CERAMIC FUEL CELLS LIMITED
Sales Revenue from Customers up 42%
CFU - 2008 Preliminary Financial Results - Mr Brendan Dow, Managing Director
Thu, 28 Aug 2008 10:00AM
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Mr Brendan Dow
Thu, 28 Aug 2008
10:00AM Australia/NSW
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CERAMIC FUEL CELLS LIMITED (CFU)
ASX code: CFU,CFU
Website: http://www.cfcl.com.au
Industry: Capital Goods,Electrical Components & Equipment
Principal Activities:
Fuel cell technology.
Address:
, , 170 Browns Road,
NOBLE PARK
VIC
Phone: 61 3 9554 2300
Fax: 61 3 9554 2910
Executives & Directors
Mr Jeff Harding , Chairman, Director
Mr Brendan Dow , Managing Director
Dr Peter Binks , Non Exec. Director
Mr John Dempsey , Non Exec. Director
Prof. Michael Dureau , Non Exec. Director
Mr Robert Kennett , Non Exec. Director
Mr Tony Sherburn , CFO
Mr Andrew Neilson , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
CERAMIC FUEL CELLS LIMITED (CFU) Events
| Company (Stock Code) | Date/Time | Event |
Timezone: Australia/NSW |
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Tue, 9 Jun 2009 11:15AM |
Ceramic Fuel Cells BlueGen Product Launch |
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Fri, 22 May 2009 01:00PM |
CFU - BlueGen Product Launch - Mr Brendan Dow, Managing Director |
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Wed, 1 Apr 2009 10:00AM |
CFU - Nuon Project Update - Mr Brendan Dow, Managing Director |
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Mon, 2 Mar 2009 10:00AM |
CFU - Interim Results and Fundraising - Mr Brendan Dow, Managing Director |
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Fri, 30 Jan 2009 11:30AM |
CFU - Quarterly Report and Company Overview - Mr Brendan Dow, Managing Director |
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Wed, 26 Nov 2008 05:00PM |
CFU - Chairman’s Address 2008 Annual General Meeting - Mr Jeff Harding, Chairman, Director |
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Fri, 24 Oct 2008 01:05PM |
CFU - Quarterly Update - Mr Brendan Dow, Managing Director |
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Thu, 28 Aug 2008 10:00AM |
CFU - 2008 Preliminary Financial Results - Mr Brendan Dow, Managing Director |
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Wed, 23 Jul 2008 04:45PM |
CFU - Quarterly Business Update - Mr Brendan Dow, Managing Director |
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Tue, 1 Jul 2008 04:30PM |
CFU - Noble Park Site Tour- Mr Brendan Dow, CEO |
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Mon, 5 May 2008 10:00AM |
CFU - Ceramic Fuel Cells Limited to Raise £7.0M - Mr Brendan Dow, CEO |
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Thu, 24 Apr 2008 05:20PM |
CFU - Quarterly Update - Mr Brendan Dow, CEO |
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Tue, 4 Mar 2008 08:45AM |
CFU - Interim Results and Company Update - Mr Brendan Dow, CEO |
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Wed, 27 Feb 2008 05:15PM |
CFU - EUR 12.4M Investment and High Volume Order - Mr Brendan Dow, CEO |
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Tue, 29 Jan 2008 04:30PM |
CFU - Supply Agreement with HC Stark - Mr Brendan Dow, CEO |
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Thu, 17 Jan 2008 04:00PM |
CFU - Collaboration with Paloma Group - Mr Brendan Dow, CEO |
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Tue, 18 Dec 2007 09:30AM |
CFU - Ships NetGenPlus Unit to EWE - Mr Brendan Dow, MD |
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Thu, 22 Nov 2007 04:30PM |
CFU - 2007 Annual General Meeting - Mr Julian Dinsdale, Chairman |
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Mon, 29 Oct 2007 03:30PM |
CFU - Quarterly Update - Mr Brendan Dow, MD |
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Thu, 30 Aug 2007 05:40PM |
CFU - 2007 Full Year Results - Mr Brendan Dow, MD |
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| Mon, 6 Apr 2009 10:00AM 10:00AM Australia/Victoria |
EGM DLA Phillips Fox, Level 21, 140 Williams St, Melbourne, VIC
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| Sun, 1 Mar 2009 11:00PM |
Interim Results | ||
| Wed, 26 Nov 2008 04:30PM 04:30PM Australia/Victoria |
Annual General Meeting DLA Phillips Fox, Level 21, 140 William St, Melbourne, VIC
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| Thu, 22 Nov 2007 04:30PM |
Annual General Meeting DLA Phillips Fox, Level 21, 140 William Street, Melbourne VIC 3000
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| Thu, 30 Aug 2007 | Full Year Results | ||
| Sun, 25 Feb 2007 11:00PM |
Interim Results | ||
| Tue, 28 Nov 2006 04:30PM |
Annual General Meeting Level 21, 140 William Street Melbourne VIC 3000
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| Tue, 29 Aug 2006 | Full Year Results | ||
| Thu, 9 Mar 2006 11:00PM |
Interim Results | ||
| Wed, 23 Nov 2005 09:00AM |
Annual General Meeting Phillips Fox, Lawyers, Level 21, 140 William St, Melbourne, VIC
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  Displaying 1-20 of 40 events
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CERAMIC FUEL CELLS LIMITED (CFU)
| Appendix 3Y - Change of Director`s Interest Notice | Fri, 3 Jul 2009 |
| Appendix 3B - Issue of Options to Staff | Thu, 2 Jul 2009 |
| Substantial Shareholder Notice | Mon, 25 May 2009 |
| CFU Launches New Product | Fri, 22 May 2009 |
| Response to an ASX Price Query | Tue, 12 May 2009 |
| Director Appointment/Resignation | Wed, 6 May 2009 |
| Initial Director`s Interest Notice | Wed, 6 May 2009 |
| Change in substantial holding | Thu, 30 Apr 2009 |
| Appendix 4C - quarterly | Tue, 28 Apr 2009 |
| Change of Director`s Interest Notice | Mon, 27 Apr 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH BRENDAN DOW, MANAGING DIRECTOR OF CERAMIC FUEL CELLS LIMITED (CFU)
“2008 Preliminary Financial Results”
http://www.brr.com.au/event/50280
THURSDAY, AUGUST 28, 2008, 10:00 AM.
BRR Today on Boardroom Radio I’m speaking with the Managing Director of Ceramic Fuel Cells, Mr. Brendan Dow. Brendan, thanks for joining us today.
10 CFU Thanks, James. It’s nice to be talking to you again.
BRR Now, you’ve released the Ceramic Fuel Cells Preliminary Results. I’d like to start by asking you to give us an overview of the financial results for the year.
CFU Okay. Well briefly our revenue from customers is up 42%. Our cash burn is
15 up around 4%, but importantly we did a heck of a lot more than we did in the previous 12 months in terms of our activity. Our loss was up primarily because of noncash charges, which included an impairment charge, option expenses, and the expenses incurred on the capital rating that we did back in May this year.
20
BRR Now Brendan, you’ve just mentioned the impairment charge, could I ask you to give a bit of detail and flesh around this?
CFU Yes, sure. We hold the portfolio within investments that give us some income. They’re all rated by S&P at A or above. So certainly they’re all investment
25 grade. One was downgraded by S&P to below investment grade. So we thought that it was prudent to write that investment, write down. It’s still paying interest, but we’ve written down most of it value as an impairment charge.
30 BRR Brendan, the book show that you have $43 million cash investments at the 30th of June, how is this broken up and what is the nature of the investment?
CFU Okay. Well we’ve got $13 million in cash in term deposits. There’s about $30 million in our investment portfolio. The investments are a range of interest-bearing securities fit with various maturity dates and further details of larger
35 investments will be disclosed in the audited statutory accounts, which we’ll provide at the end of September. All of the securities pay interest and apart from the one we’ve written back, they all retained their original credit ratings as they are above. In fact, during the past 12 months we’ve liquidated a little over $90 million of these progressively into cash.
40
BRR And, Brendan, could I ask you to comment on your current cash burn and if this is likely to increase?
CFU Okay. Well operating cash burned during the course of the year was $19.8 million. As I said at the start of the interview that was about 5% higher than
45 last year and that was really to fund our expansion of activities. We built more units, fully deployed our NetGenPlus program, product development, our powder plant, operational activities in our German factory have ramped up. Our cash burn -- our operating cash burn is likely to be broadly in line with this year as we move through our product development program and begin to deploy the first fully-integrated micro-CHP products late this year.
BRR Okay. If we now take this step away from the financial side, could I ask you to
5 touch on what you had been the main achievements of Ceramic Fuel Cells this year?
CFU We’re looking back, James, an incredibly busy year. We’ve signed product development agreements in the UK, in Holland, and then subsequently in Japan. We’ve got our first volume order with a great target from our Dutch
10 partner Nuon. The powder plant was completed. We’ve started to supply powder for fuel cell manufacture back here in Melbourne. And we’ve also continued to developed powders for new customers in Europe. We’ve signed outsourcing contracts with HC Starck and CeramTec for the outsourcing of our fuel cell ceramic chips. We’ve begun our Heinsberg investment in scaling
15 up our high-volume plant. All of our partners in Europe have had their NetGenPlus units installed and are operational. And of course we’ve had further advances in our fuel cell power density, efficiency and, of course, most importantly, our lifetime.
20 BRR Now Brendan, if we can just briefly touch on Japan. You said that the unit would be shipped in August, can you give us an update on this?
CFU Yeah, James, the unit will be shipped this week. We’ve been running over the course of August free delivery test, which have been included a number of fairly rigorous operational tests. Paloma is busy preparing the site for the unit,
25 and we’ll be updating shareholders with progress on that trial when we install and start operating the unit in the next weeks.
BRR And just to wrap things up, can you give us a snapshot or an overview of what’s to come in the year ahead?
30 CFU Well the year ahead is going to be as busy as this one, and this is really going to be a fantastic year of achievements for Ceramic Fuel Cells. We moved from semi-integrated into fully integrated units and now they’ll start to be deployed in Europe early in the new year. Our Japanese unit will be operational, and we’ll at look at how we can ramp up further the powder plant.
35 And of course we’ll have Heinsberg operational by June next year. And finally, I think, I mean, most importantly we’ll continue to make advances and have a technology performs and we’re confident that we’ll meet the targets of all of our utility partners. So that’s a really important part of next years’ activities.
40
BRR Well, Brendan, we really appreciate you taking the time to speak with us on Boardroom Radio today. If listeners, shareholders and interested parties want to get in touch with Ceramic Fuel Cells, what’s the best way for them to get in touch with you?
45 CFU The best way as always is www.cfcl.com.au. There are some direct contacts to us there. There’s a whole lot of links and there’s a whole lot of downloads that hopefully we can provide people with a lot more information, we have the company and our activities.
BRR Brendan, well congratulations on a very productive and progressive year and best of luck in the year ahead.
CFU Thanks, James, talk to you soon.
5 BRR Cheers!
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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