CG1 – Carbonxt Group | Aussie Stock Forums

28 February 2020
Carbonxt Group Limited – 1H20 Results
Carbonxt Group Ltd (ASX:CG1) has released its half year results for the period ending
December 31, 2019 – all numbers are in A$.
Overview
1H20 % Change on 1H19
Revenues ($) $8.40m -3%
Gross Margin ($) $2.84m +391%
Operating Expenses $3.49m -27%
Underlying EBITDA ($0.66m) +87%
• Revenue of $8.4 million was broadly in line with 1H19.
• Strong growth in higher margin activated carbon Pellet sales (+18.8% on 1H19), a market
segment offering significant future growth opportunities.
• Powdered activated carbon sales were down -22.3% on 1H19, reflecting temporarily
depressed power plant operations for certain customers.
• Gross Profit improved by 391%, reflecting the benefits gained from operating from our own
facilities now economies of scale are being achieved.
• Cash operating expenses decreased by 27% on 1H19, primarily reflecting significant
operating efficiencies within the activated carbon pellet segment, and led to an underlying
EBITDA improved of 87%, with 2Q20 reaching breakeven.
• The Company has continued to experience sustained YoY improvements in Operating
Cash Flow (+45% on 1H19), and is focused on executing a growth strategy centred on the
activated carbon Pellet market.