REG - Niox Group PLC - AGM Statement

NioxAnnouncement

14/05/2025 07:00

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RNS Number : 5178I  Niox Group PLC  14 May 2025

NIOX Group plc

("NIOX" or the "Company" and, together with its subsidiaries, the "Group")

 

AGM Statement

( )

Oxford, UK - 14 May 2025: NIOX Group plc (AIM: NIOX), a medical device
company focused on point of care asthma diagnosis, monitoring and management,
is holding its Annual General Meeting (the "AGM") at 11.00 am today at the
Magdalen Centre, 1 Robert Robinson Ave, The Oxford Science Park, Oxford, OX4
4GA.

 

Trading update

 

We are pleased to report that our business has performed well in the first
four months of the year, with NIOX sales growing 21%(1).

 

The clinical business has delivered sales growth of 10%(1), which is in line
with management's expectations.

 

The research business has had a strong start to the year, with revenues more
than double those achieved in the first four months of 2024 and ahead of
management's expectations at this point in the year.  This strong and
encouraging start is due to an increase in clinical trial activity that
includes the use of FeNO testing in both asthma and COPD. It is too early to
discern whether this strong performance will persist throughout the year, as
clinical trial demand is outside of NIOX's control.

 

Net cash as at 30 April 2025 totalled £14.5m after the payment of prior year
bonuses in April, compared to £10.9m at 31 December 2024.

 

One-off exceptional costs associated with the withdrawn bid from Keensight
totalled £0.3m.

 

Business priorities for 2025

 

The Group continues to focus on its core priorities for 2025, which are:

·      Acceleration of the penetration of FeNO testing and the use of
NIOX® in the US.

·      Launch of the NIOX PRO® device, which remains on track for first
sales to be made in Q4 2025.

·      Commencement of the initial development work on the NIOX MyNO®
home-use device.

 

US tariffs

 

At the current planned levels, we do not expect US tariffs to have a material
impact on our business, and we intend to pass on any related increases to our
cost base through higher pricing where possible.

 

Board Changes

 

As previously announced, Michael Roller will retire from the Board as CFO at
today's AGM and be replaced by Sarah Duncan. Ian Johnson will move to
Non-Executive Chairman.

 

NIOX expects to give a trading update in July in respect of the six month
period ended 30 June 2025.

 

(1)Growth rates provided are on a constant currency basis.

 

-Ends-

 

 For further information, please contact:

 NIOX Group plc                                               +44 (0) 3303 309 356

 Jonathan Emms, Chief Executive Officer

 Michael Roller, Chief Financial Officer

 Sarah Duncan, Chief Financial Officer Designate

 Singer Capital Markets (Nominated Adviser and Joint Broker)  +44 (0) 20 7496 3000

 Jen Boorer / James Fischer / James Todd

 Investec Bank plc (Financial Adviser and Joint Broker)       +44 (0) 20 7597 4000

 Ben Lawrence / Lydia Zychowska

 

 

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