REG - Zytronic PLC - AGM Trading Update

ZytronicAnnouncement

29/02/2024 07:00

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RNS Number : 8723E  Zytronic PLC  29 February 2024

Zytronic plc

("Zytronic" or the "Company",

and together with Zytronic Displays Ltd, the "Group")

AGM Trading Update

Zytronic, a leading specialist manufacturer of touch sensors, provides the
following trading update ahead of the AGM being held at the Company's offices
at 1.00 p.m. today.

 

As noted in the Annual Results release for the financial year ended 30
September 2023 ("FY23"), the trends observed during the first quarter of FY24
are continuing in the second quarter to date. Management expectations are
unchanged in that the positive impact resulting from the conversion of the
opportunities pipeline (which has generally shown an improving trend since
FY21) will likely be realised from the latter half of FY24 or early FY25
onwards.

 

The recently appointed Sales Director, together with his international team
and channel partners, has now concluded the comprehensive re-evaluation of the
existing 'Open' opportunities pipeline described in the FY23 Annual Results
release. As at 31 January 2024, a total of 464 opportunities are classified as
Open with a total projected lifetime value of £58.5m (30 September 2023,
prior to re-evaluation: £68.6m).

 

During the Global Gaming Expo in October 2023 and the Integrated Systems
Europe Expo which took place in February 2024, the Group unveiled several new
products including complete interactive large format and round format tables.
These offerings garnered significant interest, as did other demonstrations
showcasing the technical capabilities of its specific PCAP technology enabling
unique hybrid button concepts and interactivity through a range of materials
including concrete, wood, leather and Corian®.

 

While disciplined cost control remains a priority during this period of
reduced revenue generation for the Group, management recognises the need for
increased investment in personnel, travel, marketing, and product development,
as the Group continues to position itself for future performance improvement.

 

The Group's net cash balance as at 31 January 2024 stood at £4.1m.

 

The Company expects to provide a further update in its FY24 Interim Results,
scheduled to be released during May 2024.

 

 Enquiries:
 Zytronic plc                           0191 414 5511

 Mark Cambridge, Chief Executive

 Claire Smith, Group Finance Director

 Singer Capital Markets                 020 7496 3000
 (Nominated Adviser & Broker)
 Aubrey Powell, Alex Bond, Finn Gordon

 

About Zytronic

The Group's operating subsidiary Zytronic Display Ltd ("ZDL") is a
world-renowned developer and manufacturer of a unique range of internationally
award-winning optically transparent interactive touch sensor overlay products
for use with electronic displays in industrial, self-service and public access
equipment.

ZDL's products employ a sensing solution that is readily configurable and is
embedded in a laminate core which offers significant durability, environmental
stability, and optical enhancement benefits to meet system-specific design
requirements.

ZDL has continually developed process and technological know-how and IP since
the late 1990's around two projected capacitance ("PCAP") sensing
methodologies; trademarked by as PCT™ ("Projected Capacitive Technology")
and MPCT™ ("Mutual Projected Capacitive Technology"), in which 15
internationally granted patents are held.

The Group is headquartered at Blaydon-upon-Tyne in the United Kingdom.  ZDL
operates from this site, providing its manufactured products globally through
a number of sales channel partners. ZDL is relatively unique in the touch
eco-system as it offers a complete one-stop solution including processing
internally of the form and factor of glass and film substrates, the assembly
of the associated touch overlay products, in environmentally controlled
cleanrooms to customers' specific requirements and the development of the
bespoke firmware, software and electronic hardware which links the
manufactured touch interactive overlays to customer's integrated systems and
product.

For more information about ZDL's technologies and products please see
www.zytronic.co.uk (https://www.zytronic.co.uk/) and for information about the
Group, please see https://www.zytronicplc.com (https://www.zytronicplc.com)

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