Cycliq Group Limited
Climate Impact & Sustainability Data (2017)
Reporting Period: 2017
Environmental Metrics
ESG Focus Areas
- Environmental Issues
- Corporate Governance
Social Achievements
- Strengthening relationship with large retailers Pushys, 99 Bikes and Bikebug underpinned the lift in Australian sales volumes.
- Positive sales momentum from Korea, the United States and the United Kingdom. International sales now account for about 80 per cent of total revenue.
- Sales volumes for Cycliq’s flagship Fly6 and Fly12 devices have been on a convincing upward trajectory in the nine months following our ASX debut.
- Engaging global cycling influencers such as Global Cycling Network (GCN), Chain Reaction Cycles and Bicycling.
- Signing of professional cyclist Caleb Ewan as a brand ambassador.
Governance Achievements
- Cycliq has transitioned from a crowdfunded start-up to an ASX-listed tech stock.
- Successfully completed a capital raise which included a $2 million placement and $1.5 million rights issue.
Climate Goals & Targets
Environmental Challenges
- Difficulties with product manufacturer being unable to meet production schedules, resulting in a 9-week period in which they were out of stock of their Fly6 product.
- Impact of Fly12 Kickstarter revenue disproportionately inflating the FY2016 revenue figure.
Mitigation Strategies
- Diversified product manufacturers to avoid potential outages.
- Brought product manufacture in-house through the Joint Venture with Thompson and Kenneth Cheung.