Late last week, The Australian Financial Review interviewed Bruce Rodgerson about the challenges faced during COVID-19 and shared insight into the international demand for our technology as the impacts of climate change and water scarcity continue to intensify around the globe.
Rubicon had increased its presence overseas to a point where it is now 70 per cent of its business, with an IPO required to ensure it can continue to invest in growth as capital expenditure costs rise.
“It’s one thing to do it in Australia, but to build the relationships and secure contracts, you need resources on the ground in these international markets,” Bruce said.
“That comes at a different working capital drain. We self-funded the growth completely until a couple of years ago. Over 26 years, we’ve put the profits predominantly back into the business, funded the growth ourselves with virtually zero debt. Internationally, that is no longer possible.”
See the full article linked below that went to print in yesterday’s paper.