Today’s AGM Statement from CAP-XX Limited (LON:CPX), one of the world leaders in designing and manufacturing supercapacitors and energy management systems, noted that it is suffering industry wide supply chain bottlenecks, especially in China.
It also noted that apart from increasing pessimism over the state of the global economy, there is a global shortage of integrated circuits.
Accordingly, the start of the £18.6m capitalised company’s financial year has started somewhat slower than had been anticipated.
However, the company remains optimistic about its short-term and long-term growth prospects.
The Australian-based group reports that sales of its new products continue to grow strongly, while shipping of the group’s new Ioxus modules for a ship propulsion project are now underway. This should make a significant contribution for this year and next.
New product just launched
The group has also just announced the launch of its smallest ever 5mm cylindrical supercapacitor to provide high performance at low cost for Internet, medical and other space-constrained and mission-critical electronic devices.
High-power and high energy store
The unique feature of CAP-XX supercapacitors is their very high-power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics and deliver similar benefits in automotive and other transportation applications.
Supercapacitors can handle peak power events, supporting batteries and energy harvesters configured to provide low-power current at maximum efficiency. This architecture allows designers to use smaller, cheaper, low-power batteries and extend their run-time and cycle life or use intermittent ambient energy sources such as solar photovoltaic.
They also enable ultra-quick device charging and wireless power transfer, and provide the backup needed for graceful shutdown and “last gasp” transmissions in mission-critical applications.
Analyst Opinion – ‘fair value of 13p’ on shares, now 3.80p
Analyst David Johnson at Allenby Capital has already allowed for a ‘slowing down’ in the current year to end June 2023, expecting sales of A$ 8.1m (A$10.6m) to take the group into a A$0.6m loss (A$2.1m profit).
He has an increase in sales for the coming year to A$13.0m and a bounce back to a A$2.1m profit, backing up his unchanged ‘fair value’ of 13p for the group’s shares, which today are just 3.80p.