REG - Calnex Solutions PLC - AGM Statement

Calnex SolutionsAnnouncement

16/08/2023 07:00

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RNS Number : 4232J  Calnex Solutions PLC  16 August 2023

16 August 2023

Calnex Solutions plc

 

("Calnex", the "Company" or the "Group")

 

AGM Statement

 

Calnex Solutions plc (AIM: CLX), a leading provider of test and measurement
solutions for the global telecommunications sector, provides an update on
trading ahead of its Annual General Meeting ("AGM") taking place at 9am today.

 

While customers continue to adopt a cautious approach to investment decisions,
engagement levels remain high and there are signs of optimism with regard to
the pipeline for H2 FY24, although the precise timing of orders remains
unclear. Indicators across the wider industry also point to a cautiously
improving outlook. The Board remains confident in the delivery of results for
the year in line with current market expectations.

 

Calnex continues to focus on expanding its business footprint, through both
application focused promotions of existing products, as well as new product
innovation. The Company's ability to source the components required for its
products continues to improve and, whilst not yet resolved, the financial
performance of the Company in FY24 is not expected to be impacted by
procurement issues.

 

The Board remains confident that the market's structural growth drivers will
continue to drive long-term growth opportunities for Calnex. These include the
need to build out new mobile networks to support the transition to 5G, and
ongoing data centre investment to support the demand for cloud computing and
advancements in Artificial Intelligence and Virtual Reality technologies,
coupled with the need to be more energy efficient.

 

The breadth of the Company's customer base across multiple regions, and the
Group's expanding product portfolio and strong balance sheet, mean the Board
looks to the future with continued confidence.

 

For more information, please contact:

 

 Calnex Solutions plc                             Via Alma PR
 Tommy Cook, Chief Executive Officer

 Ashleigh Greenan, Chief Financial Officer

 Cenkos Securities plc - NOMAD                    +44 (0)131 220 6939
 Derrick Lee, Peter Lynch

 Alma PR                                          + 44(0) 20 3405 0213
 Caroline Forde, Hannah Campbell, Joe Pederzolli

 

Overview of Calnex

 

Calnex Solutions designs, produces and markets test and measurement
instrumentation and solutions for the telecoms and cloud computing industries.
Calnex's portfolio enables R&D, pre-deployment and in-service testing for
network technologies and networked applications, enabling its customers
to validate the performance of the critical infrastructure associated
with telecoms and cloud computing networks and the applications that run on
it.

 

To date, Calnex has secured and delivered orders in 68 countries across the
world. Customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel,
Qualcomm, IBM and Meta.

 

Founded in 2006, Calnex is headquartered in Linlithgow, Scotland, with
additional locations in Belfast, Northern Ireland, Stevenage, England and
California in the US, supported by sales teams in China and India. Calnex has
a global network of partners, providing a worldwide
distribution capability.

 

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