Allenby Capital: CAP-XX Ltd interims

Interims from CAP-XX Ltd (CPX.L), a world leading designer and manufacturer of thin, prismatic supercapacitors and energy management systems, indicate positive momentum with substantial growth in bookings, billings and backlog as the company’s commercial strategy of direct and indirect sales gains traction. H1 revenue increased 9% to A$2.6m, bookings +31% to A$3.4m and billings +14% to A$2.6m, resulting in a backlog of A$2.8m, up 132%. Coupled with good cost control, there was a 7% reduction in EBITDA losses to A$1.1m. Working capital was well managed and CPX ended H1 with trade debtors exceeding trade creditors by A$0.3m and A$2.9m of net cash. CPX has also invested in its internal systems and now in H1 has improved visibility over prod...