Altech Batteries (ATC) H2 2024 earnings summary

Executive summary

• Advanced commercialisation of CERENERGY® Sodium Chloride Solid State Battery and Silumina Anodes™ projects, including completion of Definitive Feasibility Studies for both in Saxony, Germany.

• Expanded Silumina Anodes™ project output eightfold and upgraded CERENERGY® battery output by 20% to 120 MWh per annum.

• Secured first offtake LOI for CERENERGY® GridPacks and completed pilot plant construction for Silumina Anodes™.

• Raised significant capital post-year-end to support ongoing development and operations.

Financial highlights

• Revenue of $256,766 for FY24, down from $296,456 in FY23.

• Net loss after tax of $32.3 million, a significant improvement from $61.8 million loss in FY23.

• Cash and cash equivalents at year-end were $2.1 million, down from $3.6 million.

• Net assets decreased to $22.6 million from $33.9 million year-over-year.

• No dividends declared or paid.

Outlook and guidance

• Focus on securing offtake agreements and raising capital for construction of the 120 MWh CERENERGY® battery plant.

• Continued development and commercialisation of Silumina Anodes™ with pilot plant commissioning and customer sample distribution.

• Ongoing R&D to improve Silumina Anodes™ battery capacity retention beyond current levels.