In a strategic move to fortify the security infrastructure of Sydney Trains, Ava Risk Group (ASX: AVA) has inked a five-year support agreement to enhance the safety of vital transportation assets with intrusion detection technology.
The contract is valued at approximately $500k and is an extension of the existing contract Ava has had in place with Sydney trains for more than 10 years.
Ava’s surveillance technology has played a pivotal role in safeguarding Sydney Trains’ maintenance centres and stabling yards from unauthorised intrusions, theft, and vandalism. These locations, integral to the city’s transportation network, not only store critical maintenance equipment but also house a substantial portion of the inter-urban train fleet.
CEO Mal Maginnis expressed his satisfaction with the extended collaboration, highlighting the company’s market-leading solutions and the unwavering dedication of its support team in optimising system performance.
“Agreements of this type are designed to meet the unique needs of each customer and provide assurance that their facilities and infrastructure are protected to the highest level of operational effectiveness,” stated Maginnis.
Train yards, serving as crucial nerve centres for transportation operations, are susceptible to a range of security threats that, if unchecked, can inflict severe damage on both infrastructure and service operations. Unauthorised intrusions into these yards pose significant risks, including theft of valuable equipment, damage to rolling stock, and potential disruptions to the train schedule.
Vandalism and theft are perennial challenges faced by rail operators globally, impacting service reliability and incurring substantial financial losses. With Ava’s advanced perimeter intrusion detection technology in place, Sydney Trains can deter, detect, and respond to security breaches, mitigating the potential for operational disruptions and financial losses.
The importance of securing train yards cannot be overstated, especially considering the critical role they play in maintaining and deploying trains. These sites are not merely storage facilities but are central to the smooth functioning of the transportation network, ensuring the timely and safe movement of passengers and freight across Sydney.
As the world grapples with increasing security concerns around public infrastructure, collaborations like these demonstrate the importance of leveraging cutting-edge technology to protect vital assets and maintain the integrity of essential services.
For the financial year ended 30 June 2023, Ava Risk reported $28.6 million revenue which represented a 54% increase on the previous year. This delivered $1.4 million EBITDA.
The Company has issued revenue guidance for H1 FY24 to fall between $14.2 million to $15.2 million.with H2 FY24 expected to be stronger.
Mitch Korver is a Business Writer focused on high-growth companies listed on the ASX in the small and medium cap space.
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