Carbon fibre composite road wheel manufacturer Carbon Revolution continued to grow in the March quarter despite the Covid-19 pandemic.
The company announced revenue of $11.8 million, up 26.3 per cent from the previous corresponding quarter, and 45.9 per cent up on the fourth quarter of FY20.
The company sold 4,425 road wheels in the quarter, up 34 per cent on the previous corresponding period as the automotive manufacturing sector recovered from lockdowns.
Revenue in the past six months from one of Carbon Revolution’s customers has been adversely affected by the pandemic, with the manufacturer switching from air to sea transport, leaving $900,000 of stock in transit.
The company said there were discussions underway with a range of manufacturers about new wheel programmes, and the company is predicting strong growth in the year ahead.
During the quarter Carbon Revolution won approval from one customer to utilise its new facia technology which improves the apopearance of the completed wheel while dramatically improving efficiencies in the production process.
The technology improves the conversion of moulded wheels to wheels sold and drives a significant reduction in labour cost per wheel and inventory holding costs.
The company also completed virtual engineering activities on the development of a premium SUV wheel and tooling manufacture is now underway.
Carbon Revolution continues to invest in its Geelong factory with additional high-pressure moulding capacity, an automated face layup conveyor, a multi-head fibre placement machine and additional machine centres installed during the quarter.
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