Share Name Share Symbol Market Type Share ISIN Share Description
Ceramic Fuel LSE:CFU London Ordinary Share AU000000CFU6 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.22 0.00 0.00 0.00 0.00 0.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 3.6 -14.9 -0.7 - 7

Ceramic Fuel Cells Limited Half Yearly Report -3-

03/03/2014 7:02am

UK Regulatory (RNS & others)


Consolidated Statement of Comprehensive Income

For the half-year ended 31 December 2013

 
                                                                        Half-year 
                      Notes                                 2013                   2012 
                                                               $                      $ 
 
 
 Revenue from continuing operations           2        3,425,937              2,589,355 
 Cost of sales, service & warranty            4      (4,893,906)            (3,844,625) 
                                                  --------------  --------------------- 
 Gross profit/(loss)                                 (1,467,969)            (1,255,270) 
 
 Other income                                 3          421,216                471,916 
 
 Research & Product Development                      (3,933,071)            (4,297,603) 
 Manufacturing                                       (1,540,820)              (958,597) 
 General & Administration                            (4,129,040)            (4,952,071) 
 Sales & Marketing                                   (1,860,516)            (1,197,433) 
 Impairment Reversal / (Charge)                        1,973,570              (342,297) 
 Other Gains / (Losses) - Foreign 
  exchange                                             (866,662)               (41,430) 
 Finance costs                                         (447,505)               (36,497) 
 Loss before income tax                             (11,850,797)           (12,609,282) 
 
 Income tax benefit                                    4,022,582                      - 
                                                  --------------  --------------------- 
 Loss for the half-year entirely 
  attributable to members of Ceramic 
  Fuel Cells Limited                                 (7,828,215)           (12,609,282) 
 
 
 Other comprehensive income 
 Items which may be reclassified 
  to profit or loss 
 Exchange differences on translation 
  of foreign operations                                1,408,090                759,294 
 Other comprehensive income for 
  the half-year, net of tax                            1,408,090                759,294 
 
 Total comprehensive income/(expense) 
 for the half-year entirely attributable 
 to members of Ceramic Fuel Cells 
 Limited                                             (6,420,125)           (11,849,988) 
                                                  ==============  ===================== 
 
 
                                                           Cents                  Cents 
 Earnings per share for loss attributable 
 to the ordinary equity holders 
 of the company 
 Basic and diluted earnings per 
  share                                       15          (0.49)                 (0.86) 
 
 

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

Consolidated Balance Sheet

As at 31 December 2013

 
                                                    31 December         30 June 
                                        Notes              2013            2013 
                                                              $               $ 
 
 ASSETS 
 
 Current Assets 
    Cash and cash equivalents             5           9,034,469      10,010,131 
    Trade and other receivables           6           1,994,070       1,355,437 
    Inventories                           7          12,462,287       9,974,671 
    Other                                               368,044         825,506 
                                               ----------------  -------------- 
    Total Current Assets                             23,858,870      22,165,745 
                                               ----------------  -------------- 
 
 Non-Current Assets 
    Plant and equipment                              11,070,983      10,923,676 
    Intangible assets                                     1,000           1,000 
    Other                                               235,551         235,551 
                                               ----------------  -------------- 
    Total Non-Current Assets                         11,307,534      11,160,227 
                                               ----------------  -------------- 
 
 Total Assets                                        35,166,404      33,325,972 
                                               ----------------  -------------- 
 
 
 LIABILITIES 
 
 Current Liabilities 
    Trade and other payables                          3,266,882       2,328,053 
    Borrowings                            8             360,065       6,145,958 
    Derivative financial instruments      9                   -         663,878 
    Provisions                           10           2,896,219       3,406,824 
    Other liabilities                    11             926,693         862,431 
                                               ----------------  -------------- 
    Total Current Liabilities                         7,449,859      13,407,144 
                                               ----------------  -------------- 
 
 Non-Current Liabilities 
    Borrowings                            8           7,407,152         854,947 
    Derivative financial instruments      9             758,690               - 
    Provisions                           10           2,613,025       1,632,758 
    Other liabilities                    11           1,742,115       1,684,801 
                                               ----------------  -------------- 
    Total Non-Current Liabilities                    12,520,982       4,172,506 
                                               ----------------  -------------- 
 
 Total Liabilities                                   19,970,841      17,579,650 
                                               ----------------  -------------- 
 
 Net Assets                                          15,195,563      15,746,322 
                                               ================  ============== 
 
 
 EQUITY 
 
    Contributed equity                  13(b)       295,520,243     289,650,877 
    Reserves                                          3,735,332       2,327,242 
    Retained profits/(losses)                     (284,060,012)   (276,231,797) 
                                               ----------------  -------------- 
 
 Total Equity                                        15,195,563      15,746,322 
                                               ================  ============== 
 
 

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

Consolidated Statement of Changes in Equity

For the half-year ended 31 December 2013

 
                                                    Entirely attributable to owners 
                                                      of Ceramic Fuel Cells Limited 
                                        ------------------------------------------------------- 
                                  Note   Contributed    Reserves        Retained          Total 
                                              equity                    earnings         equity 
                                                   $           $               $              $ 
 
 Balance at 1 July 
  2012                                   277,282,387      68,950   (256,454,181)     20,897,156 
 
 Profit/(loss) for 
  the half-year                                    -           -    (12,609,282)   (12,609,282) 
 Other comprehensive 
  income                                           -     759,294               -        759,294 
                                        ------------  ----------  --------------  ------------- 
 Total comprehensive 
  income for the 
  half-year                                        -     759,294    (12,609,282)   (11,849,988) 
 
 Transactions with 
  owners in their 
  capacity as owners 
 Contributions of 
  equity, net of 
  transaction costs                       11,085,544           -               -     11,085,544 
 Employee shares 
  - value of employee 
  services                                   190,440           -               -        190,440 
 Employee share 
  options - value 
  of employee services                             -      41,342               -         41,342 
 
 Balance at 31 December 
  2012                                   288,558,371     869,586   (269,063,463)     20,364,494 
 
 
 Balance at 1 July 
  2013                                   289,650,877   2,327,242   (276,231,797)     15,746,322 
 
 Profit/(loss) for 
  the half-year                                    -           -     (7,828,215)    (7,828,215) 
 Other comprehensive 
  income                                           -   1,408,090               -      1,408,090 
                                        ------------  ----------  --------------  ------------- 
 Total comprehensive 
  income for the 
  half-year                                        -   1,408,090     (7,828,215)    (6,420,125) 
 
 Transactions with 
  owners in their 
  capacity as owners 
 Contributions of 
  equity, net of 
  transaction costs              13(b)     5,517,155           -               -      5,517,155 
 Conversion of loan 
  notes                                      335,514           -               -        335,514 
 Employee shares 
  - net value of 
  services provided/(reversed 
  on forfeiture)                 13(b)       (6,520)           -               -        (6,520) 
 Employee shares 
  - net proceeds 
  from sale of forfeited 
  shares                                      23,217           -               -         23,217 
 
 Balance at 31 December 
  2013                                   295,520,243   3,735,332   (284,060,012)     15,195,563 
                                        ============  ==========  ==============  ============= 
 
 

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

Consolidated Statement of Cash Flows

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