Full Year Results
10 October 2017
Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2017.
The full results are available to
- Successful acquisition of USA based Advance Composites Materials ("ACM") for US$5.2 million offering a strategic base in the USA and sales revenues of advanced materials products
- Acquisition of Thai based Innophene and set up of R&D facility and sales support for Far East customers
- Successful commissioning of plasma reactors at strategic supply chain partner AMG Mining for future production of volume masterbatch into the composite market
- ACM signs a four-year agreement to supply silicon carbide micro-fiber ("SiC") to a global industrial manufacturer of tooling and wear-resistant solutions with a potential sales value of over US$2.6 million
- Successful project completion with GKN and Cobham to produce an Airbus Aileron with over 600% increase in electrical conductivity to combat lightning strike; and
- Development of three graphene pre-impregnated carbon fibre composite panels demonstrating significant uplifts in thermal conductivity (management of heat), electrical conductivity and mechanical properties.
- Strategic investment in Haydale of £3.26 million by Everpower International Holdings Co Ltd, which acquired a 9.9 per cent. shareholding
- Total income increased over 100% year-on-year to £3.9 million (2016: £1.92 million)
- Loss after tax of £4.75 million (2016: £3.64 million)
- Investment in R&D increased to £1.15 million (2016 £0.94 million)
- Cash at the year-end £2.09 million (2016: £2.86 million)
Post Period End Highlights:
- New Non-Executive Chairman, David Banks, appointed in July 2017
- Creation of two Strategic Business Units (SBU) focussing on sales growth in Resins, Polymers and Composites (RPC) plus Advanced Materials including recruitment of experienced MD, Keith Broadbent to head up the RPC SBU
- Formation of Taiwan operation focussed on supply of speciality inks for the high growth screen-printed bio medical test strip market with immediate sales visibility following a dozen sales orders for test products
- Extended SiC contract with major Japanese customer Tateho increasing group sales orders to £6.0 million
- Positive test results on graphene nano platelets loaded Flowtite Technology AS glass fibre reinforced plastic ("GRP") pipes leading to second corroborative tests set for early 2018. The programme is set to develop the next generation GRP pipe systems for water and sewerage applications; and
- Testing of GNP coated cookware by leading Korean manufacturer aiming at product launch in spring 2018.
Commenting on the results Ray Gibbs, CEO of Haydale, said:
"This has been a year of considerable developments at Haydale as the Group has moved from being R&D focused to a commercial entity with focus on repeatable revenues of our advanced materials in both Graphenes and our specialist Silicon Carbide micro fibre product. We are at the inflexion point in our evolution having built a global presence serving locally the key markets of the Far East and USA. We have grown total income by 100% and with the recent overseas investments and emphasis on increasing sales, we look at the current financial year with much optimism having built the foundations for the Group to achieve its long term strategic objectives."
For further information:
|Haydale Graphene Industries plc
Ray Gibbs, Chief Executive Officer
Matt Wood, Finance Director
Trevor Phillips, Head of Communications
|Tel: +44 (0) 1269 842 946
|Cairn Financial Advisers LLP (Nominated Adviser)
Tony Rawlinson / Emma Earl
|Tel: +44 (0) 20 7213 0880|
|Arden Partners plc (Broker)
Ruari McGirr / Benjamin Cryer (Corporate Finance)
Fraser Marshall (Corporate Broking)
|Tel: +44 (0) 20 7614 5900|
Henry Harrison-Topham / Jamie Hooper / Gemma Mostyn-Owen
|Tel: +44 (0) 20 7466 5000
Notes to Editors
Haydale is a global technologies and materials group that facilitates the integration of nanomaterials into the next generation of commercial technologies and industrial materials. With expertise in graphene, silicon carbide and other nanomaterials, Haydale is able to deliver improvements in electrical, thermal and mechanical properties, as well as toughness. Haydale has granted patents for its technologies in Europe, USA and China and operates from six facilities in the UK, USA and the Far East.
For more information, please visit: www.haydale.com
A copy of this preliminary statement will be available to download on the Group's website www.haydale.com. Copies of the Annual Report and Accounts, together with the notice convening the annual general meeting, will be posted to shareholders in due course at which time the Annual Report and Accounts will be made available to download on the Group's website, www.haydale.com, in accordance with AIM Rule 26.