Half Yearly Report and Accounts

Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Half-year report.

Results for announcement to the market

Dividends

There were no dividends paid, recommended or declared during the current financial period.

Comments

The loss for the Group after providing for income tax amounted to $3,368,165 (31 December 2022: $2,664,912).

Revenues decreased 5.5% compared to 1H23 primarily due to reduced supply to the largest Activated Carbon pellet customer due to plant outages at that customer's facility.

The directors consider Underlying Earnings Before Interest, Tax, Depreciation and Amortisation (‘EBITDA’) and Underlying EBIT to reflect the core earnings of the Group. Underlying EBITDA and underlying EBIT are financial measures which are not prescribed by Australian Accounting Standards (‘AAS’) and represent the profit or loss under AAS adjusted for non-cash and significant items.

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