REG - Solid State PLC - Trading Update

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RNS Number : 5349Z  Solid State PLC  08 April 2026

 

Solid State plc

("Solid State", the "Group" or the "Company")

Trading Update

 

Strong year-end trading delivers results ahead of expectations

 

Solid State plc (AIM: SOLI), the specialist value added component supplier and
design-in manufacturer of computing, power, and communications products,
announces a trading update for the year ended 31 March 2026 (FY25/26) and
provides an update on its trading outlook.

The Directors are pleased to report the Group has had a strong end to the
FY25/26, building on the positive momentum achieved in the first three
quarters.

This strong trading means revenue is expected to be ahead of consensus market
expectations(1) and not less than £150m and adjusted profit before tax will
accordingly also be ahead of consensus(1) market expectations for FY25/26.

All three divisions have performed strongly:

·      Components delivered strong year on year improvement benefitting
from exciting new design wins in the UK and the US underpinned by improved
market conditions.

·      Power has seen significant improvement benefitting from the
management re-organisation and investment in capabilities. We have seen strong
demand from the drone and other autonomous technology applications with
significant new and emerging defence opportunities.

·      Systems performance reflects continuing strong demand for
communications products in the period combined with building opportunities for
its antenna and integrated systems capabilities. While these growth
opportunities are not fully reflected in the revenue in the period, they
underpin the expected sales mix enhancement going forward.

The open orderbook as at 31 March 2026 of c.£106.5m (30 Nov 2025: £97.0m),
has increased primarily as a result of strong order intake in the Power
division since our December update, amounting to approximately $20m. As
previously reported, the open order book includes an initial order from a new
Communications customer announced in Q3, with shipments scheduled for Q1
26/27.

The majority of the open orderbook is expected to be delivered over the next
18 months, subject to supply chain availability. In recent weeks lead times
have started to extend significantly for certain components due to the demand
arising from the adoption of AI and the impact of geopolitical instability.
The Group is pro-actively engaged with customers to manage any potential
impact going forward.

Despite this we are encouraged by the progress made against our strategic
objectives. We continue to invest in building out our capabilities and
capacity to meet the customer needs which strengthens the platform for
sustainable mid-term performance and growth.

Commenting on trading, Nigel Rogers, Chairman of the Board, said:

"It is very pleasing to be upgrading expectations for the year ended 31 March
2026 and reporting positive momentum in the open orderbook.

Against a backdrop of heightened global tensions, governments are prioritising
defence and security. While the context is challenging, it is leading to
increased demand for our technology and capabilities from both new and
existing customers. We are approaching this with a strong sense of
responsibility, focused on supporting our customers effectively while
maintaining strict oversight on risk, governance, and compliance.

"We are also mindful of the macroeconomic effect of regional conflicts, and
the resulting uncertainties on supply side constraints which are as yet
unclear.

"Despite these uncertainties, Solid State is very well placed to fulfil the
demand for sovereign technology and capability both in the UK and the US, and
benefits from the resilience that is derived from our exposure to other
structural growth markets."

(1)The Company considers the average of the most recently published research
forecasts prior to this announcement by all providers - Cavendish Capital
Markets Ltd, Berenberg Capital Markets LLC and Zeus Capital Ltd to represent
market expectations for Solid State.

 

 Market Expectations          FY25/26   FY26/27
 Revenue                      £145.0m   £149.4m
 Adjusted profit before tax*  £7.2m     £8.1m

 

* Adjustments relate to IFRS 3 acquisition amortisation, share based payments
charges and non-recurring charges in respect of re-organisation
cost/acquisition costs and fair value adjustments.

 

Investor Site Visits to Head Office in Redditch

Solid State holds site visits to its head office in Redditch where operations
from both the Systems and Components divisions can be seen.  Interested
investors should contact solidstate@walbrookpr.com
(mailto:solidstate@walbrookpr.com) .

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.

 

For further information please contact:

 

 Solid State plc                                            Via Walbrook

 John Macmichael - Chief Executive

 Peter James - Chief Financial Officer
 Cavendish Capital Markets Limited                          020 7220 0500

 (Nominated Adviser & Broker)

 Adrian Hadden / Callum Davidson (Corporate Finance)

 Jasper Berry / Matt Lewis (Sales / ECM)
 Walbrook PR (Financial PR)                                 020 7933 8780

 Tom Cooper / Nick Rome                                     0797 122 1972

                                                            solidstate@walbrookpr.com (mailto:solidstate@walbrookpr.com)

 

Analyst Research Reports: For further analyst information and research see the
Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 

Notes to Editors:

Solid State plc (AIM: SOLI) is a leading value-added electronics group
supplying industrial and defence markets with durable components, assemblies
and manufactured systems for use in critical applications, with a particular
emphasis on harsh operational environments. Solid State's products are found
around the world, from the ocean floor and into space, ensuring the smooth
operation of systems that augment our everyday lives.

The Company has a core focus on industrial and ruggedised computing, battery
power solutions, antennas, secure radio systems, imaging technologies, and
electronic components & displays.

Operating through three divisions (Systems, Power and Components) the Group
thrives on complex engineering challenges, often requiring design-in support
and component sourcing. Serving a wide range of industries, with a particular
focus on defence, energy production, aerospace, environmental, oceanographic,
industrial, robotics, medical, life sciences, and transportation, the Solid
State trading brands have become synonymous with quality and reliability. The
Group operates under the brands of Steatite, Solsta, Custom Power, Pacer,
Active Silicon, Gateway, Durakool and Q-Par.

Solid State plc is headquartered in Redditch, UK, and employs over 425 people
around the world. The business has seven production facilities in the UK and
one in the USA. In total, including all office locations, the Group operates
from 13 national and international sites.

Solid State was established in 1971 and admitted to AIM in June 1996. The
Group has grown organically and by acquisition - having made five acquisitions
in the last five years.

Take a look at the videos below for more insight into the Solid State Group.

Introduction to Solid State - https://youtu.be/1M_Q_B1mYic
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_1M-5FQ-5FB1mYic&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=At43cSgB_l2_aLDoWAG1btwtdQsj0fGFEOvZuRER61Y&e=)

Why invest in Solid State? - https://youtu.be/ShmTz6005ws
(https://urldefense.proofpoint.com/v2/url?u=https-3A__youtu.be_ShmTz6005ws&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=3dW1DsO04w3fOD5H-7rw_kFgcxacpqn1XcdwanaeIt0GZ7CA-Ex3GbIRbrY8H0Qp&s=BRSABtV1H6lx3GEpH8ZgxTINGT_PRgrBvEbFa-O11Yg&e=)

 

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