REG - Built Cybernetics - Trading Update

Canaccord GenuityAnnouncement

04/11/2025 11:29

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RNS Number : 5074B  Built Cybernetics PLC  01 October 2025

1 October 2025

 

Built Cybernetics plc

("Built Cybernetics", the "Company", or, together with its subsidiaries, the
"Group")

Year End Trading Update

 

The Board of Built Cybernetics (AIM:BUC), the smart buildings group, announces
an early look at trading for the financial year ended 30 September 2025 and
other matters.

 

Trading update

 

We are pleased that total revenues for the year are currently expected to
exceed those of the previous year.

 

Revenue at the Smart Buildings division in the second half of the financial
year is unlikely to match the first as a result of an unexpectedly quiet
August in Vanti, particularly in Stage Technology, that has not been recovered
in September. Order intake in September however has been strong with projects
set to start in the new financial year, and the performance of ecoDriver has
been in line with expectations.

 

More pleasingly, the Architecture division had a stronger second half of the
financial year. To support further growth, Veretec increased its headcount of
architects by over a third, while a number of previously delayed projects for
Aukett Swanke commenced in the fourth quarter.

 

At this stage the board's expectation is that the Group's overall outcome for
the second half will be a small loss. Shareholders should note however that
the full year results are subject to audit and are highly sensitive to revenue
recognition in architecture, provisions and adjustments which typically take
several months to finalise. Further announcements will be made in due course.

 

Proposed Disposal

 

In the prior year results, to 30 September 2024, the Group took the decision
to impair the goodwill in respect of its Anders + Kern U.K. Limited subsidiary
("A+K"), in the light of the significant losses at that division.
Disappointingly, further cost cutting has not had sufficient impact, and in
the year just ended A+K will again be a sizeable component of the Group's loss
for the period.

 

Accordingly, the board has resolved to dispose of A+K and has commenced
discussions. An update on the disposal will be provided when appropriate.

 

Convertible Loan Note

 

We have been delighted by the take up of our loan note by both existing
shareholders and new investors. The total amount now subscribed is £1.115
million which has provided valuable liquidity to the Group's balance sheet and
a stronger basis on which to develop the Group's businesses.

 

The information contained in this announcement is deemed to constitute inside
information as stipulated under the retained EU law version of the Market
Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement this inside information is
now considered to be in the public domain.

 

 

 Investor Enquiries                                       https://builtcybernetics.com/link/egaNBP

                                                        (https://builtcybernetics.com/link/egaNBP)
 We encourage all investors to share questions

 on this announcement via our investor hub
 Built Cybernetics plc                                    +44 (0)20 7843 3001

 Clive Carver, Chairman

 Nick Clark, Chief Executive
 Canaccord Genuity Limited, Nominated Adviser and broker  +44 (0)20 7523 8000

 Stuart Andrews

 Elizabeth Halley-Scott

 

About Built Cybernetics plc

Built Cybernetics is a London-quoted PropTech group delivering Smart Buildings
and related services. The Group is uniquely positioned to ensure the technical
systems that run modern premises are designed as an integral part of the
structure, from the outset. By cross-selling smart buildings services
alongside our renowned architecture projects, the Group's strategy positions
Built Cybernetics plc to build beyond one-off project fees and generate
scalable and recurring revenues for our investors.

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