Carbonxt Group Limited Announced FY22 Results

Revenue, Margins, and Operation Costs

Carbonxt reported annual sales of A$18.4 million (up 49% from FY21). Carbonxt’s total revenue increased by 49% from A$12.3 million in FY21 to A$18.4 million in FY22.

CARBONXT has an annual gross margin of 34% (an increase of 28% over 2011’s annual gross margin). The increase was due to improved operations and better sales driven by higher customer demand. In addition, higher natural gas prices in FY22 were also due to increased sales as customers lowered their operations in favor of higher prices.

Shipping costs as a percentage of sales fell to 9% in FY22 (compared to 11% in FY21). This decrease was due to increased demand from customers closer to the Carbonxt facility. Total operating costs were A$5.1 million, down 16% year-on-year due to the implementation of the cost reduction program.

Activated Carbon Pellets:

Sales of activated carbon pellets increased 87% compared to the fiscal year 2021, accounting for 70% of total revenue and 55% of total sales volume. Carbonxt supplies more than 4,000 tonnes of activated carbon pellets to the company’s largest customer (compared to 1,600 tonnes in FY21).

Powdered Activated Carbon:

Sales of flat activated carbon powder from FY21, accounting for 30% of total sales and 45% of total sales. In January 2022, Carbonxt began shipping to industrial companies. According to the contract, the amount will increase by 3,000 tons per year. To support this demand, the PAC facility is switching to 24-hour shifts in the spring of 2022.

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