Business
Audited results for the year ended 30 June 2020
Audited results for the year ended 30 June 2020.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0672E\n CAP-XX Limited\n 03 November 2020\n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n \n \n \n \n \n \n \n 3 November 2020\n \n \n \n \n \n CAP-XX Limited\n \n \n (\"CAP-XX\" or the \"Company\")\n \n \n \n \n \n Audited results for the year ended 30 June 2020\n \n \n \n \n \n CAP-XX Limited, \n a world leader in the design and manufacture of supercapacitors and energy management systems, is pleased to \n announce its audited results for the year ended 30 June 2020.\n \n \n \n \n \n \n \n \n Key highlights\n \n \n \n \n \n · \n Revenue up 12% on the previous year\n \n \n \n \n \n · \n Adjusted net loss* for the year reduced to A$2.0 million (2019: adjusted net loss of A$2.8 million)\n \n \n \n \n \n · \n Company sales order book as at 30 June 2020 more than double the value at the same time in the previous year\n \n \n \n \n \n · \n Ex-Murata production lines capacity expansion project on schedule and within A$5.3 million budget\n \n \n \n \n \n ·\n New facility in final stages of commissioning - tested supercapacitor products to be available for shipment to customers before the end of the current calendar year\n \n \n \n \n \n ·\n Aggregate level of customer enquiries well exceeds the full capacity of these production lines, with the top 10 prospects exceeding 9 million units per annum\n \n \n \n \n \n · \n CAP-XX is pursuing Ioxus for the payment of awarded damages\n \n \n \n \n \n ·\n CAP-XX continues to pursue a similar patent infringement action against Maxwell Technologies, now a wholly owned subsidiary of Tesla Inc. with the initial discussions in front of the Court scheduled during November 2020\n \n \n \n \n \n · \n Cash reserves as at 30 June 2020 were A$2.9 million (2019: A$2.4 million), before expected A$3.2 million R&D tax rebate (November 2019: A$1.6 million) \n \n \n \n \n \n * Adjusted to exclude net Murata project expenses, legal expenses for patent infringement and charges necessitated by a new accounting treatment of lease expenses.\n \n \n \n \n \n Anthony Kongats, Chief Executive of CAP-XX said:\n \n \n \n \n \n \"We are pleased to be able to report exc...