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Carbonxt Group - September 2023 Quarterly Activities Report


-- Revenue of $5.3m for the September quarter and customer receipts of A$4.6m – the latter being an increase of 93% compared to prior quarter - primarily reflecting a timing difference in orders from the group’s largest pellet customer.
-- Sales of Powdered Activated Carbon (PAC) increased 31% from a year ago which reflected higher demand from utility plants. Compared to prior quarter, PAC sales increased by 36% as the summer period continues and demand remained steady.
-- Several existing relationships extended their PAC contracts with higher pricing across the power generation, water filtration and industrial applications. One PAC contract has been increased by over $1.5m per annum.
-- Sales of Activated Carbon Pellets (ACP) increased by 26% from a year ago. The Finished Goods inventory decreased by $0.9m as ACP inventory for our largest customer was sold. Revenue of $1.2m was booked in the last two weeks of the quarter and cash received in mid-October 2023.
-- Construction of the flagship Activated Carbon production facility in Kentucky, USA continues to progress on schedule, with operations expected to commence in 1H of calendar 2024.

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