21 July 2015
CAP-XX Limited
("CAP-XX" or "the Group")
Trading update and notice of results
CAP-XX Limited, a world leader in supercapacitors, today announces a trading update for the financial year ended 30 June 2015. CAP-XX intends to issue its final results for the financial year ended 30 June 2015 on 1 September 2015.
Trading update
Trading in the final quarter of the year was in line with management's expectations and reflected the trends previously reported. As a result, the Group expects to report full year revenue and operating loss which are in line with the Board's expectations.
During the year, CAP-XX achieved sales of approximately A$4.4m for its traditional supercapacitor product. This represents an increase of 10% over the previous year. The Board is pleased by the progress that has been made in its new business areas of Automotive and Thinline (ultra compact devices).
Further to the announcement of 1 June 2015, the Group delivered automotive supercapacitors to its US based Global Tier-1 customer, under the development phase of its MOU, and further device deliveries are scheduled for September 2015. In addition, further orders have been received from the US-based Global Tier-1 customer. In-vehicle road testing is underway with excellent results having been reported to CAP-XX to date. Separately, product development work is proceeding in Europe with another Tier-1 customer, to develop products for the sports car market.
The Thinline range of supercapacitors, developed for the Internet of Things ("IoT") and launched in the fourth quarter of the year ended 30 June 2015, continues to develop considerable interest. Products are being evaluated by potential customers for high volume applications in smart credit cards, medical devices, wearables, energy harvesting as well as other undisclosed applications.
The Group's net cash balance at 30 June 2015 stood at approximately A$2.6m (30 June 2014 A$0.9m), following the receipt of funds from the placings in March and April 2015. Total revenue for the full year 30 June 2015 is expected to be approximately A$4.4m compared to revenue of A$3.97m for the previous year. Net loss for the full year 30 June 2015 is expected to be approximately (A$1.95m) compared to a loss of (A$2.54m) for the previous year. Importantly, this reduced loss is after expensing the additional costs associated with launching the Thinline range of supercapacitors and developing the automotive products. The reduced loss also reflects the ongoing reductions in manufacturing costs.
Investor Relations Event
CAP-XX will host a London Capital Markets Day in November for analysts and investors. A series of presentations covering strategy and the market opportunity will be given.
Commenting, Anthony Kongats, Chief Executive of CAP-XX, said:
"The past year has been transformational for CAP-XX. We secured an MOU for the development of our automotive supercapacitor, which is progressing pleasingly. We also launched our Thinline range of supercapacitors to address the requirement for power hungry devices for the IoT. We are grateful for the support of our shareholders as we launched these exciting products and view the coming financial year with increasing confidence, supported by recent product investments and encouraging activity levels."
For further information, please contact:
CAP-XX Limited |
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Anthony Kongats (Chief Executive Officer) |
+61 (0) 2 9428 0139 |
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Allenby Capital Limited (Nominated Adviser and Broker) |
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David Hart / Alex Brearley |
+44 (0) 20 3328 5656 |
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Kreab (Financial PR) |
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Robert Speed |
+44 (0) 20 7074 1800 |
Notes to editors
About CAP-XX
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.
