UK's Strip Tinning H1 revenue rises, EBITDA loss narrows
UK's Strip Tinning H1 revenue rises, EBITDA loss narrows
Overview
UK automotive electrical connector maker's H1 2026 revenue grew 18% yr/yr
Adjusted EBITDA loss for H1 2026 narrowed by 49% yr/yr
Company received £3.0 mln DRIVE35 grant to support manufacturing scale-up
Outlook
Company expects performance to strengthen in H2 2026 as production volumes ramp up
Company says automotive sector remains challenging due to tariffs and geopolitical uncertainty
Result Drivers
PROGRAMME LAUNCHES - Revenue growth attributed to successful launch and ramp-up of three major programmes, including battery and smart-glass products
BATTERY TECHNOLOGIES - Battery Technologies revenue rose 62% yr/yr, driven by Cell Contacting System programme ramp-up and electrification investment
MARGIN PRESSURE - Gross margin declined due to increased outsourcing costs and lower proportion of pre-serial prototype sales; management expects margin improvement as production scales
Company press release: ID:nRSQ1011Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Loss |
| GBP 1.29 mln |
|
H1 Adjusted EBITDA |
| -GBP 145,000 |
|
H1 Gross Margin |
| 38.30% |
|
H1 Operating Loss |
| -GBP 837,000 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Reuters Recommended Reads
Sept 15 - UK's Eleco H1 revenue rises 8% amid portfolio changes
Sept 15 - UK's Wickes sees sales pick up as customers chase value
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)