$'000
$'000
$'000
Geographical Location
-
Australia
94,992
90,370
4,329
5,636
121
126
-
New Zealand
6,227
5,086
649
844
4
134
101,219
95,456
4,978
6,480
125
260
Carrying amount of segment non-current assets
These amounts include all non-current assets other than deferred tax assets located in the country of domicile.
(d) Other segment information
Accounting Policies
Segment revenues and expenses are those directly attributable to the segments and include any joint revenues and expenses
where a reasonable basis of allocation exists. Segment assets include all assets used by a segment and consist principally of
cash, receivables, inventories and property, plant and equipment and goodwill. All remaining assets of the economic entity are
considered to be unallocated assets. Segment liabilities consist principally of accounts payable, employee entitlements, accrued
expenses, provisions and borrowings.
Segment assets and liabilities do not include income taxes.
Intersegment Transfers
Segment revenues, expenses and result include transfers between segments. The prices charged on intersegment transactions
are the same as those charged for similar goods to parties outside of the economic entity. These transfers are eliminated on
consolidation.
Major Customers
During the year ended 30 June 2025 $8,673,871 or 8.20% (2024: $7,635,943 or 7.66%) of the consolidated entity's external
revenue was derived from sales to a major Australian retailer through the Major Retail segment.
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 25: CASH FLOW INFORMATION
Economic Entity
2025
2024
$'000
$'000
(i). Cash and cash equivalents
Cash and cash equivalents included in the statement of cash flows comprise the
following amounts:
Cash on hand
1
1
At call deposits with financial institutions
3,526
2,048
Total cash and cash equivalents
3,527
2,049
(ii) Reconciliation of net cash provided by operating activities to profit after income
tax
Profit for the year
844
1,362
Adjustments for:
Depreciation and amortization
1,400
1,525
Foreign exchange loss/(gain)
-
-
Net loss on sale of plant and equipment
-
-
Non-cash share based payments
-
9
Changes in operating assets and liabilities (net of business combinations):
(Increase)/decrease in trade and other receivables
478
639
(Increase)/decrease in prepayments
(355)
719
(Increase)/decrease in inventories
(2,756)
407
Increase/(decrease) in trade and other payables
(1,881)
2,896
Increase/(decrease) contract liabilities
2,544
(2,398)
(Decrease)/Increase in provisions
70
26
(Decrease) in income taxes payable
68
(144)
Decrease in deferred taxes
101
(19)
Increase in FX Contract liabilities
133
-
Net cash provided by operating activities
646
5,022
(A) Cash and Cash Equivalents
For the purposes of the statement of cash flows, cash and cash equivalents includes cash on hand, deposits at call with banks
or financial institutions, investments in money market instruments maturing within three months, and bank overdrafts.
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 26: FINANCIAL RISK MANAGEMENT
The economic entity's financial risk management policies are established to identify and analyse the risks faced by the business,
to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems
are reviewed regularly to reflect changes in market conditions and the economic entity's activities.
The economic entity's activities expose it to a wide variety of financial risks, including the following:
-
credit risk
-
liquidity risk
-
market risk (including foreign currency risk and interest rate risk)
This note presents information about the economic entity's exposure to each of the above risks, the objectives, policies and
processes for measuring and managing risk and how the economic entity manages capital.
Liquidity and market risk management is carried out by a central treasury function (Group Treasury) in accordance with risk
management policies. The Board has overall responsibility for the establishment and oversight of the risk management
framework. The Board, through the Audit and Risk Management Committee, oversees how management monitors
compliance with the risk management policies and procedures and reviews the adequacy of the risk management framework
in relation to risks.
The economic entity uses derivative financial instruments such as foreign exchange contracts to hedge certain risk exposures.
Derivatives are used exclusively for hedging purposes. The economic entity does not enter into or trade financial instruments,
including derivative financial instruments, for speculative purposes.
A). Credit Risk
Credit risk is the risk of financial loss to the economic entity if a customer or the counterparty to a financial instrument fails to
meet its contractual obligations and arises principally from the economic entity's receivables from customers. The maximum
exposure to credit risk is the carrying amount of the financial assets.
Trade and other receivables
Exposure to credit risk is influenced mainly by the individual characteristics of each customer. The customer base consists of a
wide variety of customer profiles. New customers are analysed individually for creditworthiness, considering credit ratings
where available, financial position, past experience and other factors. This includes major contracts and tenders approved by
executive management. Customers that do not meet the credit policy guidelines may only purchase using cash or recognised
credit cards. The general terms of trade for the economic entity are between 30 and 60 days.
In monitoring credit risk, customers are grouped by their debtor ageing profile. Monitoring of receivable balances on an
ongoing basis minimises the exposure to bad debts.
Expected credit loss allowance
The expected credit loss allowance relates to specific customers, identified as being in trading difficulties, or where specific
debts are in dispute. The expected credit loss allowance does not include debts past due relating to customers with a good
credit history, or where payments of amounts due under a contract for such customers are delayed due to works in dispute
and previous experience indicates that the amount will be paid in due course.
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 26: FINANCIAL RISK MANAGEMENT (continued)
The ageing of trade receivables at the reporting date was:
Economic Entity
2025
2024
$'000
$'000
Not past due
8,248
10,724
Past due up to 30 days
4,193
2,974
Past due 31-60 days
383
602
Past due 61 days and over
502
414
Total trade receivables not impaired
13,326
14,714
Trade receivables impaired
244
137
Total trade receivables
13,570
14,851
The economic entity does not have other receivables which are past due (2024: Nil).
B). Liquidity Risk
Liquidity risk is the risk that the economic entity will not be able to meet its financial obligations as they fall due. The economic
entity's policy for managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity (cash reserves and
finance facilities) to meet its liabilities when due, under both normal and stressed conditions. The objective of the policy is to
maintain a balance between continuity of funding and flexibility through the use of finance facilities.
The economic entity monitors liquidity risk by maintaining adequate cash reserves and financing facilities and by continuously
monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. The table below
summarises the maturity profile of the economic entity's financial liabilities based on contractual undiscounted payments:
Contractual Cash Flows
2025
Within
1 Year
1 to 5
Years
Over 5
Years
Total
$'000
$'000
$'000
$'000
Financial liabilities due for payment
Trade payable
7,216
-
-
7,216
Other accounts payable
2,711
-
-
2,711
Financial liabilities
7,754
-
-
7,754
Lease liability
1,877
3,308
-
5,185
Total expected outflows
19,558
3,308
-
22,866
Financial assets - cash flows realisable
Trade receivables
13,570
-
-
13,570
Total anticipated inflows
13,570
-
-
13,570
Net inflow / (outflow) on financial instruments
(5,988)
(3,308)
-
(9,296)
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 26: FINANCIAL RISK MANAGEMENT (continued)
Contractual Cash Flows
2024
Within
1 Year
1 to 5
Years
Over 5
Years
Total
$'000
$'000
$'000
$'000
Financial liabilities due for payment
Trade payables
9,330
-
-
9,330
Other accounts payable
2,446
-
-
2,446
Financial liabilities
5,098
-
-
5,098
Lease liability
1,735
5,198
-
6,933
Total expected outflows
18,609
5,198
-
23,807
Financial assets - cash flows realisable
Trade receivables
14,851
-
-
14,851
Total anticipated inflows
14,851
-
-
14,851
Net inflow / (outflow) on financial instruments
(3,758)
(5,198)
-
(8,956)
The carrying amounts of cash and cash equivalents, trade and other receivables and trade and other payables are assumed to
approximate their fair values due to their short term nature.
The fair value of debtor finance and lease liabilities is estimated by discounting the remaining contractual maturities at the
current market interest rate that is available for similar financial liabilities.
C). Market Risk
Market risk is the risk that changes in market prices will affect the economic entity's income or the value of its holdings of
financial instruments. The activities of the economic entity expose it primarily to the financial risks of changes in foreign
currency rates and interest rates. The objective of market risk management is to manage and control market risk exposures
within acceptable parameters, whilst optimising the returns.
Foreign Currency Risk
The following table demonstrates the impact on the profit and equity of the economic entity, if the Australian Dollar
weakened/strengthened by 10%, which management consider to be reasonably possible at balance date against the respective
foreign currencies, with all other variables remaining constant:
Weakening of 10%
Strengthening of 10%
2025
2024
2025
2024
$'000
$'000
$'000
$'000
Impact on profit
(9)
(19)
568
732
Impact on equity
(9)
(19)
568
732
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 26: FINANCIAL RISK MANAGEMENT (continued)
Interest Rate Risk
The economic entity has a debtor financing facility. The use of the facility exposes the economic entity to cash flow interest
rate risk.
As at the reporting date, the economic entity had the following fixed and variable rate borrowings:
Note
Weighted average interest rate
Balance
2025
2024
2025
2024
%
%
$'000
$'000
Debtor finance
14
5.80%
5.80%
3,367
4,787
Business transaction facility
14
5.80%
5.80%
4,391
311
Financial liabilities
5.80%
5.80%
7,754
5,098
The following table demonstrates the impact on the profit and equity of the economic entity if the average interest rate on the
borrowing facility had either increased or decreased by 1%, which management consider to be reasonably possible over the
whole year ending 30 June 2025, with all other variables remaining constant:
Increase of 1% of average
interest rate
Decrease of 1% of average
interest rate
2025
2024
2025
2024
$'000
$'000
$'000
$'000
Impact on profit
(212)
(137)
212
137
Impact on equity
(212)
(137)
212
137
D) Fair Values
The fair values of assets and liabilities approximate their carrying values. No financial assets or liabilities are readily traded on
organised markets.
E) Capital Management
The Board's aim is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The Board seeks to maintain a balance between the higher returns that might be possible
with higher levels of borrowings and the advantages and security afforded by a sound capital position.
Total capital is defined as shareholders' equity. The Board monitors the return on capital, which is defined as net operating
income divided by total shareholders' equity. The Board also establishes a dividend payout policy which is targeted as being
greater than 50% of earnings, subject to a number of factors, including the capital expenditure requirements and the
company's financial and taxation position. Dividends paid or reinvested as part of the Dividend Reinvestment Plan during the
year ended 30 June 2025 were Nil (2024: $2,074,000).
There were no changes to the economic entity's approach to capital management during the financial year.
25
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 27: EARNINGS PER SHARE
Economic Entity
2025
2024
$'000
$'000
A)
Basic earnings per share (cents)
0.9
1.4
Weighted average number of ordinary shares (number)
95,404,783
94,646,456
Earnings used to calculate basic earnings per share ($)
844,000
1,362,000
Basic earnings per share is calculated by dividing the profit attributable to equity holders of the company, excluding any costs
of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the year,
adjusted for bonus elements in ordinary shares issued during the year.
B)
Diluted earnings per share (cents)
0.9
1.4
Weighted average number of ordinary shares (number)
96,729,783
96,036,620
Earnings used to calculate diluted earnings per share ($)
844,000
1,362,000
Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the
after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted
average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.
NOTE 28: DIVIDEND
Economic Entity
2025
2024
$'000
$'000
Final Dividends
Final dividend for the year ended:
-
30 June 2023, 1.0 cents per share, fully franked paid on 17 October 2023
-
932
Paid in Cash
-
494
Reinvested as part of the Dividend Reinvestment Plan
-
438
Interim Dividends
Interim dividend for the year ended:
-
30 June 2024, 1.2 cents per share, fully franked, paid on 5 April 2024
-
1,142
Paid in Cash
-
1,092
Reinvested as part of the Dividend Reinvestment Plan
-
50
Total Dividends
-
2,074
Franking credits available for subsequent financial years at the 30% corporate tax rate after
allowing for tax payable in respect of current year's profit and tax rules
7,351
6,654
Dividends not recognised at year end
Since year end, the Directors have declared a fully franked final dividend of 0.6 cents per share.
The total amount of the dividend expected to be paid on the 17 October 2025 out of retained
profits, but not recognised as a liability at year end;
572
-
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 29: AUDITORS' REMUNERATION
The disclosures include amounts received or due and receivable by BDO Audit Pty Ltd and their respective related entities.
Audit services
2025
2024
$
$
BDO Audit Pty Ltd
Audit and review of financial reports under the Corporations Act 2001.
160,440
150,555
Total remuneration for audit services
160,440
150,555
Non-audit services
BDO Services Pty Ltd
Tax compliance services, including review of company income tax returns
57,711
18,400
Other practices - BDO Auckland
Tax compliance services, including review of company income tax returns
5,931
6,993
Total remuneration for non-audit services
63,642
25,393
It is the economic entity's policy to employ BDO on assignments additional to their statutory audit duties where BDO's
expertise and experience with the economic entity are important. These assignments are principally tax compliance
assignments.
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTE 30: PARENT ENTITY INFORMATION
Information relating to Ambertech Limited (parent entity):
Parent Entity
2025
2024
$'000
$'000
Current Assets
22,587
22,638
Total Assets
27,144
27,196
Current Liabilities
3,226
2,958
Total Liabilities
3,226
2,958
Share capital
22,332
22,332
Share issue cost reserve
78
78
Retained earnings
1,508
1,828
(Loss)/Profit of the parent entity
(320)
(842)
Total comprehensive loss of the parent entity
(320)
(842)
Guarantees entered into by the parent entity in relation to the debts of its subsidiaries
The parent entity and some of its subsidiaries are party to a deed of cross guarantee under which each company guarantees
the debts of the others. No deficiencies of assets exist in any of these subsidiaries.
Contingent Liabilities
The parent entity had no contingent liabilities as at 30 June 2025 (2024: Nil).
Capital Commitments
The parent entity had no capital commitments for property, plant and equipment as at 30 June 2025 (2024: Nil)
Material Accounting Policy
The accounting policies of the parent entity are consistent with those of the consolidated entity, as disclosed in note 1 and
throughout the notes, except for the following:
-
Investments in subsidiaries are accounts for at cost, less any impairment in the parent entity.
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AMBERTECH LIMITED AND CONTROLLED ENTITIES
ACN 079 080 158
DIRECTORS’ DECLARATION
The directors of the company declare that:
1.
The financial statements, comprising the consolidated entity disclosure statement, consolidated statement of profit
or loss and other comprehensive income, consolidated statement of financial position, consolidated statement of
cash flows, consolidated statement of changes in equity and accompanying notes, are in accordance with the
Corporations Act 2001 and:
(a)
comply with Australian Accounting Standards and the Corporations Regulations 2001; and
(b)
give a true and fair view of the consolidated entity's financial position as at 30 June 2025 and of its performance
for the year ended on that date.
2.
The company has included in the notes to the financial statements an explicit and unreserved statement of
compliance with International Financial Reporting Standards.
3.
In the directors' opinion, there are reasonable grounds to believe that the company will be able to pay its debts as
and when they become due and payable.
4.
The directors have been given the declarations by the chief executive officer and chief operating officer required by
Section 295A of the Corporations Act 2001.
5.
In the Directors’ opinion the consolidated entity disclosure statement attached on page 13 required by subsection
205(3A) of the Corporations Act 2001 is true and correct.
This declaration is made in accordance with a resolution of the Board of Directors pursuant to section 295(5)(a) of the
Corporations Act 2001, and is signed for and on behalf of the directors by:
P F Wallace
P A Amos
Director
Director
Dated this 25th day of August 2025
Sydney
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69
SHAREHOLDERS INFORMATION
The following information is required by the Australian Securities Exchange Limited.
DISTRIBUTION OF EQUITY SECURITY BY SIZE OF HOLDING:
Number of
Shareholders
Number of
Ordinary Shares
% of Total
Capital
1
-
1,000
105
57,057
0.06
1,001
-
5,000
213
620,491
0.65
5,001
-
10,000
100
802,800
0.84
10,001
-
100,000
259
9,298,600
9.75
100,001
and
over
89
84,625,835
88.70
Total
766
95,404,783
100.00
The number of security investors holding less than a marketable parcel
of 2,632 securities is 204 and they hold 246,511 securities.
EQUITY SECURITY HOLDERS
The twenty largest shareholders as at 18 September 2025 were:
Rank
Twenty largest holders
Number of shares
% of total
capital
1
Appwam Pty Limited
30,785,7030
32.27
2
Crowton Pty Ltd
5,322,555
5.58
3
Wavelink Systems Pty Ltd Employee Super Fund
4,455,350
4.67
4
Mr Nathan Carlini
3,716,267
3.89
5
Horrie Pty Ltd
3,211,605
3.37
6
Wygrin Pty Ltd
3,155,863
3.31
7
Wallace Capital Pty Ltd
2,977,077
3.12
8
Wavelink Systems Pty Ltd
2,908,331
3.05
9
Mr Edwin Goodwin & Ms Julia Griffith
2,883,556
3.02
10
SI Corporation Pty Ltd
1,713,046
1.80
11
R&B Invest Pty Ltd
1,000,000
1.05
12
Rubino Group Pty Ltd
887,067
0.93
13
Mr Michael Carman & Mrs Alisha Carman
868,755
0.91
14
Mr Robert Douglas Lewin
842,991
0.88
15
Martini Super Pty Ltd
800,000
0.84
16
J&A Saliba Property Corp Pty Ltd
774,050
0.81
17
Terry Morris Pty Ltd
722,632
0.76
18
Hillmorton Custodians Pty Ltd
686,000
0.72
19
Finclear Services Pty Ltd
571,354
0.60
20
Yanni Investments Pty Ltd
497,755
0.52
68,779,957
72.10
Source: Boardroom Pty Limited
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70
SUBSTANTIAL SHAREHOLDERS
UNQUOTED SECURITIES
ON-MARKET BUY BACK
On 2 September 2005, the company lodged an Appendix 3C announcing an on-market buy-back
of up to 1,543,150 ordinary shares on issue. On 28 September 2006 the company lodged an
Appendix 3D amending the buy-back duration to unlimited. The company has not lodged an
Appendix 3F to finalise the buy back as of 18 September 2025.
The buy back is a part of the company’s capital management and is designed to improve shareholder
returns. During the year ended 30 June 2025 no shares were bought back by the company.
VOTING RIGHTS
On a show of hands, one vote for every registered shareholder, and for a poll, one vote for every share
held by a registered shareholder.
Substantial shareholders with a relevant interest of 5% or more of total issued shares,
based on notifications provided to the company under the Corporations Act 2001 include:
There are a total of 2,825,000 unquoted securities on issue as follows:
Shareholder
Number of shares
% of total capital
Appwam Pty Limited
30,785,703
32.27
Wavelink Systems Pty Ltd
7,538,681
7.90
Crowton Pty Limited
5,322,555
5.58
Greig and Harrison
4,980,000
5.22
Description
Number of Options
Number of holders
Options over ordinary shares
2,825,000
14
25
71
CORPORATE DIRECTORY
Registered Office (NSW Office)
VIC Office
Auckland Office
Unit 1, 2 Daydream Street
Unit 6, 17 Helen Street
48A Porana Road
Warriewood NSW 2102
Heidelberg West VIC 3081
Wairau Valley, Auckland 0627
T: 1800 251 367
T: 0800 42 62 37
www.ambertech.com.au
www.amber.co.nz
Directors
Peter Wallace (Chairman)
Peter Amos (Managing Director)
Tom Amos
Santo Carlini
Janine Rolfe
Company Secretary
Robert Glasson (Chief Operating Officer)
Investor Relations
Melanie Singh
melanie@nwrcommunications.com.au
Auditor
BDO Audit Pty Ltd
Level 11, 1 Margaret Street
Sydney NSW 2000
T: + 61 2 9251 4100
Share Registry
Boardroom Pty Limited
GPO Box 3993
Sydney NSW 2001
Tel: 1300 737 760
www.boardroomlimited.com.au
Media Enquiries
NWR Communications
melanie@nwrcommunications.com.au
Corporate Governance Statement
www.ambertech.com.au/investors/corporate-governance
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72
N OT E S
25
73
AMBERTECH LIMITED
PO Box 955, Mona Vale
NSW 1660
Unit 1, 2 Daydream St
Warriewood NSW 2102
Email: info@ambertech.com.au
Phone: 02 9998 7600
ACN 079 080 158
ambertech.com.au