Key facts about Alexium International Group's half-year report

Alexium International Group Limited (ASX: $AJX) has reported a 19.5% decrease in revenue from ordinary activities for the six months ended 31 December 2023 compared to the same period in the prior year. The gross margin increased by 6.7 percentage points due to a favorable customer/product mix, improved operating efficiencies, and negotiated reductions in some raw material costs. The loss before finance costs decreased by 16.9% to $1.3M from the same period prior year. The net loss for the period was $2.0M, a 17.4% decrease over the comparative period. The company also announced its intentions to enter a capital raise and refinancing transaction, pending shareholder approval, to provide a minimum amount of new equity of A$4.0 million via a fully underwritten entitlement offer and placement.

Executive commentary on the half-year results

The period was highlighted by the continued refinement of the Company's proprietary technologies and the development of new applications for these technologies. Success was achieved in areas of significant customer interest, such as a more environmentally friendly FR chemistry and the application of PCM in packaging solutions. The Board is excited about the new market opportunities resulting from these advances. The company also announced its intentions to enter a capital raise and refinancing transaction, pending shareholder approval, to provide a minimum amount of new equity of A$4.0 million via a fully underwritten entitlement offer and placement.

Summary of Alexium International Group's half-year report

Alexium International Group reported a 19.5% decrease in revenue from ordinary activities for the six months ended 31 December 2023 compared to the same period in the prior year. The gross margin increased by 6.7 percentage points due to a favorable customer/product mix, improved operating efficiencies, and negotiated reductions in some raw material costs. The company also announced its intentions to enter a capital raise and refinancing transaction, pending shareholder approval, to provide a minimum amount of new equity of A$4.0 million via a fully underwritten entitlement offer and placement. The Board is optimistic about the new market opportunities resulting from the continued refinement of the Company's proprietary technologies and the development of new applications for these technologies.