Neill Ricketts of Versarien discusses their results which saw revenue increase by 34% including Graphene income up by 170%
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Neill Ricketts, CEO of Versarien #VRS discusses their results which saw revenue increase by 34% to £7.63m including revenues from Graphene up by 170% to £1.89m.
Financial Highlights
• Group revenues from continuing operations up 34% to £7.63 million (2021: £5.69 million)*
• Graphene revenues up 170% to £1.89 million (2021: £0.70 million)
• Adjusted LBITDA** for continuing operations reduced by 45% to £1.04 million (2021: £1.88 million)
• Reported loss before tax from continuing operations of £5.14 million (2021: £8.08 million)
• Reported loss for the period of £5.20 million (2021: £8.07 million)
• Cash of £3.10 million at 31 March 2022 (31 March 2021: £2.36 million)
Operational/Manufacturing Highlights
• Relocation to new dedicated graphene production facility in Longhope, Gloucestershire to significantly expand capacity
• 10,000 square foot floor slab laid for new Versarien innovation centre using the Company's CementeneTM and PolygreneTM enhanced concrete
• Acquisition of Spanish graphene manufacturing assets transferred to Longhope during the year and in process of commissioning to provide up to an additional 100 tonne powder capacity per annum
• Equipment to scale up graphene ink production capacity by an additional 12,000 litres per annum delivered and commissioned
Partnerships/Commercialisation Highlights
• Commercial agreement signed with Superdry to produce graphene enhanced garments and discussions ongoing with multiple other garment suppliers
• Grant agreement signed and project completed to support the development of Pseudo-Capacitor technology aimed at zero emissions for port-side infrastructure
• Successful on-time delivery of Defence Science and Technology Laboratory ("DSTL") contract within specification
• Royalty agreement signed with Gerdau S.A. for the distribution of graphene masks primarily in Latin America
• Collaboration signed with US-based Flux Footwear LLC, an adaptive footwear company, to supply graphene enhanced elastomers
• Launch of 3D printed concrete "Lunar" lifestyle pods using Cementene™, Versarien's graphene-enhanced cement
Funding Highlights
• £1.93 million strategic investment in Versarien by GrapheneLab Co. Ltd., South Korea, together with royalty and trademark agreements
Post Period Highlights
• Sports brand Umbro has announced it will integrate Versarien's Graphene-Wear™ technology into its "Elite Pro-Training Kit" range for the spring/summer collection 2023
• GoToGym in South America are launching active-wear incorporating Versarien's Graphene-WearTM technology
Disclaimer & Declaration of Interest
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