CN ENERGY GROUP. INC. [Rocket]

In millions, except per share items	Sep-30-22	Sep-30-21	Sep-30-20	Sep-30-19
	20-F	20-F	20-F	20-F
Revenues:
Activated carbon	39.9	19.6	12.1	10.5
Biomass electricity	0.2	0.1	0.3	0.2
Technical service	0.1	0.1	0.1	0.2
Total revenues	40.2	19.8	12.5	10.9
Revenue growth [+]	102.6%	59.1%	14.5%
Activated carbon	104.0%	61.8%	15.3%
Biomass electricity	5.2%	-44.0%	30.6%
Technical service	-0.9%	7.6%	-41.1%
Cost of goods sold	36.6	17.2	9.1	7.9
Gross profit	3.6	2.6	3.4	3.0
Gross margin	9.1%	13.2%	26.9%	27.3%
Selling, general and administrative [+]	2.1	1.6	1.1	1.2
Sales and marketing	0.1	0.2	0.1	0.3
General and administrative	2.1	1.4	0.9	0.9
Research and development	1.0	0.4	0.3	0.6
EBITDA [+]	1.8	1.6	2.9	2.1
EBITDA growth	11.7%	-44.0%	37.1%
EBITDA margin	4.5%	8.2%	23.4%	19.6%
Depreciation and amortization	1.4	1.1	0.9	0.9
EBIT [+]	0.5	0.6	2.0	1.2
EBIT growth	-21.2%	-70.9%	68.7%
EBIT margin	1.1%	2.9%	16.1%	10.9%
Interest income, net [+]	0.7	0.2	0.0	0.0
Interest expense			0.0	0.0
Interest income	0.7	0.2
Other income (expense), net	1.4	1.0	0.5	0.6
Pre-tax income	2.5	1.7	2.5	1.8
Income taxes	0.3	0.4	0.2	0.1
Tax rate	12.4%	25.2%	6.8%	6.1%
Net income	2.2	0.3	2.3	1.7
Net margin	5.5%	1.6%	18.8%	15.3%

Basic EPS [+]	$0.10	$0.02	$0.23	$0.17
Growth	386.8%	-91.0%	40.6%
Diluted EPS [+]	$0.10	$0.02	$0.23	$0.17
Growth	386.8%	-91.0%	40.6%

Shares outstanding (basic) [+]	21.7	15.2	10.0	10.0
Growth	42.5%	52.0%	0.0%
Shares outstanding (diluted) [+]	21.7	15.2	10.0	10.0
Growth	42.5%	52.0%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.