Full Year 2023 CN Energy Group Inc Earnings Call
Good morning, good afternoon, and good evening to everyone listening around the world.
I'd like to welcome everyone to the first global conference call that has ever been conducted for <unk> Energy group.
Thank you for joining us.
My name is Steve Berman.
This morning, I'm, the new President and CEO of <unk> energy.
I am very excited to join the company and create new opportunities and synergies of success and transparency to all shareholders of the company.
I want to thank Nick Sunny Wong our previous CEO for a smooth transition of power.
And for her.
<unk> to the ongoing success of this company.
For today's call only.
I will not be taking questions, but I will be fielding questions on our next call after settling in and getting better acquainted with the business and operations of this company.
Now.
I wanted to make sure that everyone. On this call is familiar with what we do every day.
Activated carbon manufacturing.
Got it.
How do we do it.
Why is that our approach a differentiator.
Activated carbon has a plethora of applications is a key.
Key ingredients.
And just for manufacturing.
Human beings need medicine.
It is a major component.
It's in process.
Human beings need clean drinking water.
Now how do we do it.
Our activated carbon is created from 100% wood based agricultural and forest waste revenues and is zero carbon footprint manufacturing process now what does that really mean.
It means that our company is manufacturing and the cleanest manner possible for our environment.
Now why is our approach better.
The byproduct in our manufacturing process is 100% recyclable Queen biomass electricity. There are no toxic emissions no coal is use no phosphoric acid like most of our competitors.
With that said.
And since this is my first order of business. The CEO. Please allow me to give some background on my professional history.
I started my career in finance, where I spent eight years as a broker trading securities and growing my network of clients and a portfolio of assets.
And then I saw.
Started my journey into entrepreneur Ism.
<unk> built a successful global enterprise in the semiconductor space.
Some of the important business development focus areas where client relationships.
Supply chain optimization.
And product lifestyle efficiency.
I believe that my professional experience and business acumen.
Have positioned me well run this company.
Now thank you for allowing me to introduce myself now I am going to review the full year's results of operation for the fiscal year ended September 32023.
And for consistency.
When I deliver these results I'm going to do it in the same way so that we all get familiar with my approach.
I'm going to start with our revenues.
We posted a very strong revenue number for this period.
Seven $9 million in top line revenues, which were up 44% year over year.
This is a very healthy revenue number and my team is going to continue to focus on our sales penetration strategy now.
Now, let me share with you some of the metrics supporting our revenue results.
Revenue was driven by a strong increase in activated carbon.
And I'm sure you read in our earnings release that.
That we manufactured over 40000 ton.
Clean the activated carbon.
39, 2% for California, along with production and 40.
It was roughly the same way to 20000 cars.
Again this is a very healthy topline number.
Now from a net income perspective.
We posted a $5 $6 million in Boston This period.
While this may sound discouraging.
This positions us well for some key improvements.
Cost optimization opportunities.
I can share with you some of the areas of focus that all be exploring.
It's clear to me.
That a significant factor contributing.
What is the current cost of goods sold and.
In our current production lifecycle, we are going to review in its territory.
So Ricky courage Cleveland net income.
Additionally, I'm going to consider acquisition opportunities of accretive businesses to expand our product scope and leverage best in breed cost reduction strategies.
One example.
Is the distribution of semiconductors, and electronic components, a multi billion dollar industry.
Very experienced in this space and I understand the end product lifecycle.
And operating income dimension.
I am confident this type of expansion in synergy will strengthen our company and produce positive operating leverage.
And in closing.
I'm going to continue to invest in our marketing strategy, our sales initiatives, our relationship management and in our commitment to research and development for our multi product scope.
I am very excited to lead see in energy and the stupid chapter of growth and expanded management team by adding entrepreneurial likeminded individuals who are.
Have a track record of building successful profitable enterprise.
Thank you for joining this call and for allowing me to share my vision of the company's future.
I look forward to serving the shareholders, which is up my highest priority.
And I look forward to speaking to you all on our next Investor call.
Thank you very much everyone.
[laughter].
Okay.
Okay.
Okay.
Okay.
Okay.
Yes.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Yes.
Okay.
Okay.
Okay.
Yes.
Yes.
Yeah.
Okay.
Yes.
Okay.
Sure.