Business
1H'22 update: strong shipments and cash inflows
1H'22 update: strong shipments and cash inflows.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5881P\n CyanConnode Holdings PLC\n 20 October 2021\n \n \n \n \n \n Hardman & Co Research:\n \n \n \n \n \n \n CyanConnode (CYAN): 1H'22 update: strong shipments and cash inflows\n \n Alongside the multiple new contracts signed in fiscal 1H, CyanConnode's smart meter intelligent module shipments continued to accelerate during the period. 315,000 modules were shipped, versus 92,000 in the same period last year and 481,000 for the entirety of FY'21. 1H'22 revenue came in at £4.1m, almost three times the comparative 1H'21 figure of £1.5m. The potentially immense market opportunity is starting to translate into large orders, accelerating shipment volumes, exceptionally strong revenue growth and cash inflows - £3.8m was received from customers during the period, resulting in £1.7m net cash at end-September 2021. Our updated DCF-implied fair equity value for CyanConnode is £89.6m.\n Please click on the link below for the full report:\n \n https://www.hardmanandco.com/research/corporate-research/cyanconnode/\n \n If you are interested in meeting the company, you can register your interest by clicking on the above link\n \n \n \n To contact us:\n Hardman & Co\n1 Frederick's Place\n London\n EC2R 8AE\n \n www.hardmanandco.com\n \n \n Follow us on Twitter @HardmanandCo\n \n \n Contact:\n Milan Radia\n \n \n \n+44(0)20 3693 7075\n \n \n \n [email protected]\n \n \n \n \n \n Hardman & Co Research can still be accessed for free after MiFID II. Please \n \n \n click here\n \n \n to read the statement.\n \n \n \n \n About Hardman & Co:\n \n For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors,\n \n and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. \n \n \n Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and i...