REG - Hardide PLC - Year End Trading Update

HardideAnnouncement

22/10/2025 07:00

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RNS Number : 2881E  Hardide PLC  22 October 2025

 

Hardide plc

("Hardide", the "Group" or the "Company")

Year end trading update

 

 

Hardide plc (AIM: HDD), the developer and provider of advanced surface coating
technology, is pleased to provide a pre-close trading update for the financial
year ended 30 September 2025 ("FY25").

 

Revenues grew by over 25% to £6.0m (FY24: £4.7m), driven by the new
recurring work in the aerospace sector announced in the early part of the year
and new development work won more recently in the energy sector.

 

The Board expects this growth to deliver a materially improved EBITDA result
for the year of approximately £1m (FY24: break-even*) at an EBITDA margin of
over 16%, together with a positive earnings per share outcome for the first
time in many years.

 

The Group's net debt (including leases) at 30 September 2025 was £1.6m (30
September 2024: £2.1m). Within this, the cash balance was £0.8m compared
with £0.7m a year ago, despite some working capital absorption ahead of the
financial year end due to strong trading in the final quarter. This included
initial development work with new customers in North America and the Middle
East within the energy sector.

 

Whilst mindful of continuing global economic uncertainties, the Board remains
confident in the Group's prospects, supported by increasing market adoption of
Hardide's unique surface coating technology.

 

The Board remains highly focused on delivering its medium-term objective to
double revenues from FY24 levels to at least £10m over the next few years,
leveraging existing spare capacity to drive significant operating margin and
earnings growth.

 

Notes:

The Group expects to announce its full audited annual results for FY25 in late
January 2026. All figures relating to FY25 provided above are unaudited.

 

*Prior to one-off restructuring costs of £0.4m in FY24

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR") EU no.596/2014. Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

 

 

Enquiries:

 

 Hardide plc
 Matt Hamblin (Chief Executive Officer)                        Tel: +44 (0) 1869 353 830
 Simon Hallam (Chief Financial Officer)

 Cavendish Capital Markets Ltd - Nominated Adviser and Broker
 Henrik Persson / Elysia Bough (Corporate Finance)             Tel: +44 (0) 2072 200 500
 Jasper Berry / Dale Bellis (Sales)

 Notes to editors:
 www.Hardide.com (http://www.Hardide.com)

Hardide develops, manufactures and applies advanced technology tungsten
carbide/tungsten metal matrix coatings to a wide range of engineering
components. Its patented technology is unique in combining in one material, a
mix of toughness and resistance to abrasion, erosion and corrosion; together
with the ability to coat accurately interior surfaces and complex geometries.
The material is proven to offer dramatic improvements in component life,
particularly when applied to components that operate in very aggressive
environments. This results in cost savings through reduced downtime and
increased operational efficiency as well as a reduced carbon footprint.
Customers include leading companies operating in the energy sectors, valve and
pump manufacturing, industrial gas turbine, precision engineering and
aerospace industries.

 

 

 

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