Business
Interim Results for the half-year ended 31.12.2015
Interim Results for the half-year ended 31.12.2015.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 4108T CAP-XX Limited 30 March 2016 \n\n30 March 2016\n \n \nCAP-XX Limited\n(\"CAP-XX\" or the \"Company\")\n \nInterim Results for the half-year ended 31 December 2015\n \n \nCAP-XX Limited, a world leader in the design and manufacture of revolutionary thin-form supercapacitors, which considerably extend the performance of batteries, announces its interim results for the half-year ended 31 December 2015.\n \n \nFinancial Highlights\n \n· Total Revenue of A$1.6m down 27% on the corresponding half year due to the deferment in orders, as announced by CAP-XX on 12 October 2015, and the increased lead time for new projects to scale up to full volume.\n \n· Murata royalty contribution has more than tripled from the corresponding half year in 2015. \n \n· CAP-XX remains excited by the number of large scale sales opportunities that it is working on.\n \n· Gross Margin at A$629,000 was steady with 1H14 Gross Margin of A$657,000, due to realised manufacturing cost savings. \n \n· Net Loss increased to A$1.3m (1H14: A$0.9m) due to increased overheads of A$457,000 (1H15 A$2.7m vs. 1H14 A$2.1m) attributable to:\n \n· the development of large supercapacitor modules (including TruckStart);\n· increased licencing activity; \n· design enhancements to improve performance from the existing product range; \n· evaluation of alternative lower cost raw materials; and \n· commissioning of new production plant and machinery. \n \n· Post period end, AVX and CAP-XX have agreed terms for a worldwide non-exclusive licence of the CAP-XX patents to AVX for a range of prismatic and cylindrical supercapacitor sizes. Under the terms of the licence, CAP-XX expects to receive upfront licence fees over a three year period and a 5% royalty. The initial upfront licence fees receivable by CAP-XX for the first twelve months will be a minimum of £1.26 million (approximately A$2.4m), with payments in subsequent ye...