REG - LifeSafe Holdings - Trading Update

LifeSafe HoldingsAnnouncement

06/02/2025 07:00

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RNS Number : 0853W  LifeSafe Holdings PLC  06 February 2025

 

 

 For immediate release  6 February 2025

 

 

 

LifeSafe Holdings plc

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

 

Trading Update

 

FY24 performance in line with Board expectations

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing and prevention fluids and fire safety products, provides the
following trading update for the year ended 31 December 2024 ('FY24').  The
figures set out in this announcement are subject to audit.

 

The Board is pleased to report that the Group's trading result for FY24 is in
line with its internal expectations.

 

Revenue for FY24 is expected to be approximately £3.3 million.  Underlying
LBITDA(1) is expected to be approximately £0.7 million.  This represents a
significant improvement on the previous year's underlying LBITDA of £1.4
million, in line with our journey to profitability.  Overheads were reduced
by £2.1 million (43%) against prior year, to £2.7 million, with marketing
costs and warehousing and logistics costs in particular decreasing by 64% and
66% respectively.

 

As previously reported, early in 2024 the Board took steps to address the cost
pressures experienced as LifeSafe scaled at pace during 2023.  The Group
evolved its US sales model from a pure B2C to a B2B2C model, partnering with
wholesalers to improve LifeSafe's gross and net margins.

 

Significant savings have been made at the gross margin level, through reduced
fulfilment and commission charges, while overheads decreased mainly through
reduced marketing and logistics costs.  This enabled LifeSafe to achieve a
higher gross margin on lower revenue, reflecting the new distribution
relationship in the US.

 

It is expected that the Preliminary Results will be published in April 2025.

 

Dominic Berger, Chairman of LifeSafe, commented: "Our marketing investment in
2023 successfully enabled us to sign up new wholesale partners in the US in
early 2024 which has resulted in significant savings in our overheads driving
the business towards profitability."

 

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

 

- Ends -

 

 

For further enquiries:

 

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

 Zeus (Nominated Adviser & Broker)                              Tel: +44 (0) 203 829 5000
 David Foreman, Alexandra Campbell-Harris (Investment Banking)
 Emma Ayton (Sales)

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing and prevention 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.  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)

 

X (formerly Twitter): https://x.com/LifesafeT (https://x.com/LifesafeT)

 

 

 

 

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