Avingtrans has reported a robust set of FY23 results with EBITDA growth of 10.6%, marginally ahead of expectations. The Group entered the current year with good momentum and a strengthened order book that now provides over 90% visibility for FY24 and over 45% for FY25. Post year-end the Group acquired the assets of Slack & Parr, a specialist pump manufacturer, and also recently completed the acquisition of Adaptix, a manufacturer of compact 3D X-ray machines, as well as investing further in Magnetica, its complementary earlier stage business focused on small scale MRI. There is significant potential for value creation in the expanded Medical division in the years to come. We have updated our forecasts and made significant changes to reflect the continuing investment in the Medical division ahead of commercialisation and anticipated strong sales growth.
