Autins Group PLC - Trading Update

29 April 2025

Autins Group plc

(the "Company" or the "Group")

Trading Update

Autins Group plc (AIM: AUTG), the UK and European based manufacturer of the patented Neptune melt-blown material and specialist in the design, manufacture, and supply of acoustic and thermal insulation solutions, provides a trading update for the 18 month period from 1 October 2023 to 31 March 2025

The unaudited results for the 18 month period ended 31 March 2025 show Group sales of £31.1m (FY23*: £22.7m). Sales in the 6 month period ended 31 March 2025 of £9.6m were 2% lower than the 6 month period ended 30 September 2024 (£9.8m), principally, due to small volume reductions in our German and Swedish businesses.

Gross profit through the 18 month period was £9.9m (FY23 £6.7m) and gross margin of 32.1% represents an improvement of 2.6 ppts over FY23 (29.5%).  The gross profit margin in the 6 month period ended 31 March 2025 (£3.2m) was 33.2%, an increase of 2.1 ppts from the 6 month period ended 30 September 2024 (£3.0m). This was due to improved operational efficiencies in our German and UK businesses.

EBITDA for the 18 month period ended 31 March 2025 was £2.2m (FY23 £1.2m) and at 7.0% of sales is an increase of 1.7 ppts over FY23 (5.3%). The EBITDA in the 6 month period ended 31 March 2025 was £0.9m (9.8%) an increase of £0.5m from the 6 month period ended 30 September 2024 (5.1%).

Net loss for the 18 month period ended 31 March 2025 was £1.7m (FY23 net loss of £0.9m).  The net loss in the 6 month period ended 31 March 2025 was £0.4m, reflecting an improvement of £0.4m from the 6 month period ended 30 September 2024 (net loss of £0.8m).

The Group has made significant progress on its planned return to net profit, having achieved a small net profit in the final quarter of the financial period.  This demonstrates that our cost control and efficiency initiatives are delivering the necessary improvements allowing us to meet all banking covenants and to continue to make scheduled repayments of our existing bank loans.

The Group ended the period with reduced net debt (being the net of cash and cash equivalents and the Group's loans and borrowings, excluding right of use lease liabilities) of c.£1.1m (FY23 £1.6m).  

All numbers presented above are draft and subject to audit. The Group expects to announce audited results for the period on the 24 June 2025.

We have continued to win new business for both UK and EU based projects, and these are expected to provide revenue growth in H2 FY26 as they begin production.

Like most UK/EU based automotive component manufacturers, we are facing new uncertainty due to the changing US tariffs and their potential impact on volumes.  Whilst this does not affect our longer-term growth prospects it may create short term fluctuations as manufacturers absorb these changes.  We believe we are well set to manage these challenges as well as taking advantage of growth opportunities should they arise. 

At the time of our Interim results, we stated that we would reintroduce market guidance in tandem with this trading update but given the current levels of market uncertainty, the Board considers it is best to delay until the impact of US tariffs is better understood.  We remain committed to re-instating market forecasts in the current financial year, as visibility on outlook improves.

The Board strongly believes this set of results is a testament to the delivery of our strategy and shows we are on the path to sustainable profitability.

*FY23 refers to the 12 month period ended the 30 September 2023

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About Autins

Autins is a UK and continental Europe based industrial materials technology business that specialises in the design, manufacture, and supply of acoustic and thermal products. Its key markets are automotive, flooring, office furniture and commercial vehicles where it supplies products and services to more than 160 customer locations across Europe.

Autins is the UK and European manufacturer of the patented Neptune melt-blown material and specialises in the design, manufacture, and supply of acoustic and thermal insulation solutions.