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21 Dec 2023 07:00
Dissemination of a Regulatory Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.
21 December 2023
CAP-XX Limited
("CAP-XX" or the "Company")
Trading update
CAP-XX Limited, a world leader in the design and manufacture of supercapacitors and energy management systems, announces the following trading update.
The Company is pleased to report that sales for the first half of the financial year ending 30 June 2024 ("FY24") are expected to be 35% ahead of the prior year comparative period. The increased sales for the period were underpinned by strong product sales in an absence of licencing revenue in the period. Order intake for the first half of FY24 was ahead of the prior year period by over 30%. The Company has maintained a positive book-to-bill ratio (the ratio of orders CAP-XX has received compared to units it has shipped and invoiced), which currently stands at 1.12, following an estimated increase in order backlog of 26% compared to the prior year comparative period.
The strong operating performance follows the operational reorganisation of the sales team and a renewed focus on customer relationship management, together with the recommencement of a number of key projects.
As previously announced, the Company looks forward to proceeding with its current product range, supported by a strong portfolio of current IP, to focus on the key short-term actions to maximise sales and deliver profitability. In addition, the second half of FY24 will include an increase in production of the new DMH product and a contribution from the new distribution network. The patents announced on 7 December 2023 are not expected to drive contribution until the end of calendar year 2024.
For further information contact:
CAP-XX Limited
Pat Elliott (Chairman) +61 (2) 9157 0000
Lars Stegmann (Chief Executive Officer)
Allenby Capital (Nominated Adviser and Joint Broker)
David Hart / Piers Shimwell (Corporate Finance) +44 (0) 20 3328 5656
Tony Quirke / Stefano Aquilino (Sales and Corporate Broking)
Cavendish Securities plc (Joint Broker)
Neil McDonald / Pearl Kellie +44 (0) 13 1220 6939
Kreab (Financial PR)
Robert Speed +44 (0) 20 7074 1800
Notes to Editors:
CAP-XX (LSE: CPX) is a 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
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