Calix Ltd. · ASX:CXL
Calix — Investor Presentation (February 2025)
32 slides from Calix's investor presentation, Feb 26, 2025
Slide 1: Investor Presentation FY25 Interim Results
Investor Presentation FY25 Interim Results 26 February 2025 MARS IS FOR calix.global QUITTERS
Slide 2: Important Disclaimer
Important Disclaimer This presentation has been prepared by Calix Limited (ABN 36 117 372 540) (“Company”). INVESTMENT RISK SUMMARY INFORMATION An investment in Calix securities is subject to investment and other known and unknown risks, some of which are beyond the control of This presentation cont
Slide 3: Calix Limited: Acknowledgement of country, social inclusion, sustainability
Calix Limited Acknowledgement of Social inclusion Sustainability country statement statement At Calix, sustainability means meeting our own Calix acknowledges the First Nations people and Calix embraces diversity and inclusion. It is one needs without compromising the ability of future traditional c
Slide 4: About Calix
About Calix Solving global challenges Electrification of industrial processing | Capture of unavoidable emissions | Sustainable environmental solutions Calix Limited is an environmental technology company solving urgent global challenges in industrial decarbonisation and sustainability. 7 COUNTRIES
Slide 5: Calix’s core platform technology
Calix’s core platform technology A new way to “heat stuff up” CO2 captured Carbon Capture Pre-ground minerals when processing carbonate materials Unavoidable CO 2 process emissions from cement & lime production are captured for use or storage. Calciner tube radiates heat to raw material Sustainable
Slide 6: Calix Group Structure
Calix Group Structure One core platform technology with multiple applications for global industries Platform output Carbon Capture Sustainable Processing Magnesia Business Pilbara subsidiary Minerals UJV ZEAL Application Cement & lime Direct Air Capture Lithium Alumina Iron & steel Water Targeting M
Slide 7: 1H FY25 Financial Highlights
1H FY25 Financial Highlights Growing revenues and focused commercialisation 1H FY25 PRODUCT & SERVICES REVENUE • $13.5m product & services revenue, up 11% Revenue – $10.7m Magnesia revenue, up 8% 13.5m $ (1H FY24: $12.2m) growth – $2.9m Leilac services revenues, up 26% • Non-cash $8.8m gain on PLS U
Slide 8: Statement of profit or loss
Statement of profit or loss For the half-year period ended 31 December 2024 1H FY25 1H FY24 ($m’s) ($m’s) Key takeaways Revenue, grants & other income 15.2 15.9 • Revenue growth continues Magnesia revenues 10.7 9.9 Leilac revenues 2.9 2.3 – Continued revenue growth in Magnesia Grants & other income
Slide 9: Statement of financial position
Statement of financial position As at 31 December 2024 Dec 24 Jun 24 ($m’s) ($m’s) Key takeaways: Cash and cash equivalents 35.8 43.0 • $35.8m cash balance at 31 Dec 2024 Trade, other receivables and other assets 5.2 4.3 Inventories 4.2 5.4 • Balance sheet remains strong & essentially debt free Curr
Slide 10: Statement of cash flows
Statement of cash flows For the half-year period ended 31 December 2024 1H FY25 1H FY24 ($m’s) ($m’s) Key takeaways: Receipts from customers 13.3 8.9 • Healthy cash position to pursue our opportunities Receipts from government bodies 0.4 1.1 Payments to suppliers and employees (32.1) (26.8) • $6.6m
Slide 11: Operational update
Operational update 1H FY25 Results 26 February 2025 11
Slide 12: Mid-Stream Demonstration Plant with Pilbara Minerals UJV
Mid-Stream Demonstration Plant with Pilbara Minerals UJV Project Partner Funding support Industry Market size PLS UJV Mid-Stream Lithium Royalty % of US$7Bpa1 Objectives Status Targeted next steps • Demonstrate lower CAPEX & OPEX for mineral processing • $15m grant from the Western Australian Govern
Slide 13: Rapid restart underway for PLS Mid-Stream Project
Rapid restart underway for PLS Mid-Stream Project The Project is 74% complete to the end of December 2024. Commissioning targeted for Dec Quarter 2025 Earthworks, Procurement & Project Engineering Assembly Commissioning & Operations Fabrication pause Restart December Completed by Dec 24 February 202
Slide 14: Zero Emissions Steel Technology
Zero Emissions Steel TechnologY Project Partner Funding support Industry Market size Royalty % of ZESTY Green Iron Demo Iron & Steel US$640Bpa1 Objectives Status Targeted next steps • Develop industry leading H2-DRI technology • ZESTY proven at pilot scale, with metallisation rates up to • Agree com
Slide 15: Direct Air Capture with Heirloom
Direct Air Capture with Heirloom Partner funding Project Partner Industry Market size support Heirloom – LA, USA Direct Air Capture >1 BTpa CO21 Objectives Status Targeted next steps • Develop an integrated and scalable design for Heirloom’s • Global & perpetual licence agreement signed for the • Co
Slide 16: Project ZETA
Project ZETA Project Partners Funding support Industry Market size Project ZETA Cement & lime 1.4 BTpa CO21 Objectives Status Targeted next steps • Build a commercial demonstration electric calciner for near • $15m grant from the Australian Government secured • Complete pre-FEED study zero emissions
Slide 17: Leilac-2
Leilac-2 Project Partner Funding support Industry Market size Leilac-2 Cement & lime 1.4 BTpa CO21 Objectives Status Targeted next steps • Demonstrate a replicable module that can efficiently capture • Project successfully relocated to Heidelberg Materials’ • Complete permitting submission and gain
Slide 18: Leilac-3: Full-scale cement & lime deployment
Leilac-3: Full-scale cement & lime deployment Projects Partners Funding support Industry Market size Multiple in development TBC Cement & Lime 1.4 BTpa CO21 Objectives Status Targeted next steps • Deploy Leilac’s technology at full-scale with multiple partners • Heidelberg Materials & Leilac continu
Slide 19: Magnesia
Magnesia Product Partners Funding support Industries Market size Magnesium Hydroxide N/A Water ~100m US$pa1 Liquid Objectives Status Targeted next steps • Grow sales of MHL products for sustainable water & • Development of ‘specialties’ applications and Mg metal • Accelerating revenue growth in Cali
Slide 20: Indicative project & revenue timeline
Indicative project & revenue timeline Project / TIMELINE Business Partners Industry Product 2022 2023 2024 2025 2026 2027 2028 Leilac-2 Cement Secured grant funding Targeted financing / working capital cover Target first license revenues Lime & Zeta Cement Secured grant funding Targeted project equi
Slide 21: Calix recognised on the global stage
Calix recognised on the global stage ZESTY wins COP29 global ZESTY project wins at HILT Calix a finalist for Next Net-Zero Industry Award CRC 2024 Annual Conference Gen Awards HILT CRC • The award for global Outstanding Project was presented by • The Project “Testing of Australian iron ores in a hyd
Slide 22: Sustainability | 1HFY25 highlights
Sustainability | 1HFY25 highlights AMBITION Decarbonise operations Increase diverse representation Address resource consumption Ensure zero harm Reduce emissions in line with a 1.5-degree Achieve gender balance of 40:40 at all levels Addressing the sustainability of the materials Realise zero harm t
Slide 23: Global industrial decarbonisation markets & policy drivers
Global industrial decarbonisation markets & policy drivers Market Europe USA Australia China India Japan Brazil – EU ETS – 45Q tax credit for – Safeguard – Cement, steel & – Regulations adopted – ETS scheme to – Brazilian Emissions CCUS & DAC Mechanism aluminium added to for a Carbon Credit begin in
Slide 24: Business cases beyond decarbonisation
Business cases beyond decarbonisation Calix’s core platform technology is designed to create significant customer value beyond incentives to decarbonise Increasing production & Grid stabilisation services Processing waste fines Enabling lower energy costs competitiveness (in development) • Fines mat
Slide 25: Summary & Outlook
Summary & Outlook FINANCIAL HIGHLIGHTS H1FY25 Revenues increased Cost-base reduced Balance sheet remains strong • Magnesia revenue up 8% • $6m annualised savings from • $22.1m raised • Leilac revenue up 26% Jan 2025 onwards • At least 18-month runway for • ~$3m one-off costs in H12025 commercialisat
Slide 26: Q&A
Q&A 1H FY25 Results 26 February 2025 26 26
Slide 27: Appendix
Appendix 1H FY25 Results 26 February 2025 27 27
Slide 28: Glossary
Glossary Term Meaning Aluminium (Al) Chemical element with the symbol Al Antimicrobial Antimicrobial products kill or slow the spread of microorganisms, including bacteria, viruses and fungi. AMR Antimicrobial resistance – the development of resistance in bacteria, viruses, fungi and parasites to an
Slide 29: Glossary
Glossary Term Meaning CRC Cooperative Research Centre – Australian Government supported industry-led collaborative research centres CRC SAAFE Cooperative Research Centre Solving Antimicrobial Resistance in Agribusiness, Food, and Environments DAC Direct Air Capture – the extraction of carbon dioxide
Slide 30: Glossary
Glossary Term Meaning Hematite A mineral that is an ore of iron HILT CRC Heavy Industry Low-carbon Transition Cooperative Research Centre Hydrometallurgy A metal recovery method used to obtain metals from ores and waste materials HyGATE German-Australian Hydrogen Innovation and Technology Incubator
Slide 31: Glossary
Glossary Term Meaning MHL Magnesium Hydroxide Liquid MOU Memorandum of Understanding Nanoporous A material with a regular, porous structure, with a pore size generally less than 100 nanometres. Pelletisation The formation of pellets from finer materials to aid in handling PLS Pilbara Minerals, an Au
Slide 32: Mars is for quitters
Investor relations Media enquiries Investorrelations@calix.global media@calix.global calix.global Subscribe to our Newsletter Mars is for quitters