REG - CAP-XX Limited - Trading update and notice of results <Origin Href="QuoteRef">CAPX.L</Origin>

CAP XXAnnouncement

25/07/2015 09:48

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RNS Number : 6791T
CAP-XX Limited
21 July 2015 
 
21 July 2015 
 
CAP-XX Limited 
 
("CAP-XX" or "the Group") 
 
Trading update and notice of results 
 
CAP-XX Limited, a world leader in supercapacitors, today announces a trading
update for the financial year ended 30 June 2015. CAP-XX intends to issue its
final results for the financial year ended 30 June 2015 on 1 September 2015. 
 
Trading update 
 
Trading in the final quarter of the year was in line with management's
expectations and reflected the trends previously reported.  As a result, the
Group expects to report full year revenue and operating loss which are in line
with the Board's expectations. 
 
During the year, CAP-XX achieved sales of approximately A$4.4m for its
traditional supercapacitor product. This represents an increase of 10% over
the previous year.  The Board is pleased by the progress that has been made in
its new business areas of Automotive and Thinline (ultra compact devices). 
 
Further to the announcement of 1 June 2015, the Group delivered automotive
supercapacitors to its US based Global Tier-1 customer, under the development
phase of its MOU, and further device deliveries are scheduled for September
2015.  In addition, further orders have been received from the US-based Global
Tier-1 customer. In-vehicle road testing is underway with excellent results
having been reported to CAP-XX to date. Separately, product development work
is proceeding in Europe with another Tier-1 customer, to develop products for
the sports car market. 
 
The Thinline range of supercapacitors, developed for the Internet of Things
("IoT") and launched in the fourth quarter of the year ended 30 June 2015,
continues to develop considerable interest.  Products are being evaluated by
potential customers for high volume applications in smart credit cards,
medical devices, wearables, energy harvesting as well as other undisclosed
applications. 
 
The Group's net cash balance at 30 June 2015 stood at approximately A$2.6m (30
June 2014 A$0.9m), following the receipt of funds from the placings in March
and April 2015.  Total revenue for the full year 30 June 2015 is expected to
be approximately A$4.4m compared to revenue of A$3.97m for the previous year.
Net loss for the full year 30 June 2015 is expected to be approximately
(A$1.95m) compared to a loss of (A$2.54m) for the previous year.  Importantly,
this reduced loss is after expensing the additional costs associated with
launching the Thinline range of supercapacitors and developing the automotive
products. The reduced loss also reflects the ongoing reductions in
manufacturing costs. 
 
Investor Relations Event 
 
CAP-XX will host a London Capital Markets Day in November for analysts and
investors.  A series of presentations covering strategy and the market
opportunity will be given. 
 
Commenting, Anthony Kongats, Chief Executive of CAP-XX, said: 
 
"The past year has been transformational for CAP-XX.  We secured an MOU for
the development of our automotive supercapacitor, which is progressing
pleasingly. We also launched our Thinline range of supercapacitors to address
the requirement for power hungry devices for the IoT.  We are grateful for the
support of our shareholders as we launched these exciting products and view
the coming financial year with increasing confidence, supported by recent
product investments and encouraging activity levels." 
 
For further information, please contact: 
 
 CAP-XX Limited                                                                
 Anthony Kongats (Chief Executive Officer)               +61 (0) 2 9428 0139   
                                                                               
 Allenby Capital Limited (Nominated Adviser and Broker)                        
 David Hart / Alex Brearley                              +44 (0) 20 3328 5656  
                                                                               
 Kreab (Financial PR)                                                          
 Robert Speed                                            +44 (0) 20 7074 1800  
 
 
Notes to editors 
 
About CAP-XX 
 
CAP-XX (LSE:CPX) is a world leader in the design and manufacture of thin, flat
supercapacitors and energy management systems used in portable and small-scale
electronic devices, and to an increasing extent, in larger applications such
as automotive and renewable energy. The unique feature of CAP-XX
supercapacitors is their very high power density and high energy storage
capacity in a space-efficient prismatic package. These attributes are
essential in power-hungry consumer and industrial electronics, and deliver
similar benefits in automotive and other transportation applications. 
 
For more information about CAP-XX, visit www.cap-xx.com. 
 
This information is provided by RNS
The company news service from the London Stock Exchange