CAP-XX (LSE:CPX) — Interim results for six months ended 31 December 2025

0:00 Good morning, and welcome to the CAPEX Limited Interim Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. In today's meeting, the company will not be addressing questions. Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO Lars Stigmann. Good morning to you, sir. Thank you, Alex. Great to see the audience. Good morning. Dear shareholders, good morning. Dear ladies and gentlemen, my name is Lars. Sorry. My name is Lars Stigmann. I'm the CEO of CAPEX. Welcome to our interim results first half to the fiscal year twenty twenty six. Welcome. Also, good evening to Anthony Guaner, our interim CFO.

0:49 He will join us today out of Sydney, this meeting. I have no control about my no. Good. To guide you quickly through the content, we would start with the revenue highlights. As promised, to give you a product update on the product lines, snapshot on our distribution network, our new products, the applications, the market we are into, as well as a real data real time data snapshot about our figures before I hand over to Anthony who guide you through all our financial highlights, and then I take it back and summarize our presentation for today.

1:43 Coming with the financial highlights. As as you see, we are on the right path. We grow again. We did it. Plus 9% in revenue. We grow in bookings even stronger, plus 31%, and increase our buck backlog in this period of time, plus 132%. So remember, the booking and the backlog will be the future revenue. The new CAPEX, since I started in 2023, has grown with more than 60% in revenue. We had been able in the same time period to reduce the loss to improve these by 40%.

2:30 End of December twenty twenty five, we had AUD 2,500,000 cash on hand. Additional debits exceed creditors AUD 300,000. As promised in October 2025, we update our product line. And as you see now on the right hand side, you see the new SMT family and as well a new product line which called module. As a snapshot on our distribution landscape, very often, we got the question, what is a master distributor?

3:18 To answer this first, the master distributor only serve distributions. They don't have any context to our OEM or our direct customer for design in. So their main business is to support our distribution network. In this case, company Walden is our master distributor. They place their order in box to make sure that the products available to serve to the market, they drive their own logistic and storage center. Out of the region, they able to support the distributor landscape like you see in our pyramid on the right hand graphics. They have their own sales and technical support to help our distributors to win new project to serve their customers on demand.

4:10 All this helps CAPEX to enter a new market and enter and find new distribution, distributors worldwide. To give you another snapshot, I would like to highlight Digi Key. Now online, you see they show 40 products from CAPEX active, launched, available in, on their website. These parts are physical physically available in The US. So ready to ship, ready on the demand of the market. On the right hand side, again, Walden just to show that they have and serve 42 prod products in their web shop.

4:59 And more important, they have it on the green stock, which underlines that our product is environmental ready ready and ready to replace any kind of battery systems. As mentioned before, our partnership, our strong partnership with the Switzerland company Schroter, and remember, they operate in more than 14 different countries on a global base. This gives us access to their customer base, which are more than 100,000 active customers. And they serve it with more than 200 sales guys on the road. These 200 sales guys, it's a it's a massive support for CAPEX.

5:47 And also remember, shorter sales is CAPEX sales. It's not a license fees, so we don't have any competition in the market. We produce these part as CAPEX. We print label for shorter and ship them through shorter to the customers. So all on this, it's it's a well established system. And together together, we will build a strong sales pipeline in in the market. On the right hand side, you see the latest marketing activities from Schutter. They shows, the complete solution for medical and laboratory, diagnostics devices. And as you can see in the green cycle, the highlighted supercapacitor there as well.

6:39 You very often hear the name SMT as on our production product line card. SMT stands for surface mount technology, and our current product, our current prismatics supercapacitor is already SMT as a soldering process, in this case, hand soldering or semiautomatic. The new SMT product is ready for pick and place and run through the reflow oven soldering press and process in the fully automated line. With this new product, we are able to meet the demand for high production, for high volume at our customers. This production is scalable and expendable in any case of needed. And further, it allows us to ex for further expansion to avoid any geopolitical tariffs in the future.

7:40 The first fully automatic production line will restart in Seven Hills in in Australia. So as I told you in October 2025, the first negotiation started to fur further visits with our suppliers is done. So we are in our timeline at the moment. And of course, very often, get the question about further patents. This is underway under the way. And until we get the final results, we will continue to apply for further patents here and keep you informed as well. As you saw as a new product line is a module, this module allows us and is ready for any industrial application.

8:32 So now we are able to target targeting grid stabilization as well as data centers. Remember, the artificial intelligence is very energy hungry, so this kind of technology has a high request. So with these kind of modules, we are ready to replace any kind of battery system in the industrial production lines. Our modules are more reliable and more important for further costs, a service free. The battery is not service free. So this leads us to the market sector wherein we continue with the handheld devices, of course, industrial IoT as well as health care.

9:21 New, as I told you last year, is the aerospace and defense market. We are here in the approval process for several applications. And in addition, now with the modules, are able to enter in the energy supply market as well as to serve data set centers on their demand. So all these kind of different market helps us to balance our risk and may build a solid sales pipeline. So it's not a single product, not a single market. We are able to serve both the high end and the commodity market to reduce our risk in production. Very off New Year, our new system, which we had successfully implemented in a very short time. And here, this is a snapshot where you can see that month by month, we exceed better than in the former half year 2025.

10:23 On the right hand side, you see the graphs, the cumulated figures based on bookings and billings. So on the green graph is the actual graph on, from first half fiscal year twenty twenty six, and you see the nice, pike in December, which was, really rocket high. Now I would like to hand over to my colleague, Anthony. And Anthony will guide you through the financial highlights. Anthony, over to you. Thank you, Lars. And likewise, everyone, I'd like to welcome you to this CAPEX investor presentation. My name is Tony Wana. And as some of you may recall, back in June 2025, I was appointed the interim CFO of CAPEX.

11:11 I've learned a lot about CAPEX, its people, its technology, and I feel honored to be part of this innovative company. Today, I will present to you some of the financial highlights from the half yearly results for ending 12/31/2025, which have been released today. Just move that slide. Okay. On the screen, you will see some of the key metrics extracted from those half yearly risk financials. Let's begin with revenue. CAPEX, like the entire global industry, has gone through a difficult time over the last few years. But pleasing, you will see from the top chart that CAPEX revenue continues to be on the increase.

11:58 That chart shows that over the past three and a half years, revenue has progressively increased. At the 06/30/2025 annual annual report presentation, I reported that CAPEX revenues had increased by 7.6% over FY '24. And in the last six months, revenues have increased by a further 9%. We are delighted to see the positive increase in the top line when many others many other companies across the industry have had a flat or reduced top line. We are delighted the bottom chart illustrates what's been happening to the CAPEX loss. It's on a downward trajectory.

12:45 This reduced loss stems from our implemented cost controls activities and company wide transformation, which have now both beginning to bear fruit. Our reported loss and EBITDA are significantly reduced compared to the previous periods. This is a significant result. Whilst f y twenty five was our operational transformational year where we strove towards manufacturing excellence, implemented key critical software to oversee manufacturing drive profitability, and provide real time data is now that those transformation activities are starting to show results. And with continued refinement of those activities, our EBITDA loss and net loss continue to improve.

13:34 Revenue is positively heading upwards whilst our costs are reducing, resulting in a downward trend for our losses. Both of these key financials are trending in the right direction. There is more to come. At the end of December, we had 2,900,000 in cash. No debt, and our systems are ready. Now let's have a look at revenue. This slide shows that our global revenue profile from 2023 to this current year and our gradual shift from heavy European reliance to now in f y twenty five there where you'll you'll note a more even balance between APAC and European revenue. And revenue from The Americas has also increased this year.

14:21 In f y twenty five, we made a number of RNS announcements regarding our strengthening distributor relationships, the upside of which will flow into this current financial year and beyond. With seven months now completed in this financial year 2026, I'm pleased to share that our bookings have increased by 22.3% over the same period in f y twenty five. Billings are already up 4.2%, and additionally, we have a further backlog of 2,800,000. The pie chart on the bottom right hand side of the screen illustrates the sales into into Europe have picked up this year. I like this slide as it shows that CAPEX is doing the right thing.

15:10 If you have a look at the orange bars, you will see that they have increased period on period over the last three and a half years. That's revenue, and it's going up. Perfect. The blue bars indicate that CAPEX loss, and it's generally been reducing. Just this last six months, revenue has increased by 9%, and our net loss decreased by 9%. So these two critical financial metrics are trending in the right direction, and we are heading towards a positive cash flow. The board and management of CAPEX are feeling very confident about our financial direction. This brings me to the first half of FY twenty six cash bridge slide, which shows improved cash stewardship.

15:58 Our net operating outflows have reduced compared to first half of f y twenty five, largely due to the receipt of the r and d tax refund. But even if you factor this out, comparatively, our net cash outlay, given the large payments that were made in July 2025, has improved. At the end of December twenty twenty five, we had $2,900,000 in cash. Thank you, everyone. And with that, I'd like to pass you back to Lars to summarize and close. Thank you, Tony. Great summary. Let me summarize these results a little bit, this presentation. So as Tony mentioned, the total revenue was 2,500,000 is an increase of plus 9%.

16:51 The booking was 400,000 Aussie dollars is increased year over year by 31%. The billings has an increase year over year by plus 14%. So the backlog has an increase year over year with a plus of 132%. This is a great achievement and gives us a future revenue very soon. Loss of tax has improved by 9%. The EBITDA loss has also improved by 7%. So cash on hand end of the month calendar year 2025 was 2,900,000 Australian dollars. Debiters exceed credits.

17:40 It's a did additional 300,000 Aussie dollars. Just to remind you, the company is debt free. And in the morning, I got a couple of emails which asked me about our legal cases. And just also here, a reminder, we close all legal cases in fiscal year twenty twenty four. So no debt, no legal cases open. Transformation is not done overnight. It's clear. So we are on a good progress in new CapEx. We show you the improved warehouse management system. And just to remind and answer also here some questions, the warehouse management system is not a demand.

18:28 It is that growth changed the game also for CAPEX and without any financial visitabilities, you're making big decision blind and we are on this on the right way. So these new new warehouse management systems, this new software increase the transparency and CAPEX. It's an ongoing improvement in our operation, which helps us to increase our efficiency on the floor. Our strong partnership I mentioned before gives CAPEX a stronger visibility and a stronger voice in the market of the electronic components. And all of these growth, despite of a challenging market, we are at the moment are all in.

19:20 CAPEX shows that we are on the right path. So all in all, in summary, it's a strong start in fiscal year twenty twenty six, and we are really looking for the second half will be very successful. Please let me take this opportunity to thank you very much to joining this call. We appreciate your time. Thank you. That's great, Lars. Anthony, thank you very much indeed for updating investors today. Could I please ask investors not to close this session as you'll now be automatically redirected to provide your feedback in order that the board can better understand your views and expectations? This will only take a few moments to complete, and I'm sure it be greatly valued by the company. On behalf of the management team of CAPEX Limited, we would like to thank you for attending today's meeting, and good morning to you all.