REG - SRT Marine Systems - FY25 – Year End Trading Update

SRT Marine SystemsAnnouncement

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RNS Number : 2582Q  SRT Marine Systems PLC  09 July 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

FY25 - Year End Trading Update

SRT Marine Systems plc ('SRT'), a global provider of integrated maritime
surveillance and MDA management systems and technologies for security, safety
and environmental protection hereby provides a trading update for the 12
months ending 30(th) June 2025.

FY25 Financial Summary (Unaudited)

                                                  FY25     FY24*      % change
 Group Revenue                                    £77.5m   £14.8m     423%
 Profit / (Loss) before tax and exceptional item  £4.4m    £(14.4)m   n/a
 Gross cash balance (excluding restricted cash)   £4.2m    £2.8m      50%

*FY24 refers to the fifteen month period ending 30 June 2024

Highlights

·    $213m system contract signed with the Kuwait Coast Guard in October
2024.

·    System contracts with an aggregate of £320m now active and being
implemented.

·    Current new system prospects validated pipeline valued at up to
£1.4bn.

·    New NEXUS transceiver expected to start shipping in H1 FY26.

·    Financial guidance reintroduced by Cavendish.

H1 Financial and Operational performance

Subject to audit, we expect revenues for the period to be £77.5m, generating
a profit before tax and non-cash exceptional finance charge of £4.4m.
Aggregate gross cash balances at 30(th) June 2025, were £9.9m with trade
receivables amounting to £48.4m, the majority of which are expected to be
received shortly after the year end.

During the period our systems business which develops and delivers turn-key
integrated maritime C5iSR surveillance and MDA management systems generated
revenues from five separate sovereign customers each of whom are building up
their national MDA capacities with SRT. Additionally, we have continued to
develop our validated pipeline of new system contracts which now has an
estimated value of approximately £1.4bn, from which we expect further
closures in due course.

Our transceivers business which develops and delivers navigation safety and
communication devices and solutions for commercial and leisure marine markets
continued to expand distribution and we are finalising the development of the
new NEXUS product which will start shipping in H1 of the new financial year.
Whereupon we will move forward with new product developments aimed at
leveraging our global commercial and leisure marine distribution networks.

We expect to issue our full year end results in November 2025 and hold our AGM
in early December 2025: a further announcement with specific dates will be
made in early September.

Simon Tucker, SRT CEO said; "This year's performance is a reflection of our
proven technologies and products, and SRT's established position in the global
maritime surveillance and management market. This market remains in its early
stages of development as marine stakeholders seek to harness digital
technologies such as AI to reveal insights that enable them to enhance
security, safety and sustainability and therefore I expect to continue to see
our business grow substantially from this base in the future."

  For further information, please contact:
 SRT Marine Systems plc                                                    www.srt-marine.com (http://www.srt-marine.com)

                                                                           + 44 (0) 1761 409500
 Simon Tucker (CEO)                                                        simon.tucker@srt-marine.com (mailto:simon.tucker@srt-marine.com)
 Louise Coates (Marketing Manager)                                         louise.coates@srt-marine.com (mailto:louise.coates@srt-marine.com)

 Cavendish (NOMAD & Broker)
 Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)     +44 (0) 20 7220 0500
 Tim Redfern (ECM)
 Yellow Jersey PR
 Charles Goodwin / Annabelle Wills                                         +44 (0)774 7788 221

                                                                           srt@yellowjerseypr.com (mailto:srt@yellowjerseypr.com)

About SRT Marine Systems plc:

SRT Marine Systems PLC is an established leader in the growing global market
for maritime domain awareness. We provide advanced technologies, products and
systems, that integrate multiple proprietary technologies such as advanced
analytics, data fusion, augmented visualisation, that enhance maritime safety,
security and environmental protection and sustainability. Our customers range
from governments to vessel owners around the world.

 

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