1H'22 update: strong shipments and cash inflows

RNS Number : 5881P

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 £4.1m, almost three times the comparative 1H'21 figure of £1.5m. The potentially immense market opportunity is starting to translate into large orders, accelerating shipment volumes, exceptionally strong revenue growth and cash inflows - £3.8m was received from customers during the period, resulting in £1.7m net cash at end-September 2021. Our updated DCF-implied fair equity value for CyanConnode is £89.6m.

Please click on the link below for the full report:

https://www.hardmanandco.com/research/corporate-research/cyanconnode/

If you are interested in meeting the company, you can register your interest by clicking on the above link

To contact us: Hardman & Co 1 Frederick's Place London EC2R 8AE www.hardmanandco.com Follow us on Twitter @HardmanandCo

Contact: Milan Radia [phone]

[e-mail]

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors,   and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.

 

END

 

 

NRAMZMMGNLFGMZM