Last checked at 10 Aug 2021 07:00
REACH
10 August 2021
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Investor Presentation
CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to announce that John Cronin, Executive Chairman of CyanConnode, and Heather Peacock, Chief Financial Officer, will provide a presentation and live Q&A session with investors on Tuesday, 17 August 2021 at 10:30am, to discuss the Company's recently announced results for the year ended 31 March 2021.
A summary of the highlights of those results include the following:-
· Significant increase in number of modules shipped during the year (2021: 481,000 vs 86,000 in 2020)
· Order for 350,000 Omnimesh modules worth more than £6 million
· Previously delayed Indian contract resumed worth INR 1 billion (c. £10.5m)
· Commencement of rollout of projects in India and Thailand following easing of COVID-19 lockdowns
· Continued rollout of Swedish projects
· New Senior Management Team appointed in India
· Financial Highlights:
- Revenue increased by 163% from £2.5m in 2020 to £6.4m in 2021, the highest annual revenue for the Company to date
- Gross Profit improvement of 126% from £1.4m in 2020 to £3.1m in 2021
- Operating loss decreased by 57% from £6.2m in 2020 to £2.7m in 2021 as the Company moves towards profitability
- Adjusted EBITDA improved by 62% from a loss of £4.9m to £1.9m
- Improvement in cash position by 27% from £1.2m in 2020 to £1.5m in 2021
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet CyanConnode Holdings plc via:
https://www.investormeetcompany.com/cyanconnode-holdings-plc/register-investor
· Investors who already follow CyanConnode Holdings plc on the Investor Meet Company platform will automatically be invited.
- Ends -
Enquiries:
CyanConnode Holdings plc
John Cronin, Executive Chairman Tel: +44 (0) 1223 225 060
Arden Partners plc (Nomad and Broker)
Paul Shackleton / Akhil Shah (Corporate Finance) Tel: +44 (0) 20 7614 5900
Simon Johnson (Corporate Broking)
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.
For more information, please visit www.cyanconnode.com
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