Highlights
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Quarterly customer receipts of A$3.7m, down 5% on the prior quarter with the difference due primarily to timing of customer payments
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Gross Margins improved to 44% in the quarter reflecting improved efficiencies at Black Birch and Arden Hills facilities, as well as the sales composition of the product mix for the quarter
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Completion of US$500,000 prepayment to advance development of Joint Venture project, a state-of-the-art activated carbon plant in Kentucky, USA. Funds have been allocated to the purchase of longer lead-time items to commence the first phase of the plant’s construction
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Legal documentation to finalise the Joint Venture is nearing completion, with discussions progressing well in the March quarter
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Sales of Powdered Activated Carbon (PAC) were up 33% from the prior year comparative period, reflecting higher sales to multiple industrial customers. PAC sales declined by 15% q/q, reflecting overall warmer winter weather and lower demand for PAC as power plants operated at lower capacity levels.
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Sales of Activated Carbon Pellets (ACP) were down by 20% from a year ago and down 28% compared to the prior quarter. Both declines reflected our largest ACP customer operating at lower capacity levels due to warmer winter weather as well as lower than anticipated natural gas prices.
Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Appendix 4C Report for the March 2023 Quarter and provides the following update on the key areas of activity for the period (all numbers are in A$ unless otherwise stated).
For more information, download the attached PDF.
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