REG - Autins Group PLC - AGM Statement

AutinsAnnouncement

17/03/2022 07:00

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RNS Number : 0347F  Autins Group PLC  17 March 2022

17 March 2022

 

Autins Group plc

(the "Company" or the "Group")

 

AGM Statement

 

Autins Group plc (AIM: AUTG), the UK and European manufacturer of the patented
Neptune melt-blown material and specialist in the design, manufacture and
supply of acoustic and thermal insulation solutions, will hold its Annual
General Meeting at 11.00am today where the Group's Chairman, Adam Attwood will
provide the following statement:

 

"FY21 was one of strategic progress despite automotive market uncertainty. We
continued our operational improvements and successfully increased European and
non-automotive sales, particularly German flooring and products made from our
proprietary melt blown material, Neptune. However, the positive H1 momentum
was checked in H2 by semiconductor related supply chain disruption which
adversely affected automotive volumes. This led the Group to undertake and
successfully complete a £3m placing in December 2021 to improve cash headroom
and ensure the Company is well positioned to take advantage of future market
recovery.

 

Sales volumes in H1 FY22 remain similar to H2 FY21 due to the continued impact
of semiconductor shortages.  The industry had previously forecast an
improvement in semiconductor supply in the second half of calendar year 2022,
but the war in Ukraine adds to the overall uncertainty and timing of the
recovery.

 

Medium-term prospects remain positive with good retail demand for cars being
reported. We are progressing our EV strategy and will continue to diversify
into non-automotive markets. We are also developing technical improvements to
some of our key materials and processes to improve their cost and
recyclability.

 

The Group is keeping the changes in energy and commodity prices under ongoing
review and will take actions accordingly.

 

The Group expects to release its interim results for the six months ending 31
March 2022 in June 2022."

 

For further information please contact:

 Autins Group plc

 Gareth Kaminski-Cook, Chief Executive   Via SEC Newgate

 Kamran Munir, CFO

 Singer Capital Markets                  Tel: 020 7496 3000

 (Nominated Adviser and Broker)

 Mark Taylor / Asha Chotai

 SEC Newgate                             Tel: 020 7653 9850

 (Financial PR)

 Bob Huxford

 Molly Gretton

 Max Richardson

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.

 

 

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