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Applied Graphene Materials, the producer of specialty graphene materials and dispersions, announces its full year results for the year ended 31 July 2020.

Operational and commercial highlights

• Excellent commercial progress made, with a number of major customer projects advancing throughout the year towards completion and product launch. The impact of coronavirus has caused some delays to customer projects however, our development pipeline continues to grow
• Customer product launch highlights with " G enable ® Inside" include:
  • Blocksil - introduced Top Coat MT anti-corrosion paint system
• Sales distribution network expansion - AGM has signed a number of significant new distribution agreements
  • Maroon Chemicals Group - USA and Canada
  • Arpadis - UK, Germany, France, Spain, Portugal and Scandinavia
  • Will & Co - Benelux
  • Dichem - Greece
• AGM continues to grow its IP portfolio with the progress of several graphene dispersion technology based patents
• Development and launch of the G enable ® 1400 series of dispersions, a cost-effective range of products offering outstanding barrier performance
• Development of production scaling for dispersions manufacture - continuous commitment to build production scale platform for the range of dispersions we manufacture

Financial overview

• 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)

* EBITDA comprises loss before interest, tax, exceptional costs, depreciation and amortisation.

Post year end

• AGM has signified its intent to commit to signing up to the UN Global Compact in the near future
• Infinity Wax launched its Graphene QDX detailing polish for the car care market
• Kent Europe GmbH launched its aerosol anti-corrosion primer
• Halo Automotive / EZ Car Care launched its graphene enhanced car wax for car care market
• Launch of Innovation Accelerator programme
• AGM shares commenced trading on the OTCQB Venture Market in the United States

Adrian Potts, Chief Executive Officer, commented:

"We have seen a solid year of progress despite the global impact of 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. 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.

"We are starting to see graphene come of age. It is my firm belief that the means of realising 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 is 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."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Applied Graphene Materials' results presentation, with audio commentary, is expected to be made available on its website at http://www.appliedgraphenematerials.com in due course.

 

For further information, please contact:

Applied Graphene Materials	+44 (0) 1642 438 214
Adrian Potts, Chief Executive Officer David Blain, Chief Financial Officer
N+1 Singer	+44 (0) 207 496 3000
Peter Steel / Amanda Gray
Hudson Sandler	+44 (0) 207 796 4133
Charlie Jack / Emily Dillon

 

Notes to Editors

For the last decade, Applied Graphene Materials has been at the forefront of harnessing the possibilities of graphene. Founded originally by Professor Karl Coleman, the Group has grown from an academic idea from Durham University to a world leader in the development and application of graphene nanoplatelet dispersions for customers in the coatings, composites and functional materials sectors.

The Group utilises its proprietary bottom-up manufacturing process to produce high purity graphene nanoplatelets. Their expertise in dispersion chemistry enables the Group to create optimised, stable and easy to handle dispersions that customers use in real-world industrial products. The Group's unique approach enables industries to fully realise the potential of graphene in a simple, safe and easy to formulate way.  

The Group, based at the Wilton Centre on Teesside, was admitted to AIM in November 2013, raising £11 million. The Group successfully raised £8.5m in January 2016 and a further £9.8m in November 2017. Since August 2020, the Group's shares are also listed on OTCQX in the United States. As a result of the funding support and their industry leading technology platform, the Group has been able to develop a significant sales distribution network covering Europe, North America and a partner in Japan. The Group continues to work closely with industrial partners, and have seen the successful launch of numerous commercial products enhanced by their Graphene Dispersions.