Applied Graphene Materials Reports Full-year Results

Applied Graphene Materials plc (LSE:AGM) released its results for the year ended July 31, 2015. CEO Jon Mabbitt said that the company made “excellent progress” during the period.
Financial highlights are as follows:

• EBITDA*                              Loss of £3.9 million (2014: loss of £2.3 million)
• PBTA**                                Loss of £3.9 million (2014: loss of £2.3 million)
• Loss before tax                    Loss of £4.0 million (2014: loss of £2.7 million)
• Cash at bank                       £4.7 million (2014: £8.5 million)
• Diluted EPS                         Loss of 22.9 pence per share (2014: loss of 17.9 pence)
• Adjusted diluted EPS           Loss of 22.4 pence per share (2014: loss of 15.3 pence)

* EBITDA comprises loss on ordinary activities before interest, tax, exceptional costs, depreciation and amortisation

** PBTA comprises loss before tax, exceptional costs and amortisation

Operational highlights include:

• Significant collaboration momentum including new named collaborations with Millers Oils and Puralube;
• The pipeline of identified opportunities for collaboration has broadened significantly;
• Over 120 evaluation samples provided to customers in more than 20 countries;
• More evaluation quantities were provided in the final quarter of the financial year than during the previous nine months combined;
• Two full week periods of 24 hour continuous running have been undertaken to support customer demands for graphene;
• First patent approval received from the Japanese Patent Office; and
• Positive data generated from independent coatings and oil trials

Click here to read the full Applied Graphene Materials plc (LSE:AGM) press release.