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Media Release 31 March 2016


Energy Mad Refocus as Australian Quarterly Revenues Quintuples


Energy saving light bulb company Energy Mad's last quarter FY2016 Australian revenue is five times that of its first quarter FY2016 revenue.


Its Australian revenue has grown from $0.6 million in the first quarter of FY2016 to

$3.0 million for the last quarter ending 31 March 2016. Quarter two Australian revenue was $0.8 million and quarter three Australian revenue was $2.0 million.


This revenue growth came from Energy Mad's new Ecobulb LEDs sold into Australian State Government energy efficiency schemes.


These new Ecobulb LEDs were developed to target previously underutilised opportunities in these schemes due to a lack of suitably performing and priced LEDs being available.


Energy Mad expect the continuation of the Australian quarter four revenue into the upcoming FY2017 financial year. Assuming this eventuates, this should result in Energy Mad being both EBITDA and cash flow positive for FY2017.


Because of restructuring costs and one-off Australian Ecobulb air freighting costs to service this growth, Energy Mad will not deliver a positive EBITDA for the FY2016 financial year.


Given the rapid growth in the Australian Ecobulb LED sales and the potential for future growth, Energy Mad is refocusing its resources to maximize this Australian opportunity.


As a result, Energy Mad co-founder and Managing Director Dr Chris Mardon has stepped down from the Energy Mad board to focus all of his time on the Australian opportunity.


His place on the Energy Mad board has been filled by David Jarman, an experienced Christchurch based Executive and Director.


Energy Mad is also pursuing several options to drive down costs and improve performance in other areas of its business. Suitable provisioning is being made for this activity.


ENDS

Energy Mad's new Australian Ecobulb LED Range


For More Information Contact:


Chris Mardon, Managing Director (021) 041 2981

Energy Mad Limited issued this content on 31 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2016 20:57:54 UTC

Original Document: http://www.energymad.com/content/download/534/4655/file/News Release Australian Quarterly Revenues Quintuples 310316.pdf