RNS Number : 6300Y
Acta S.p.A.
28 January 2014
Press release 28 January 2014
Acta S.p.A.
("Acta" or "the Company")
Trading and business update
Acta S.p.A. (AIM: ACTA), the clean energy products company, announces a trading and business
update ahead of the publication of its results for the year ended 31 December 2013.
update ahead of the publication of its results for the year ended 31 December 2013.
Current Trading
-- Rapid development in customer trials for the Acta Power system with strong levels of commercial interest
system with strong levels of commercial interest
-- Five Acta Power units sold: two tested, approved and installed on live sites for final evaluation, two tested and approved with live site evaluation due to commence shortly and one being used for demonstration purposes
-- CE Certification for the Acta Power secured ahead of year-end, in readiness for commercial roll-out
-- Larger "network evaluations" of the Acta Power system are currently under negotiation. Initial network installations are expected to be typically of 50 to 150 units per customer network with up to 50 units in the first call-down
are currently under negotiation. Initial network installations are expected to be typically of 50 to 150 units per customer network with up to 50 units in the first call-down
-- Based on the timing indications received from Acta's partners, it is anticipated that the first telco approved product certifications for the Acta Power will be granted early in the second quarter of 2014, with network evaluation contracts to follow shortly thereafter
-- Further expansion of Acta's production facility underway targeting capacity of 40 Acta Power units per month for H2 2014
-- 2013 revenue is expected to be in excess of EUR400,000, well ahead of comparable revenues from products and research services in 2012 (EUR233,000), despite slower than forecast sales conversions
-- Expected operating loss in the region of EUR1.2 million (including share option cost reversal of EUR2.4 million as previously announced)
reversal of EUR2.4 million as previously announced)-- Year end cash of EUR2.1 million
Summary and Outlook
Paolo Bert, Chief Executive Officer, commented:
"The launch of the Acta Power system in 2013 has been a significant milestone for the Company and has enhanced Acta's brand profile in the marketplace and greatly increased its commercial opportunities. The system performs well and is gaining recognition for the unique benefits that it offers. Customer evaluations and system trials are proceeding with considerable success, notwithstanding delays due to customer installation procedures and logistical requirements.
and has enhanced Acta's brand profile in the marketplace and greatly increased its commercial opportunities. The system performs well and is gaining recognition for the unique benefits that it offers. Customer evaluations and system trials are proceeding with considerable success, notwithstanding delays due to customer installation procedures and logistical requirements.
The Company's key activities now range across the back-up power and renewable energy storage sectors together with electrolyser sales into a number of different applications. We continue to focus on high volume applications with strong economic drivers, and believe that the coming year will see substantial progress in the adoption of our products through our growing network of customers and commercial partners."
The Preliminary Results announcement is expected to be made on or around 26 March 2014.
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