Post period end trading update
19 July 2022
Haydale, (AIM: HAYD), the global advanced materials group, announces a trading update for the year ended 30 June 2022 (the "Year" or "FY2022").
The Group now anticipates, subject to audit, announcing revenues for the Year ahead of prior expectations at approximately £2.90 million with gross profit of approximately £1.74 million and LBITDA marginally behind prior guidance at £3.35 million. Capital Expenditure in the Year was £1.00 million and Year end cash stood at £1.19 million.
As previously indicated, the commercial momentum from the second half of the Year is expected to accelerate into the new financial year with both an increased customer and product portfolio contributing to this. Against this increase, the annualised impact of the investment in sales, marketing, quality and production resource during FY2022 alongside the inflationary cost pressures we are seeing at our operating units will partly offset the expected uplift in revenue at the LBITDA level. We anticipate that the current year LBITDA will be smaller than FY2022 but not to the extent previously expected.
Notwithstanding this, with the significant increase that the HT1400 has delivered to the Group's functionalisation capacity combined with the investment made in human capital the Board remains confident that it has the fundamental building blocks in place to take advantage of the commercial traction it is seeing. The Board remain confident in the medium and longer term prospects for the Group.
For further information:
|Haydale Graphene Industries plc|
|Keith Broadbent, CEO|
Mark Chapman, CFO
|Tel: +44 (0) 1269 842 946|
|finnCap (Nominated Adviser & Broker)|
|Julian Blunt/Edward Whiley, Corporate Finance Andrew Burdis, ECM|| |
Tel: +44 (0) 20 7220 0500
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 East Asia. 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.