CAP-XX Limited Pre-close trading update (4075B)
June 10 2021 - 01:00AM
UK Regulatory
TIDMCPX
RNS Number : 4075B
CAP-XX Limited
10 June 2021
Dissemination of a Regulatory Announcement that contains inside
information for the purposes of Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 .
10 June 2021
CAP-XX Limited
("CAP-XX" or the "Company")
Pre-close trading update
CAP-XX Limited, a world leader in the design and manufacture of
supercapacitors and energy management systems, is pleased to
announce an unaudited pre-close trading update for the year to 30
June 2021 .
Revenue for the year ending 30 June 2021 is expected to be
approximately 15% higher than the prior year and in the range of
A$4.1m to A$4.2 (2020: A$3.6m), with unadjusted EBITDA for the year
ending 30 June 2021 expected to be a loss of approximately A$2.1m
to A$2.2m (2020: loss A$4.2 m). These expected sales and EBITDA
results are in line with current market expectations. EBITDA losses
for the year ending 30 June 2021 are after expensing the set-up of
the new manufacturing facility at Seven Hills, New South Wales and
increased spending on new product development and the protection of
the Company's IP.
The Company continues to make excellent progress at its new
Seven Hills production facility, where capacity and yield of
supercapacitor production continues to improve, in line with the
Board's expectations. The Board has been particularly pleased by
the high level of retention of former Murata customers which is
expected to reach about 75% by value.
The sales order book continues to grow and currently stands some
127% higher than at the end of the 2020 financial year, reflecting
a combination of new customer enquiries and repeat orders from
former Murata customers. The orderbook reflects continuing strong
demand for Internet of Things (IoT) devices, especially from the
automotive, locking, portable terminal, smart meter, wearable and
wireless sensor device segments.
The Company continues to pursue its litigation against Maxwell
Technologies, a wholly owned subsidiary of Tesla Inc, which is
progressing as per the Delaware Court schedule, whilst other
licencing and patent infringement actions are also progressing, and
a further update is anticipated during the second quarter of the
coming financial year.
The Directors are encouraged by the recent performance of the
Company and view the outlook with increasing confidence.
For further information contact:
CAP-XX Limited
Anthony Kongats (Chief Executive Officer) +61 (0) 2 9428 0139
Kreab (Financial PR)
Robert Speed +44 (0) 20 7074 1800
Allenby Capital (Nominated Adviser and Broker)
David Hart / Alex Brearley +44 (0) 20 3328 5656
Cenkos Securities plc (Joint Broker)
Neil McDonald / Pete Lynch +44 (0) 13 1220 6939
More information is available at www.cap-xx.com
Notes to Editors:
CAP-XX (LSE: CPX) is a world leader in the design and
manufacture of thin, flat supercapacitors and energy management
systems used in portable and small-scale electronic devices, and to
an increasing extent, in larger applications such as automotive and
renewable energy. The unique feature of CAP-XX supercapacitors is
their very high power density and high energy storage capacity in a
space-efficient prismatic package. These attributes are essential
in power-hungry consumer and industrial electronics, and deliver
similar benefits in automotive and other transportation
applications. For more information about CAP-XX, visit
www.cap-xx.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUPUMWQUPGPPB
(END) Dow Jones Newswires
June 10, 2021 02:00 ET (06:00 GMT)
Cap-xx (LSE:CPX)
Historical Stock Chart
From Feb 2024 to Mar 2024
Cap-xx (LSE:CPX)
Historical Stock Chart
From Mar 2023 to Mar 2024