AoFrio posts record revenue despite supply chain challenges

CEO Greg Bella said the result was driven by a strategic shift to supplying IoT solutions over motors. (Image: Supplied)

Ben Moore

Thu, 19 Jan 2023

AoFrio, formerly Wellington Drive Technologies, reported $74.3 million in revenue for the December financial year, a record for the company, though lower than expected.The result represented a 15.7% year-on-year increase.The smart refrigeration technology company was yet to have its financial results audited, but forecasted earnings before interest, taxation, depreciation and amortisation (Ebitda) of $1.5m for the year.Chief executive Greg Balla said that despite revenue constraints due to supply chain challenges, the company realised $24.3m in...

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