REG - EKF Diagnostics Hldg - FY 2025 Trading Update

EKF Diagnostics HoldingsAnnouncement

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RNS Number : 4276Q  EKF Diagnostics Holdings PLC  27 January 2026

 

 

EKF Diagnostics Holdings plc

("EKF" or the "Company")

 

FY 2025 Trading Update

 

Strong foundation for five-year growth strategy

Adjusted EBITDA up c. 10%

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-quoted global diagnostics
business, provides a trading update for the year ended 31 December 2025 ("FY
2025").

 

FY 2025 was a period that has provided a strong foundation for the five-year
strategy plan focussing on:

 

·    becoming #1 in global Point-of-Care (POC) Hematology testing

·    cementing EKF's leading position in β-HB supply

·    accelerating the transformation of the Life Sciences division into a
world class Contract Development and Manufacturing Organisation (CDMO)

 

FY 2025 revenues were up 3% to £51.6m (FY 2024: £50.2m), reflecting the
continued focus on higher margin product ranges and core operations, and the
winding down of non-core and low margin product lines and services.

 

POC revenues (Hematology and Diabetes) increased by 6.5% and Life Sciences
(β-HB and Fermentation) grew by 7.2%. β-HB sales improved by 10% and a new
fermentation development agreement was signed with a significant diagnostic
customer which has contributed additional revenues towards the end of 2025,
with this continuing into 2026; as well as further potential sales ramp up as
product is considered for onshore development within the US.

 

Gross margins continued to improve and stood at 51% for the period (FY 2024:
48%) and adjusted EBITDA(1), subject to completion of the audit, is expected
to be up nearly 10% to £12.4m(2) (FY 2024: £11.3m), in-line with consensus
forecasts.

 

Cash generation continues to be strong. Cash as at 31 December 2025 was
£15.8m (Cash at 31 December 2024: £14.3m), after the deployment in 2025 of
£5.1m of on-market purchases in the share buy-back programme and investment
for growth that is part of the five-year strategic development plan. Cash
balances in Russia which are included FY 2025 figure were £2.1m (£1.3m as at
31 December 2024). The Company has no bank borrowings.

 

Update on share buy-back programme

Since the commencement of the current programme, the Company has purchased a
total of 21,150,452 ordinary shares of 1p each in the capital of the Company
("Ordinary Shares") at an average price of 25.13 pence per share, at an
aggregate cost of £5.3m, which is equal to 5% of the current available
shares, demonstrating significant undervaluation. Alongside each market
purchase, the Company has also acquired shares from Harwood as investment
manager to Oryx International Growth Fund Limited ("Oryx") and North Atlantic
Smaller Companies Investment Trust PLC ("NASCIT"). Harwood has facilitated
this transaction solely in order to ensure that the aggregate indirect
beneficial interest of Mr. Christoper Mills (a non-executive director of the
Company) remains at approximately the same level and in any event does not
exceed 30% of the prevailing total voting rights in the Company following any
repurchases.

 

In the event that the Company intended to make further purchase of Ordinary
Shares, but where Harwood does not also reduce the number of shares it owns,
it would become necessary to obtain permission from the Takeover Panel and
independent shareholders at the next AGM for a waiver of the obligation for
Harwood to make a general offer under Rule 9 of the Takeover Code for the
equity share capital of the Company, which would arise following an increase
in Harwood's interest in Ordinary Shares to 30 per cent. or more of the voting
rights of the Company.

 

EKF expects to announce its FY 2025 results in late March 2026.

 

(1)Earnings before interest, tax, depreciation and amortisation, excluding
exceptional items.

²Management understands consensus Adjusted EBITDA forecast for FY 2025 was
£12.4m.

 

The person responsible for arranging the release of this Announcement

on behalf of the Company is Gavin Jones, Chief Executive Officer.

 

 

 

 EKF Diagnostics Holdings plc                                www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Julian Baines, Executive Chair                               via Walbrook PR
 Gavin Jones, Chief Executive Officer
 Stephen Young, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser & Broker)                                       Tel: +44 (0)20 7496 3000
 Phil Davies / Patrick Weaver

 Walbrook PR Limited              Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Alice Woodings    Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654

 

 

 

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com
(http://www.ekfdiagnostics.com) )

 

EKF is an AIM-listed global diagnostics business focussed on:

 

 ●    Point-of-Care analysers in the key areas of Hematology and Diabetes
 ●    Life Sciences services provide specialist manufacture of enzymes and custom
      products for use in diagnostic, food and industrial applications.

 

EKF has headquarters in Penarth (near Cardiff) and operates five manufacturing
sites across the US and Germany, selling into over 120 countries world-wide.

 

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