REG - GETECH Group plc - Trading Statement

GetechAnnouncement

24/07/2025 07:00

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RNS Number : 2393S  GETECH Group plc  24 July 2025

24(th) July 2025

Getech Group plc

("Getech" or the "Company")

Trading Update

Positive Start - Well Placed for the Year

Getech (AIM: GTC), a world-leading locator of subsurface resources, is
pleased to announce the following trading update for the six months to 30(th)
June 2025.

The start of 2025 marked a new period for the business. On 22(nd) January,
Chris Jepps, previously Chief Operating Officer, was appointed Interim Chief
Executive Officer. The immediate focus has been to re-set the financial
balance of the business and move to being EBITDA positive. Within the first
three months of the year, the annual cost base was reduced by c. 20%, a c. £1
million reduction (on an annualised basis), achieved primarily through
reducing headcount but without comprising the Group's ability to deliver for
clients. In parallel, the Company set out a new, sustainable, business
strategy, which re-focuses the Group on its traditional markets of Oil and Gas
and Mining - where Getech has long-term relationships with many of the largest
companies operating in these sectors - while continuing to progress
high-quality, selective opportunities in Natural Hydrogen.

In H1, trading conditions remained challenging, nevertheless the Group expects
to achieve revenues of £2.09 million (H1 2024: £2.15m) and due to
efficiencies achieved, adjusted EBITDA is expected to have improved to a loss
of £0.1m (H1 2024: £0.3m loss) despite an impact of £0.1 million in reduced
revenues due to factors outside of our control (such as adverse movements in
foreign exchange), placing the Company on track to be EBITDA positive for the
year.

In tandem with repositioning Company's strategy and re-setting the cost-base
to improve profitability, the management team is focused on placing the Group
on a path to increasing revenues.  To achieve this objective, the sales team
has been expanded in the US and the UK with two new appointments in 2025,
including a new Sales Director. This key hire, previously engaged as an
external consultant, is now a central part of the Sales team and responsible
for implementing a new structure and approach to identifying and securing new
business opportunities expedited by his existing knowledge of the Company.

The Group's largest market - the oil and gas sector - has recently benefitted
from the change in US administration and the increase in global energy
security concerns. However, uncertainty around trade tariffs, risk of global
recession and decreasing oil prices have also presented some headwinds. Taken
together and entering the traditionally stronger second half of the year, the
Group continues to believe it has a sufficient pipeline of expected renewals
and new business opportunities to meet the target of delivering mid-to-high
single digit organic revenue growth and being EBITDA positive for 2025.

For a greater insight into the first six months of 2025, click on the
following link to read a quickfire Q&A with Getech CEO Chris Jepps:
https://getech.com/getech-investors/ (https://getech.com/getech-investors/)

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For further information, please contact:

 Getech Group plc

 Chris Jepps, CEO                                 Tel:  0113 322 2200
 Michael Covington, Chairman

 Cavendish Capital Markets Limited

 Neil McDonald / Pete Lynch (Corporate Finance)   Tel:  0207 397 8900

 Dale Bellis / Jasper Berry (Sales)

 Novella Communications                           Tel: 0203 151 7008
 Tim Robertson / Safia Colebrook
 getech@novella-comms.com

Notes to Editors:

About Getech

Getech is a leading locator of subsurface resources essential for the world's
energy security and sustainable transition. The Company combines unique
geoscience expertise, AI-driven analytics, and extensive geospatial insight to
identify new energy and mineral resources and streamline exploration
processes. Serving clients across corporates, government and regulators in a
wide range of industries, Getech is committed to enabling energy and mineral
security while supporting a shift towards low carbon sources.

 

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