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Sorry about that, try:-

http://adanienergysolutions.com - and click on to Smart Metering and that should be okay.

LTI.

........ is the company i think you should be looking for, gizmo, as they have a smart metering portfolio, along with power distribution, cooling solutions, tech and innovation and system availability:-

http://adanienergysolutions.com/en/smart-metering

but the adani company that you mentioned earlier, i think is adani enterprises, that had their results out yesterday, who have a different portfolio in solar manufacturing, airports and road & rail projects, so they seem to be more of an infrastructure company, but may also be compatible with some of cyanconnodes target areas :-

http://adanienterprises.com

l****n & toubro have/had a similar group of companies, but they sold off their electrical & automation ( smart metering ) business to schneider electric, in 2018.

but by the way cyanconnode are diversifying, hopefully, cyanconnode could partner with more than one in the adani group.

but thank you for the original heads-up, gizmo, it is appreciated.

lti.

Good morning tonyj and all,

It is best to wait and see how any "deal " is structured. The " ...... media speculation ....... " from yesterday, is exactly that and should have had a " spoiler alert " attached.

But it is good to know that the interest in the CyanConnode seems to be gaining momentum, although a lot more than I had thought, at this stage.

From yesterday's " .... media speculation ...... " RNS:-

" CyanConnode confirms that it is in actively exploring funding opportunities to further enhance its growth and operational capabilities. Among these options is the potential for a strategic investment into its subsidiary, CyanConnode Pvt Ltd. While discussions have been held with various parties, which as a matter of course include its key partners, these remain at an early stage and there is no certainty that definative terms will be agreed or as to timing of any such discussions being concluded.

" CyanConnode remains committed to persuing avenues that will strengthen its market position in India and drive long-term value for stakeholders."

An interesting passage within the RNS, for me, is " While discussions have been held with various parties, which as a matter of course include its key partners ......... " says to me that there could be more than one offer on the table. Or even the potential for more than one offer.

The " ..... various parties ...... " means a non-partner ( at the moment ) to me.

Take care tonyj.

LTI.

........ post India planning - Azerbaijan:-

" In August 2023, CyanConnode expanded its portfolio beyond electricity and water metering into gas metering, by successfully implementing a pilot project in Azerbaijan, a new market for CyanConnode. This initiative involved supplying smart retrofit hubs and gateways, based on long-range ( LoRa ) technologies for existing gas meters, facilitating automated meter data collection. This underscores CyanConnode prowess in providing multi-utility solutions."

Not the most easiest of terrains to negotiate for RF technologiy, I would have thought. But you have to hand it to John, Heather and the team, they do love a challenge.

Good Luck all.

LTI.

..... post India planning - Malaysia:-

" As part of its APAC expansion, CyanConnode is actively collaborating with multiple utilities in Malaysia. The Company is currently in the process of certification of its radio products by Standard and Industrial Research Institute of Malaysia ( SIRIM ) for MCMC certification."

It is good to see that progress is being made in other global regions.

Good Luck all.

LTI.

...... the glossy version:-

http://cyanconnode.com/investors/annual-interim-reports/

LTI.

Good afternoon all. There you have it.

Cyanconnode " ...... notes the recent newspaper article in India, speculating that IntelliSmart Infrastructure Private Limited ( IntelliSmart ), a key partner and customer of the Company in India, is considering acquiring a significant stake in CyanConnode's India operations."

But interesting, non-the-less. With the eventual outcome potentially being very significant, for the CyanConnode and CyanConnode share-holders.

The building blocks are being positioned, of that there is no doubt. With a potentially very strong growth period ahead for us all, for 2024/2025.

Good Luck all.

LTI.

Thanks Vas.

LTI.

Good afternoon tonyj.

The deal is, tonyj, there is no deal at the moment. It could be that the structure of an agreement/any agreement is still being ironed out.

From this mornings report:-

" CyanConnode, a UK based company, designs narrowband radio mesh networks for smart grids. It has contracts covering over 3.9 million endpoints and has been in India since 2009. The company denied rumours of the deal, stating they would announce any such investment as required, by their listing on the London Stock Exchange."

So still some information to be made public, as far as I am concerned. But it is an interesting development, indeed

And it will be interesting to see where the next order comes from.

Very intesting indeed.

LTI.

Good morning all,

Excellent news indeed. You can see the connection between the names IntelliSmart and DigiSmart now coming into play.

So maybe it wasn't such a bad choice of name after all.

Well done to all concerned.

Good Luck all.

LTI.

....... will be held at the offices of Panmure Liberum, 25 Ropemaker Street, London, EC2Y 9LY, on 22nd August 2024 at 10.30 a.m.:-

http://cyanconnode.com/investors/shareholder-information/circulars-general-meetings/

Panmure Liberum:-

http://panmureliberum.com

Good Luck all.

LTI.

Good morning all,

Expanding a little on my post from on Thursday, specifically in the Financial Highlights section, point 3, about the reduction in gross margin to 30%, it is worth mentioning, I feel, the second part of that particular paragraph in connection with point 3, which provides more detail after the confirmation about " A new, lower cost version of the Gateway was released in Q4 of FY24:-

" Gross margin in the first two years of projects in India, is expected to be around 35-40%, due to revenue on hardware in the first two years of a project. After two years of each project, it is expected gross margins of greater than 90% will be achieved, due to the transition to services revenue."

So as the full business model of CyanConnode evolves, over time and more of the elements of the business start to contribute to the overall package, the business structure will be more able to withstand the financial implications that it has just had, particularly concerning the Gateway upgrade. In my opinion, of course.

Good Luck all.

LTI.

Good afternoon Vas, gizmo, tonyj and all,

Thank you for the original heads-up, gizmo and thank you Vas for finding the report. Very interesting.

I have often considered what were the differences, if any, between a WirePas solution and a CyanConnode solution, as they both seem to service Smart Meters. But is it in the same way?

But the report that you posted Vas, via gizmo, may give us part of the answer, but not all.

From the report that you posted today, Vas, WirePas use FG23 and CyanConnode on the other-hand, use FG25. The difference being, according to the RNS published on 7th March, 2023, " ....... FG25 is certified by the Wi-SUN Alliance ( Wireless Smart Ubiquitous Network Alliance ), which is the leading IPv6 sub-GHZ mesh technology for smart city and smart utility applications ".

http://polaris.brighterir.com/public/cyan/news/rns/story/x8eo5jx

There is also a report out from Silicon Labs, which confirms the difference between FG23 and FG25, far better than I can.

http://silabs.com/documents/login/presentations/tech-talks-apac-lpwan-english.pdf

When you get to page 30, you will find a page about Case Studies ( In which CyanConnode fearture, if you want to look ) on which Landis & Gyr, CyanConnode and Nagano JRC, are featured, in connection with " Learn more about how the FG25 is accelerating smart city applications worldwide ".

Good Luck all.

LTI.

" Higher revenue, lower gross margin ":-

" Revenue was £18.7m, well above our forecast of £16.3m, as previously flagged in the company's April trading update. However, the gross margin fell to 30%, below our expectations of 40%, due to third-party hardware sales in the MENA region and large premiums paid on purchase of end-of-life components for the company's previous version of its Gateway. As a result, despite revenue growing 60%, gross profit only rose only 33%, from £4.2m to £5.6m, which is 14% below our forecast of £6.5m. Gross margin should recover in FY25, since a new, lower cost version of the Gateway was released in Q4 FY2024 and are expected to exceed 35% in India, increasing over time as projects enter support and maintenance phase."

The above paragraph explains a great deal, in connection to the end of year financial results.

Good Luck all.

LTI.

Good afternoon Vas,

As I metioned in my 10:21 post, it is the first time that I have seen it mentioned. And anything that mentions Tamil Nadu/TANGEDCO, grabs my attention.

Especially with 30,000,000 smart meters at the Sanctioned stage.

Take care Vas.

LTI.

Good afternoon all,

From the Zeus: FY24: Profitability expected in FY25 report, this morning.

" Revenue was well above our estimates, as previously flagged in the company's April trading update, with a YoY growth of 60%. However, gross profit was 14% below our expectations due to a higher mix of third-party hardware sales and temporarily higher component costs attributed to an end-of-life product. Expenses were higher than expected due to investments in hardware and software development to meet the company's expanding backlog. As a result, the Adjusted EBITDA los increased to £2.75m, larger than our estimate of £1.1m. Due to a higher cost base, our FY25 adjusted EBITDA forecasts are reduced by 34% to £2.9m, but revenue and gross profit are unchanged. Cash at the end of FY24 was £0.8m and rose to £1.2m at the end of Q1 FY25, due to strong collections of receivables. The company believes it has sufficient cash to see it through to profitability, based on its standard operating model, but is exploring options for additional working capital funding, if required, to support rapid growth."

Good Luck all.

LTI.

Good morning all.

Post Year End Highlights:

Again, some of which we already have been made aware of. But it is always good to get some clarity on what is possible to comment on, in connection with the financial aspect of any progress by CyanConnode, since the Financial Year ended on March 31st, 2024:-

- Revenue of £3.5m in the first quarter of FY25, being 25% higher than the same period in FY24.

- £5.0m cash received from customers in the first quarter of FY25, being 40% higher than the same period in FY24.

- Cash at end of June 2024 of £1.1m.

- Win ratio in India in terms of tenders, to date of 29% and 16% in terms of volumes.

So, some significant progress has been made by CyanConnode during the first quarter of FY25.

And has John Cronin has indicated in the RNS this morning " I look forward to an even more successful FY25 ".

Good Luck all.

LTI.

Operational Highlights:-

The majority of the Operational Highlights are probably already known to us, but something that must have slipped through my net is item 6, on the Operational Highlights:-

- Project Management: JVVNL TN72 & TANGEDCO projects now under Facility Management Services ( FMS ), ensuring streamlined operations and maintenance.

Very interesting.

LTI.

John Cronin, Executive Chairman of CyanConnode, commented:-

" FY24 marked another exceptional period for CyanConnode, in terms of our strategic footprint and revenue, with revenue growth of 60% over FY23, significantly exceeding market expectations.

" During the period and since, our order book has continued to grow; for India alone, cumulative orders stand at approximately 6.6 million Omnimesh Modules. To the end of March 2024, we had successfully delivered around 2.8 million Omnimesh Modules and we anticipate that deliveries of Omnimesh Modules will significantly increase during FY25.

" We were also delighted with the empanelment of DigiSmart as an AMISP, for both RF and Cellular, which we believe will present significant further opportunities for the Company. More recently we have also been pleased with the successful achievement of milestones, such as SAT and go-live, for some of pur projects."

The success of a Company, is not only shown in its end of year figures, but also in the foundations and building-blocks that it puts down for the future.

In my opinion.

Good Luck all.

LTI.

Good morning all,

Some of the financial highlights, but in a slimmed-down version:-

- Increase of 60% in revenue to £18.7m in FY24 from £11.7m in FY23.

- Increase in gross profit to £5.6m in FY24 (FY23: £4.2m )

- Reduction in gross margin to 30% ( FY23: 36% )

- Operating loss increased to £4.2m in FY24 ( FY23: £3.3m )

- Decrease in cash position to £0.8m in FY24 ( FY23: £4.1m )

- Increase in cash collected from customers to £16.9m in FY24 ( FY23: £10.7m ) broadly in line with increase in revenues.

The increase in revenue, cash collection and gross profit, are encouraging, but with some fine-tuning still to be done in other areas. So from my perspective, CyanConnode are going in the right direction.

Good Luck all.

LTI.