REG - Metir PLC - Trading Update and Growth Plan

MetirAnnouncement

02/12/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251202:nRSB7826Ja&default-theme=true

RNS Number : 7826J  Metir PLC  02 December 2025

2 December 2025

 

Metir plc

 

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

 

Trading Update and Growth Plan

 

Metir plc (AIM: MET), the leading global provider of fast response mobile and
point-of-use water and environmental testing technology, today provides a
trading update ahead of its financial year ended 31 December 2025.

 

Trading and order book

 

The Group has continued to build on the significant progress reported in its
Interim Results on 30 September 2025. Demand is increasing, driven by growing
international demand for Microtox® LX instruments, reagents and SRB sales.

 

Customer demand for LX instruments has been encouraging, and sales are in line
with management expectations as reported in September 2025. Although
production rates of instruments have increased during the second half of the
year, the Group is nearing the limits of its current outsourced manufacturing
capacity.

 

Metir believes that it can secure materially higher sales volumes of
instruments if it can increase the build and supply rate. The Group is in
discussions with its manufacturing partner to increase production rates in
2026. This will both reduce delivery times for larger batches made to order
for specific customers and simultaneously create a stock of instruments which
can be used to meet short turnaround demand. The growing customer base of LX
and FX instruments drives demand for high-margin Microtox® reagents, but
unlocking and accelerating this high-margin growth depends on scaling LX and
FX unit production reliably.

 

As part of the Group's growth strategy, Metir also intends to further upgrade
the LX and FX units with upgraded and easily sourced supply chain components
in 2026. This will significantly improve instrument margins by facilitating
increased and reliable manufacturing output.

 

Sales of Sulphate Reducing Bacteria (SRB) kits, which started in June 2025,
give the fastest results available on the market, remain robust and are in
high demand.  Orders of SRB kits have increased, with customer interest
rising and quotations given to over 60 companies worldwide. Again, with
manufacturing nearing capacity, a key component of the kits had to be paused
in Q4 for necessary upgrades to improve the reliability and efficiency of the
manufacturing process to increase volumes. This will enable the Group to
maximise sales of this high-margin product in January 2026, providing
considerable revenue contribution.

 

Qatar project and GCC regional development

 

On 26 September 2025, Metir reported it had completed the final commissioning
of the 27 CTM units in Qatar. Since then, a small number of instruments have
given technical challenges, which are being solved quickly by the Group
working through its partner Avanceon. Consequently, Metir has agreed a
deferred payment schedule with Avanceon for the remaining £198k with payment
due by the end of Q1 2026. This will enable an additional contract performance
payment of £50k to be due during the same period.

 

The majority of the installations are fully operational, and replacement
reagents will be routinely supplied by Metir to allow for continuous
monitoring. Due to this installation in Doha being the first major
state-operated system and an important proof-of-principle site for future
large-scale projects, an initial supply of reagents in Qatar is included in
the contract specification with new reagent revenue expected to start during
early 2027.

 

During mid November 2025, Metir took part in a UK-backed trade mission to the
Kingdom of Saudi Arabia (KSA), engaging with government-linked organisations
responsible for major national water programmes. KSA has the world's largest
potable water desalination capacity and has committed US$105bn to 3,300 new
water projects under its Vision 2030 programme, creating one of the world's
largest markets for advanced water-safety technologies. Metir is establishing
a marketing team, in conjunction with our regional installation partner
Avanceon, based in Riyadh, to capitalise on KSA market opportunities for
real-time screening for toxins in potable desalinated water.

 

Metir has also secured space on the UK Trade Pavilion at the forthcoming IFAT
exhibition in Riyadh from 26-28 January 2026. IFAT is the leading regional
water and waste management event and conference, with the Trade Pavilion
supported by the UK Department of Business and Trade.

 

Growth and working capital

 

The Group's cash balance as of 1 December 2025 is £147k, which is slightly
lower than forecast. The Group has been investing in increased manufacturing
and additional payments made to our  manufacturer for components required for
the next batch build of LX instruments. Excluding invoices to be issued for
additional LX instruments being shipped in December, current receivables are
£317k. Given the invoiced sales and forecasts, the Group is comfortable that
it has sufficient projected revenue and cash resources for the foreseeable
future.

 

The Board considers investment in manufacturing and product development as
essential. This is consistent with the Group's strategy to grow revenue
streams from existing product lines while conducting near-term investment in
product and supply chain enhancement to support long-term revenue and profit
growth. With a new business development function recently hired, Metir is
expanding its international distributor network and build on the success
currently being experienced in Qatar for further CTM installations.

 

Bob Moore, Executive Chairman and Chief Executive Officer of Metir plc,
commented:

 

"I am proud of our talented team and the progress Metir has achieved so far
this year. The increased customer demand has exceeded management expectations.
Looking ahead to 2026, Metir will enter the year with strong momentum in
instrument sales, an expanding international footprint of installed
instruments, and enhanced sales and customer support capability.

 

The Group is also seeing continued growth across Microtox® reagents and SRB
product lines. Our validated technology platforms, scalable recurring-revenue
model and expanding distributor network provide a solid platform for
accelerated growth. Scaling manufacturing capacity is now mission-critical to
meet customer demand and convert our strong commercial pipeline into revenue.

 

The Board considers 2026 as transformational and a pivotal year for growth.
The Group retains the characteristics of an agile, entrepreneurial technology
company, with world-class products and a pipeline of unique innovative
technologies under development. The Group has invested in manufacturing growth
and product development which includes use of proceeds of the successful June
2025 fund raise. Accordingly, EBITDA profitability is likely to be deferred
until 2026 given our planned investment profile.

 

Against a backdrop of tightening global regulation, rising water scarcity and
increasing need for real-time monitoring, Metir is a global leader in
fast-response environmental testing technologies."

 

-      Ends -

 

Enquiries:

 

 Metir plc                                                   +44 (0) 20 3657 0050

 Bob Moore, Executive Chairman and Chief Executive Officer   via TPI

 Singer Capital Markets                                      +44 (0)20 7496 3000

(Nominated Adviser & Joint Broker)

 Alex Bond / Oliver Platts

 Turner Pope Investments (TPI) Limited                       +44 (0) 20 3657 0050

(Joint Broker)

 Andrew Thacker / Guy McDougall

 

 Northstar Communications (Investor Relations)  +44 (0) 113 730 3896

 Sarah Hollins

 

About Metir

 

Metir plc is a leading global provider of fast response, mobile and
point-of-use water and environmental testing technology. Through its two
established trading divisions, Modern Water and Microsaic Systems a specialist
in mobile PFAS monitoring, the Company develops and supplies innovative,
easy-to-use solutions that deliver rapid, accurate water and liquids quality
results, helping industries, utilities and regulators monitor safety and
compliance in real time.

 

With a strong focus on data-driven insight and field-ready design, Metir's
technology supports critical decision-making across sectors, including
environmental monitoring, public health and industrial process management.

 

Headquartered in York, UK, Metir serves worldwide customers and is dedicated
to advancing water testing standards through innovative, accessible solutions.

 

For more information, please visit: https://www.metirplc.com
(https://www.metirplc.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEAFAFEDESFAA



            Copyright 2019 Regulatory News Service, all rights reserved