Findi Limited announce new details relating to the extension of the existing SBI ATM outsourcing agreement until the new SBI contract commences in 2024 (ASX announcement 30 October 2023). Findi's existing SBI ATM outsourcing agreement was due to expire on 31 December 2023. This has now been extended until 30 September 2024 or until all existing ATM's are replaced under the SBI contract (ASX announcement 30 October 2023) whichever is earlier.

The extended SBI contract is expected to deliver $27-$29 million in revenue and $9-$10 million in EBITDA over the 9-month period to 30 September 2024. Findi's Fiscal Year 2024 guidance remains unchanged as the continuation of the current SBI contract beyond 31 December 2023 was already factored into this guidance. The SBI contract has been extended at the prevailing terms with no additional scope of works or capital requirements.

This contract extension is a strategic milestone for Findi as it seamlessly bridges the time gap between the current and the new SBI contract, with the added benefit of ongoing free cash generation as any debt funding for this contract was previously retired.