Second Quarter 2024 Trading Update
06/11/2024 07:00
For best results when printing this announcement, please click on link below: https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241106:nRSF1485La&default-theme=true RNS Number : 1485L SulNOx Group PLC 06 November 2024 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310 6 November 2024 SulNOx Group Plc (the "Company" or "SulNOx") Trading Update: Q2 sales volumes up 343.6% on same period last year (Aquis Stock Exchange: SNOX) SulNOx, the Greentech innovation company helping industry reduce emissions, lower fuel costs and meet sustainability targets, is pleased to announce its second quarter trading update. Q2 2024 Trading Update (1 July to 30 September) Revenue · Unaudited Q2 2024 revenues of £237.4k up 343.6% on Q2 2023 (£53.5k) and up 16.9% on prior quarter (£203.1K). · Six months to date (1H) £440.5k against £135.7k in 1H 2023, a 224.4% increase. Volume · Total volume of product sold in Q2 up 1,181.6% on Q2 2023 and in line with record volumes in the prior quarter. · 1H volumes up 397.7% on 1H 2023. Cash balance · Unaudited cash balance on 30 September 2024 of £804.4k against £1,598.6k on 30 June 2024, reflecting investment in global stock levels and research and development. Trading highlights · Increased stock levels in all locations, notably Singapore, U.S., Netherlands and U.K., as well as stock introduced to Southern Spain and Gibraltar. · Marine sales and trials in Q2 moved ahead in line with management expectations as marketing focus was expanded to further industrial sectors. Operators purchasing or in trials totalled 39 by the end of Q2 with a combined fleet size of 4,536 vessels across multiple vessel types including container and cruise ships, and an encouraging level of repeat orders. Extended evaluations included Caspian Marine Services, offering a local demonstration of SulNOx innovation ahead of COP29 in Baku this month. · Inland, a generator-based study demonstrated a 14.5% fall in fuel consumption, with substantial reductions in both greenhouse gases and particulate matter. In Ghana, sales primarily to the automotive sector progressed into a second quarter with recurring volumes. · New patents for Indonesia, Chile, Singapore and Japan were granted in Q2 Radu Florescu, Chairman of SulNOx Group commented: "Against a background of further good progress in revenues and sales volumes, most encouraging is SulNOx demonstrating impressive fuel and emissions results in generators operating inland. This compelling data positions us well in major industries beyond marine, where we have seen early success, and reinforces the exciting partnerships we are developing across Africa to capitalise on significant land-based opportunities." ENDS For further information please contact: SulNOx Group plc steven.cowin@sulnoxgroup.com (mailto:steven.cowin@sulnoxgroup.com) Steven Cowin, CFO Allenby Capital Limited Tel: 020 3328 5656 (AQSE Corporate Adviser) Nick Harriss / John Depasquale This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NEXBFBFTMTAMMAI