REG - Autins Group PLC - Trading Update

AutinsAnnouncement

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RNS Number : 5062G  Autins Group PLC  29 April 2025

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

 

For further information please contact:

 Autins Group plc

 Andy Bloomer, Chief Executive    Via Singer Capital Markets

 Adam Attwood, Chairman

 Singer Capital Markets           Tel: 020 7496 3000

 (Nominated Adviser and Broker)

 Sandy Fraser / Asha Chotai

 

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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