The Australian cleantech company Parkway Corporate (ASX: PWN; FRA: 4IP), specializing in industrial wastewater, reported a further increase in operating revenue to AUD 4.22 million for the fourth quarter of fiscal year 2025, which ended in June, with a positive EBITDA of AUD 0.47 million. Operating cash flows were also positive in the quarter, with a net cash flow from operating activities of AUD 0.87 million.
For the full fiscal year 2025, the company expects its first annual profit in its history, subject to independent audit. The fiscal year is projected to achieve record revenue of approximately AUD 15.14 million and a preliminary EBITDA of around AUD 1.52 million. Cash and cash equivalents amounted to AUD 2.58 million as of June 30, 2025, supplemented by a credit line of AUD 3 million and an acquisition facility of AUD 2 million, signaling a solid financial position. Given recent successes and a well-filled pipeline of additional project-related contracts, Parkway Corporate expects continued growth in operating revenues for the foreseeable future.
Figure 1: Group Financial Overview (Fiscal Years 2021–2025). Operating revenues have multiplied since 2020/21. EBIT and profit have been steadily increasing since 2021. By the end of fiscal year 2025, the company reaches profitability for the first time.
Figure 2: Group Financial Overview in Fiscal Year 2025. Operating cash flow was positive at the end of the reporting period.
Parkway Corporate: Sustainable Growth Driven by Tankweld Division
Sustainable growth is driven by project business, particularly from the Tankweld Division. The company has secured significant contracts, including a AUD 12.85 million contract with a major engineering and construction company, as well as additional contracts worth AUD 0.66 million from a regional water utility. These contracts involve the supply of structural, mechanical, and piping works for a state-of-the-art wastewater treatment plant with innovative resource recovery features. Parkway Corporate also invested approximately AUD 0.60 million in new vehicles, a telehandler, and automated welding technology to improve project execution and enhance safety.
The strong development of its Industrial Operations Division (via Parkway Process Solutions, PPS) provides Parkway with the financial foundation, as well as comprehensive know-how, for the strategic growth opportunities the company is pursuing in its Industrial Technology Division (via Parkway Process Technologies, PPT). The integrated capabilities of both divisions enable Parkway to deliver turnkey water treatment projects and commercialize its proprietary technologies.
Parkway’s Industrial Technology Division primarily addresses the challenges of the coal seam gas (CSG) industry in Queensland. Through its Queensland Brine Solutions (QBS) program, the company aims to convert brines and wastewaters generated by the CSG industry into valuable industrial chemicals.
In a quarterly webinar, which the company now regularly offers in conjunction with its quarterly results (Parkway Corporate | Q4-FY2025 Investor Webinar – Parkway Corporate (ASX:PWN)), Managing Director Bahay Ozcakmak reported on recent progress in securing strategic project sites for brine processing. In this context, Parkway has developed extensive feasibility studies with various scenarios, which are available to future partners and stakeholders. These studies demonstrated the high utility and economic value that the new technology offers the industry. Ozcakmak emphasized his confidence that he would soon (“ASAP”) be able to announce the decision on a location for the planned upstream and downstream processing of CSG brines. The QBS concept includes the pre-treatment and concentration of wastewaters directly at customer sites, transport and consolidation in a Brine Management Complex (QBMC), and further processing in a Brine Electrochemical Complex (QBEC) for the production of chemicals such as caustic soda (NaOH), hydrochloric acid (HCl), and other green chemicals.
