Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) is pleased to provide this Appendix 4C Report for the quarter ended 30 June 2021. All numbers are in A$ unless stated otherwise.
Highlights
• Considerable progress was made in the period encompassing manufacturing, sales, marketing and Research & Development (‘R&D’) activities.
• Customer receipts of $2.7m received in line with the prior quarter;
• Compared to the prior quarter, Powdered Activated Carbon revenue was up by 13% primarily reflecting utilities returning to pre COVID operating levels;
• AC Pellet revenue was down by 27% as a result of the decision to defer industrial pellet manufacturing as announced in April 2021. This has subsequently rebounded considerably in the current quarter;
• Cash outflows were $0.5m primarily due to the Company’s decision to reduce CTC pellet-related outstanding associated with the move away from high-priced thirdparty carbons;
• Accounts Payable at quarter end were reduced substantially by $0.6m to $1.5m;
• Net cash outflows from investing activities were $0.3m reflecting ongoing progress on several R&D projects detailed below.
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