24 February 2021
.This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Haydale (AIM: HAYD), the global advanced materials group, announces its unaudited interim results for the six months ended 31 December 2020 (the ‘Period’ or ‘H1 FY2021’).
The full results are available to
- Group Revenues of £1.28 million for the Period, 5% down on H1 FY2020;
- Sales of functionalised inks and graphene enhanced composites increased by 35% to £0.34 million on a like-for-like basis;
- Adjusted administrative expenses fell by 22% with a saving of £0.72 million on the prior half year;
- Adjusted operating loss for the Period reduced by 34% (H1 FY2021 £1.39 million vs H1 FY2020 £2.1 million);
- A reduction in Cash Used in Operations of £1.26 million or 50% on a LFL basis (H1 FY2021 £(1.26) million vs H1 FY2020 £(2.52) million); and
- Cash at Period end of £1.88 million (30 June 2019: £2.70 million)
- Agreement with Qinhuangdao ENO High-Tech Material Development Co., Ltd., to act as a sales representative for Haydale’s ceramic and silicon carbide products in China;
- Ahead of schedule on the three-year exclusive agreement with iCraft announced in September 2020 with 0.4 tonnes being shipped by the Period end and further orders pending of 1.6 tonnes for H2 FY2021;
- Completed a successful trial of CeramycShield™, a ceramic surface treatment that utilises SIC to enhance and protect concrete assets, at a Central American water treatment facility;
- Commercial progress with elastomers now evident following first sale to Bolflex of our functionalised nano-enhanced rubber masterbatch for use in its premium shoe range. Follow up orders are scheduled for H2 FY2021; and
- In collaboration with a leading biosensor technology company, developed a next generation functionalised biomedical ink with improved analyte detection which enhances detection and the accuracy of diagnosis.
Commenting on the interim results, Keith Broadbent, Chief Executive Officer of Haydale, said:
"Whilst these results reflect a challenging Period, the operational changes and strategic progress made since 2019 and accelerated through the last nine months have put the Group in a stronger position to manage the impact of Covid-19. As we project forward to a time beyond the pandemic, we believe our patented HDPlas® plasma process puts Haydale in a strong position to deliver functionalised graphene and other nano materials cost effectively, at a consistent quality and at industrial volumes”.
For further information:
|Haydale Graphene Industries plc|
|Keith Broadbent, CEO||Tel: +44 (0) 1269 842 946|
|Gemma Smith, Head of Marketing||www.haydale.com|
|Arden Partners plc (Nominated Adviser & Broker)|
|Ruari McGirr / Paul Shackleton / Ben Cryer||Tel: +44 (0) 20 7614 5900 |
Notes to Editors
Haydale is a global technologies group and service provider that facilitates the integration of graphene and other nanomaterials into the next generation of industrial materials and commercial technologies. With expertise in graphene, other nanomaterials and Silicon Carbide, Haydale is able to deliver improvements in electrical, thermal and mechanical properties,. Haydale has been granted patents for its technologies in Europe, USA, Australia, Japan and China and operates from five sites in the UK, USA and the Far East. For more information please visit: www.haydale.com or Twitter: @haydalegraphene
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.