REG - Xaar PLC - Trading update & notification of full year results

XaarAnnouncement

15/01/2025 07:00

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RNS Number : 3364T  Xaar PLC  15 January 2025

15(th) January 2025

 

Xaar plc

 

2024 trading update and notification of full year results

 

Xaar plc ("Xaar", the "Group" or the "Company"), the leading inkjet printing
technology group, today issues a trading update.

 

Revenue in the twelve months to 31(st) December 2024 is expected to be
approximately £62.7 million (FY23: £70.6 million).  Revenue growth in new
markets has been encouraging but ongoing and significant weakness in ceramics,
particularly through the second half year, has held back overall results.
Gross margin rates are in line with expectation and, coupled with careful cost
management, means the Group anticipates reporting a modest full year adjusted
profit before tax (FY23: £2.9 million) in line with previous expectations.
The year-end net cash position remains robust at some £8.2 million (FY23:
£5.7 million) and the Group's £5 million revolving credit facility remains
undrawn.

 

Further to the announcement on the 20(th) November that Paul James was
appointed Interim CFO and Executive Director, a separate statement was
released today confirming that Paul has been appointed to the role on a
permanent basis. Paul brings significant expertise and experience to the
business and his appointment, which followed a rigorous recruitment process,
delivers stability to the Group leadership team early in the financial year.

 

The Group remains optimistic about future growth in printhead revenues.
There are a significant number of immediate opportunities in our pipeline,
particularly in exciting new applications where Xaar technology has
competitive advantage.  What remains uncertain is the exact timing of
commercial adoption, something which is influenced by broader market
factors.  At present there are a wide range of outcomes possible for FY25.
As the Board expects greater visibility by the time of the full year results,
we will provide an outlook for FY25 at that time.

 

The full year results will be published on Tuesday 25(th) March 2025. The
Group will host a meeting for analysts and institutional investors at 9.15am
on the day. For details, please contact Xaar via Xaar_IR@cen-grp.com
(mailto:Xaar_IR@cen-grp.com) .

 

Contacts:

 

 Xaar plc                             +44 (0) 1223 423 663
 John Mills, Chief Executive Officer
 Paul James, Chief Financial Officer

 CEN                                  Xaar_IR@cen-grp.com
 Chris Dyett
 Stephen Lamacraft

 

 

 

 

About Xaar plc

 

Xaar is an inkjet innovator, providing printheads and technologies for OEM and
UDI customers worldwide.

 

By helping customers lay down precise volumes of inks and fluids with absolute
pin-point accuracy, time after time, Xaar's inkjet printheads and technologies
meet the needs of numerous markets. Covering graphics, labelling,
direct-to-shape, packaging, product decoration, ceramic tile and glass
decoration, textiles, 3D, décor, and outer case coding applications - as well
as printing with specialist functional fluids for advanced manufacturing
techniques.

 

Collaboration is at the very core of its business. Xaar works as a trusted
partner from sites in Europe and China, providing expert insights and
technical support every step of the way.

 

With over 30 years' experience, around 200 patents registered or pending, and
major ongoing R&D investment, Xaar's digital printhead and precision
jetting technologies create infinite opportunities for today's sustainable
manufacturing innovation.

 

 

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