REG - Nexteq PLC - AGM Statement

NexteqAnnouncement

Tue 07:00

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RNS Number : 5052G  Nexteq PLC  29 April 2025

29 April 2025

 

Nexteq plc

 

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

 

AGM Statement

 

The Annual General Meeting ("AGM") of Nexteq plc (AIM: NXQ), a leading
technology solutions provider to customers in selected industrial markets,
will be held today at 10:00am at the Group's offices at The Galleria, Station
Road, Crawley, RH10 1WW.

 

At the AGM, Nexteq Chair, Carol Thompson, will make the following statement:

 

"The Board remains confident in achieving 2025 full year market
expectations(1). Despite the global uncertainty relating to the introductions
of tariffs, we have a strong track record managing our supply chain and we are
working tirelessly with suppliers and customers to navigate any potential
disruption that may arise.

 

"The Board is committed to the Group's three-year plan as presented at the
Capital Markets Day in February 2025, including our plans to deliver
meaningful organic growth through a renewed focus on innovation and a more
diversified business model.

 

"Meanwhile, margin performance remains as expected, and our objective to
refocus resources to deliver the three-year plan, as well as operational
synergies, is progressing as planned.

 

"As has historically been the case, we have generated positive cashflow,
additive to our healthy cash balances and debt free position. This provides a
robust foundation to trade through the uncertainty and invest for the
future.  Our net cash position is $30.2m at 31st March 2025.

 

"The business is well positioned to deliver the objectives of the three-year
plan, which includes the creation of innovative new software and hardware
products and services across new sectors and geographies."

 

(1) (Current consensus is $85.5m revenue, $6.0m adjusted EBITDA and $3.6m
adjusted PBT)

 

 Nexteq PLC

 Duncan Faithfull, Chief Executive Officer        Telephone: +44 (0)20 3597 6800

 Matt Staight, Chief Financial Officer
 Nominated Adviser and Broker:

 Cavendish Capital Markets Ltd

 Matt Goode / Edward Whiley (Corporate Finance)

 Tim Redfern / Harriet Ward (Corporate Broking)   Telephone: +44 (0)20 7220 0500

 Financial PR:

 Alma Strategic Communications                    Telephone: +44 (0)20 3405 0205

 Hilary Buchanan / Emma Thompson

 

About Nexteq

Nexteq (AIM: NXQ) is a strategic technology solutions provider to customers in
selected industrial markets. Its innovative technology enables the
manufacturers of global electronic equipment to outsource the design,
development and supply of non-core aspects of their product offering. By
outsourcing elements of their technology stack to Nexteq, customers can focus
their product development effort on the most critical drivers of their
business' success.

 

Our solutions are delivered through a global sales team and leverage the
Group's electronic hardware, software, display and mechanical engineering
expertise. Our Taiwan operation is at the heart of Asian supply networks and
facilitates cost effective manufacturing and strategic supply chain
management.

 

The Group operates in six countries and services over 500 customers across 47
countries.

 

Nexteq operates two distinct brands: Quixant, a specialised computer platforms
provider, and Densitron, leaders in human machine interface technology, each
with dedicated sales, account management and product innovation teams. Founded
in 2005, and later floating on the London Stock Exchange's AIM stock market as
Quixant plc, the Group rebranded to Nexteq in 2023.

 

Further information on Nexteq and its divisions can be found
at www.nexteqplc.com (http://www.nexteqplc.com/) .

 

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