CAP-XX Limited Trading update (9258R)
20 June 2018 - 4:00PM
UK Regulatory
TIDMCPX
RNS Number : 9258R
CAP-XX Limited
20 June 2018
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
20 June 2018
CAP-XX Limited
("CAP-XX" or "the Company")
Trading update
The Board of CAP-XX is pleased to announce that as it approaches
the end of its financial year ending 30 June 2018, the Company has
received a sharp increase in enquiry levels across all product
ranges, including its recently announced 3 Volt technology. Total
enquiries, if converted to orders, would amount to annualised sales
in excess of US$20m per annum, including over US$2m which has
already been classed as design wins, covering over 70 projects for
cylindrical and automotive supercapacitors; small IoT and Thinline
supercapacitors; and the new 3 Volt prismatic supercapacitors that
are in development.
Following on from the announcement made in April 2018, the
Company's new 3 Volt technology programme remains on track. As
previously stated, the Board believes that the development of a 3
Volt prismatic supercapacitor will be a breakthrough for IoT
applications using coin cell batteries. CAP-XX is currently
commencing production trials and holding discussions with potential
customers and licencees.
Royalty payments continue to grow strongly. Licensing activity
remains a key focus, as CAP-XX negotiates new agreements and
tackles intellectual property infringements. The Company expects to
announce further progress in these respects shortly.
Revenues for the second half of the financial year ending 30
June 2018 are expected to be A$3.35m, including licence payments
from AVX, which are significantly ahead of the first half of the
year (first half total revenues: A$1.54m). These revenues are
expected to result in a reduced EBITDA loss for the second half of
the year of approximately A$120,000, compared to the first half
EBITDA loss of A$1.5m.
The second half of the financial year includes revenues from the
previously announced high volume order for prismatic cells, which
has reduced the Company's average selling price by approximately
20%. This selling price reduction, together with the extra start-up
costs for this production (as already reported); relocating
manufacturing assets from a former contract manufacturer's site;
and pursuing patent infringement actions, has reduced the Company's
margins. For the financial year ending 30 June 2018, the Board
therefore anticipates CAP-XX will generate total revenues of not
less than A$4.9m and an EBITDA loss of A$1.6m. Closing cash is
anticipated to be in excess of A$1.8m.
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 (Corporate Finance) +44 (0) 20 3328 5656
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
large supercapacitor based modules used 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.
END
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