CAP-XX Limited, a world leader in supercapacitors and energy management systems, has provided a trading update for the first half of the financial year ending June 30, 2024. Sales for this period are expected to be 35% higher than the previous year, driven by strong product sales. Order intake for the first half of FY24 was also up by over 30% compared to the prior year. The company has maintained a positive book-to-bill ratio of 1.12, indicating a healthy level of orders received compared to units shipped and invoiced. The order backlog has increased by 26% compared to the prior year.
The strong operating performance can be attributed to the operational reorganization of the sales team, a renewed focus on customer relationship management, and the recommencement of key projects. CAP-XX plans to continue focusing on maximizing sales and delivering profitability through its current product range and strong portfolio of intellectual property.
In the second half of FY24, the company expects an increase in production of the new DMH product and a contribution from the new distribution network. However, the patents announced on December 7, 2023, are not expected to drive contribution until the end of calendar year 2024.
Overall, CAP-XX Limited is experiencing strong sales growth and order intake, supported by operational improvements and a focus on customer relationships. The company is optimistic about its current product range and expects further growth in the second half of FY24 with the introduction of new products and distribution channels.