Business
Trading update
Trading update.
About this update from Cap-xx Limited
[{"type":"text","content":"\n \nRNS Number : 9258R CAP-XX Limited 20 June 2018 \n\nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n20 June 2018\n \nCAP-XX Limited \n(\"CAP-XX\" or \"the Company\")\nTrading update \n \nThe Board of CAP-XX is pleased to announce that as it approaches the end of its financial year ending 30 June 2018, the Company has received a sharp increase in enquiry levels across all product ranges, including its recently announced 3 Volt technology. Total enquiries, if converted to orders, would amount to annualised sales in excess of US$20m per annum, including over US$2m which has already been classed as design wins, covering over 70 projects for cylindrical and automotive supercapacitors; small IoT and Thinline supercapacitors; and the new 3 Volt prismatic supercapacitors that are in development.\nFollowing on from the announcement made in April 2018, the Company's new 3 Volt technology programme remains on track. As previously stated, the Board believes that the development of a 3 Volt prismatic supercapacitor will be a breakthrough for IoT applications using coin cell batteries. CAP-XX is currently commencing production trials and holding discussions with potential customers and licencees.\nRoyalty payments continue to grow strongly. Licensing activity remains a key focus, as CAP-XX negotiates new agreements and tackles intellectual property infringements. The Company expects to announce further progress in these respects shortly. \nRevenues for the second half of the financial year ending 30 June 2018 are expected to be A$3.35m, including licence payments from AVX, which are significantly ahead of the first half of the year (first half total revenues: A$1.54m). These revenues are expected to result in a reduced EBITDA loss for the second half of the year of approximately A$120,000, compared to the first half EBITDA loss of A$1.5m.\nThe second half of the financial year includes revenues from the previously announced high volume order for prismatic cells, which has reduced the Company's average selling price by approximately 20%. This selling price reduction, together with the extra start-up costs for this production (as already reported); relocating manufacturing assets from a former contract manufacturer's site; and pu...