ABV Presents The Market Update Of Its Award-Winning Braking System

  • Nov 27, 2018 AEDT
  • Team Kalkine
ABV Presents The Market Update Of Its Award-Winning Braking System

On 27th November 2018, Advanced Braking Technology Limited (ASX: ABV) discloses an update that its Tera Dura brakes which is successful among a wide range of customers who were trialing its brakes. However, there are certain drawbacks which are being reported that under extreme mining conditions. There were certain difficulties which were experienced in case of polymer housing design. After this, the company has taken initiatives to upgrade its existing design to have greater performance under all extreme conditions, especially in harsh mining applications.

The product re-designing for alternative housing material is in progress and its launch date will be confirmed once the project gets finalized. However, even after this loophole in its design, there was no impact seen in the market demand of the Terra Dura brakes of the company which indicates the interest of its customers from domestic and global blue-chip mining.

The company’s Failsafe and Failsafe emergency brakes capture a wider market share. The year to date product sales as of October 2018 are up by 8% as compared to the previous year. Since the company receives a large number of queries regarding the additional application and its upcoming new products or projects in line, it has now planned to focus its brakes towards high-volume global on-road markets.

It is expecting that the demand for its Failsafe and Failsafe emergency brakes will continue to grow and further increase the sales growth of the company.

For the financial year, the company incurred a net loss of $1.656 million. The company has a comparatively strong balance sheet. The net asset of the company is A$2.352 million. This indicates that the company is in a position to clear its long-term obligation. Further, the total current asset of the company is A$4.405 million and the total current liabilities of the company is A$3.224 million which indicates that the company is in a position to meet its short-term obligations as well as the net working capital. This year there was an increase in the accumulated loss as compared to the previous year. The total shareholder’s equity of the company is A$2.352 million.

From the operating activities, the net cash used was A$1.555 million. Under this category, the major source of cash outflow was due to the payment made to the suppliers, consultants, and employees. From the investing activities of the company, the net cash used was A$0.224 million. Here in this category, the major source of cash outflow was due to the purchase of plant, property, and equipment. From the financing activities of the company, the net cash inflow was A$0.673 million. By the end of the year the cash available with the company was A$0.627 million.

The market price of the share as on Novemeber 27, 2018, is A$0.002 (AEST: 3:53 pm, 27 November 2018) with the market capitalization of A$5.94 million.


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