REG - LifeSafe Holdings - Trading Update & Industrial Purchase Orders

LifeSafe HoldingsAnnouncement

30/01/2024 07:00

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RNS Number : 2793B  LifeSafe Holdings PLC  30 January 2024

 

 

 For immediate release  30 January 2024

 

 

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

 

Trading Update and Industrial Sales Channel Purchase Orders

 

FY23 performance in line with expectations with first industrial orders ahead
of forecast

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluids and fire safety products, provides the following trading
update for the year ended 31 December 2023 ('FY23').  In addition, the
Company is also pleased to provide an update on purchase orders received
through its new industrial sales channel.  The figures set out in this
announcement are subject to audit.

 

FY23 Trading Performance

 

Further to LifeSafe's Trading Update on 29 November 2023, the Board reports
that trading for FY23 is in line with updated guidance.

 

Revenue for FY23 is expected to be approximately £5.9 million, at the upper
end of the Board's expectations following successful trading over the
Christmas period.  Underlying LBITDA(1) is expected to be approximately £1.4
million, in the middle of the range of the Board's expectations.

 

The Group continues to chase, but has not yet received, an update from HMRC as
to progress in paying its delayed VAT refund of £350,000.

 

It is expected that the Preliminary Results will be published in April 2024.

 

Industrial Sales Channel Purchase Orders

 

The Board is pleased to report that since the year-end it has received its
first purchase orders for industrial fluids for testing and certification
purposes.  The orders for LifeSafe's Pre-Trauma Fluid ('PTF') and Thermal
Runaway Fluid ('TRF') have come through the recently announced partnerships
with Reacton and Lingjack, for use, respectively, in testing in Reacton's
electric vehicle suppression system and in Lingjack's range of fire
extinguishers and fixed suppression systems.

 

Dominic Berger, Chairman of LifeSafe, commented: "This progress is
significantly ahead of the Board's timing expectations for its first material
industrial orders through this new, higher-margin channel for 2024 and beyond.
2023 saw us successfully launch a number of innovative and non-toxic
life-saving products, including the StaySafe All-in-1 fire extinguisher
through to the Pre-Trauma Fluid, a preventative supercoolant designed to
prevent lithium battery fires.  Moreover, the Group's strategy to grow its
presence in industrial markets is progressing very well, and we look forward
to building on our industrial partnerships in the year ahead."

 

(1)Underlying LBITDA represents loss for the year before finance expense, tax,
depreciation and amortisation, and non-underlying items.

 

- Ends -

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ('MAR').  Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Mike Stilwell, Chief Financial Officer of the
Company.

 

For further enquiries:

 

 LifeSafe Holdings plc                                Via FTI Consulting
 Dominic Berger, Chairman                             info@lifesafet (mailto:info@lifesafetechnologies.com) echnologies
                                                      (mailto:info@lifesafetechnologies.com) .com
                                                      (mailto:info@lifesafetechnologies.com)
 Neil Smith, Chief Executive Officer
 Mike Stilwell, Chief Financial Officer

 WH Ireland Limited (Nominated Adviser & Broker)      Tel: +44 (0) 20 7220 1666
 Chris Fielding
 Darshan Patel
 Isaac Hooper

 FTI Consulting (Financial Communications)            Tel: +44 (0) 20 3727 1000
 Tom Hufton                                           LifeSafe@fticonsulting.com (mailto:LifeSafe@fticonsulting.com)
 Harriet Jackson
 Liam Gerrard

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing fluids and life-saving fire safety
products.  LifeSafe has developed a market disrupting range of eco-friendly
fire safety protection products; a new patent-pending Thermal Runaway Fluid to
combat lithium battery fires by permanently extinguishing and preventing
re-ignition, and the StaySafe All-in-1, a handheld eco-friendly and fully
recyclable extinguisher which is verified to extinguish ten different types of
fire and the number one selling fire extinguisher on Amazon UK.  LifeSafe is
successfully creating new markets for the Group in fire safety through its
innovative technologies, products, digital marketing and multi-channel sales;
and is continuing to develop new fluid derivations for applications in various
industrial market sectors.

 

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.

 

For further information please visit: https://www.lifesafeholdingsplc.com
(https://www.lifesafeholdingsplc.com/) .

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies
(https://www.linkedin.com/company/lifesafe-technologies)

Twitter: https://twitter.com/LifesafeT (https://twitter.com/LifesafeT)

 

 

 

 

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