Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Cap-xx Limited
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) (\"UK MAR\").\n \n5 September 2024\nCAP-XX Limited\n(\"CAP-XX\" or \"the Company\")\nTrading Update and Notice of Results\nThe Board of CAP-XX Limited, a world leader in the design and manufacture of thin, prismatic supercapacitors and energy management systems, announces an unaudited trading update in respect of the financial year ended 30 June 2024 (\"FY2024\").\n· Revenue is expected to be A$4.6m up 26.7% versus the prior financial year\n· Backlog at the end of June 2024 was USD 1.12m\n· Book/bill ratio of 1.07 as at 30 June 2024\n· R&D tax credit of approximately A$1.25m is estimated to be received in November 2024\n· Year-end cash reserves were A$2.0m\n· The Company is debt free\n· Strong new relationship with SCHURTER AG\n· Strong progress with the global distribution network\n· Global supercapacitor market is currently experiencing significant growth\nThe financial information highlighted above has not been audited, the process of which is currently ongoing. The Company's audited results for FY2024 are expected to be released on 29 October 2024.\nAgreement with SCHURTER AG (\"SCHURTER\")\nAs announced on 16 July 2024, CAP-XX and SCHURTER signed a memorandum of understanding (\"MoU\") in July to work closely together on technology development and the development of supercapacitor products under a common brand name. The MoU marks the beginning of a strategic alliance that the companies believe will bring substantial benefits for both sides and create real added value for their customers and stakeholders. By combining their extensive knowledge and capabilities, CAP-XX and SCHURTER will develop innovative, competitive products and new application-specific solutions, including co-branded supercapacitor products. SCHURTER also became a significant shareholder in the Company, having acquired CAP-XX shares in the market representing 4.69% of the Company's issued ...