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Opinion: No Opinion
Posted: October 17, 2018
RNS Number : 2659E
17 October 2018
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
17 October 2018
("CAP-XX" the "Company")
Audited results for the year ended 30 June 2018
CAP-XX Limited, a world leader in the design and manufacture of supercapacitors and energy management systems, is pleased to announce its audited results for the year ended 30 June 2018.
· Sales revenue of A$4.9 million (2017: A$4.1 million), EBITDA loss of A$1.6 million* (2017: A$1.2 million)
· Operational expenditure includes non-cash share-based payment provision expense of A$920K (2017: A$283K) due to the granting of Employee Share Options
· Royalty revenue of A$0.85 million (2016: A$0.66 million) up 29%
· Company announced the development of the industry's first 3 Volt prismatic supercapacitor, with commercial production on track for mid calendar year 2019
· Prismatic sales volumes up 31% on a year-on-year basis. Cylindrical cell supercapacitor revenue is increasing, with first quarter sales in FY19 exceeding the result for the FY18 full year
· Strong sales pipeline consistent with trading update announced in June 2018
· Cash reserves at year-end of A$1.9 million (2017: A$3.9 million)
· New non-exclusive license agreement with TDK Corporation of Japan for a family of CAP-XX patents signed post period end. The royalty paid by TDK will be in line with royalty rates paid by Murata and AVX
· Additional licensing deals remain under discussion and the Board anticipates some of these to successfully close before the end of the current financial year
* Excludes amortisation of employee share options
Anthony Kongats, CEO of CAP-XX said:
"We are delighted to have successfully concluded our negotiations with TDK and anticipate closing further license opportunities during the current financial year. With market interest in supercapacitors for a wide range of applications increasing, we are very encouraged by the widening of our licence portfolio and the increase in direct sales opportunities."
Electronic copies of CAP-XX's audited annual report and accounts for the year ended 30 June 2018 will shortly be available from the Company's website: www.cap-xx.com.