CyanConnode Holdings PLC 1H'22 update: strong shipments and cash inflows
20 Octubre 2021 - 01:30AM
RNS Non-Regulatory
TIDMCYAN
CyanConnode Holdings PLC
20 October 2021
Hardman & Co Research:
CyanConnode (CYAN): 1H'22 update: strong shipments and cash
inflows
Alongside the multiple new contracts signed in fiscal 1H,
CyanConnode's smart meter intelligent module shipments continued to
accelerate during the period. 315,000 modules were shipped, versus
92,000 in the same period last year and 481,000 for the entirety of
FY'21. 1H'22 revenue came in at GBP4.1m, almost three times the
comparative 1H'21 figure of GBP1.5m. The potentially immense market
opportunity is starting to translate into large orders,
accelerating shipment volumes, exceptionally strong revenue growth
and cash inflows - GBP3.8m was received from customers during the
period, resulting in GBP1.7m net cash at end-September 2021. Our
updated DCF-implied fair equity value for CyanConnode is
GBP89.6m.
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October 20, 2021 02:30 ET (06:30 GMT)
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