Coatings World staff10.19.20
Applied Graphene Materials announced its full-year results for the year ended July 31, 2020.
Revenue: £0.08 million (2019: £0.05 million);
EBITDA: Loss of £3.08 million (2019: loss of £4.56 million)
Cash at bank: £3.68 million (2019: £6.13 million);
Basic EPS: Loss of 6.4 pence per share (2019: loss of 7.9 pence);
Adjusted EPS: Loss of 6.1 pence per share (2019: loss of 7.9 pence)
“We have seen a solid year of progress despite the global impact of the coronavirus. Whilst we have been able to maintain continuity of our long term testing and materials development, we have seen a slowing of customer volumes in our second half of the year," CEO Adrian Potts said. "We anticipate this to rebound as restrictions begin to be removed. Our technology platform for graphene nanoplatelet dispersions is ideal for the markets that we operate in and I am confident that we will see long-term success in each sector. Our technology is well-proven, graphene really works in these applications, and we have the keys to unlocking the performance of this remarkable class of materials.
"I am particularly excited about the appointment of high-quality distribution partners for our business. This will enable the presentation of the possibilities of graphene materials to a more comprehensive audience. I see the combination of expanded geographical presence, technical excellence and commercial astuteness through our distributor platform as a recipe for successful engagement with the broad set of opportunities anticipated," he continued.
"We are starting to see graphene come of age. It is my firm belief that the means of realizing the remarkable performance benefits that graphene nanoplatelets have to offer is in the successful integration of these materials into a range of host products to make them even better. Understanding materials technology, dispersion chemistry and end-use application are critical to a successful outcome on a customer-by-customer basis. I believe, in this regard, we are very well placed to reap the benefits of the substantial effort we have put in thus far to develop our product offerings and prove that graphene works in real applications," the CEO concluded.