REG - CML Microsystems PLC - AGM Statement and Trading Update

CML MicrosystemsAnnouncement

10/08/2022 07:45

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RNS Number : 5379V  CML Microsystems PLC  10 August 2022

10 August 2022

CML Microsystems Plc

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

AGM Statement

CML Microsystems Plc, which develops mixed-signal, RF and microwave
semiconductors for global communications markets, will hold its Annual
General Meeting today at 11.00 am at which Nigel Clark, Executive Chairman,
will provide the following trading update:

Trading Update

We entered the new financial year with a healthy order book and a strong
pipeline of future opportunities. We have made good progress so far, with
trading for the opening four months comfortably ahead of the prior year
comparable period.

Our enhanced strategy to widen the addressable market is gathering pace and
activities to capture share of new market application areas remains a priority
focus. In support of this, several new product releases are scheduled across
the coming months that are projected to start contributing to revenues during
the following year.

As expected, planning applications have now been submitted for the commercial
development of excess land at the Group's 28-acre Essex headquarters site and,
if successful, this could generate a significant cash inflow for the Group.

After experiencing an encouraging start, the Board remains of the view that
full year trading to 31 March 2023 will show a firm improvement, both
operationally and financially.

 

 CML Microsystems Plc                     www.cmlmicroplc.com (http://www.cmlmicroplc.com/)

  Tel: +44(0)1621 875 500
 Chris Gurry, Group Managing Director

Nigel Clark, Executive Chairman

 Shore Capital                           Tel: +44(0)20 7408 4090

 Toby Gibbs

 James Thomas

 John More

 Fiona Conroy

 Alma PR                                 Tel: +44 (0)20 3405 0212

 Josh Royston

 Andy Bryant

 Matthew Young

 

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication markets with strong growth
profiles and high barriers to entry. It has secured a diverse, blue chip
customer base, including some of the world's leading commercial and industrial
product manufacturers.

The spread of its customers and diversity of the product range largely
protects the business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven by factors
such as the appetite for data to be transmitted faster and more securely, the
upgrading of telecoms infrastructure around the world and the growing
prevalence of private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

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