16 January 2025
AB
Dynamics plc
AGM
Trading Update
AB Dynamics plc ("AB Dynamics", the
"Company" or the "Group"), the designer, manufacturer and supplier
of advanced testing, simulation and measurement products to the
global transport market, issues the following trading update, to
coincide with the Company's Annual General Meeting taking place
later today.
Current trading
Further to the outlook commentary
provided in the Group's FY 2024 results, published on 26 November
2024, the Board is pleased to report that Group trading continues
to show positive momentum, and that performance over the first four
months of FY 2025 has been in line with its
expectations.
Market activity continues to be
positive with strong order intake in the period, particularly in
Asia Pacific and North America, and tenders have been submitted for
the renewal of long-term testing services contracts in China for
delivery in FY 2026 and beyond. The Group has a solid order book,
providing good visibility into the second half of the year, and the
integration of Bolab Systems is progressing as planned.
Financial position
The balance sheet remains robust
with net cash at 31 December 2024 of £23.2m (31 August 2024: £28.6m) after the
initial cash consideration payment of £4.2m for the
acquisition of Bolab Systems.
The Group's strong cash position and
ongoing cash generation leave it well positioned to continue to
invest in organic growth opportunities and further value enhancing
acquisitions.
Outlook
Whilst continuing to be mindful of
the timing of pipeline conversion due to potential disruption in
elements of the automotive market and customer delivery schedules,
the Board remains confident that the Group will make further
financial and strategic progress this year, and its expectations
for FY 2025 are unchanged. Future growth prospects remain supported
by long-term structural and regulatory growth drivers in active
safety, autonomous systems and the automation of vehicle
applications.
Note: Company compiled analyst expectations for the year
ending 31 August 2025 is for adjusted operating profit of
£21.9m.
Enquiries:
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AB
Dynamics plc
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01225 860 200
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Dr James Routh, Chief Executive
Officer
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Sarah Matthews-DeMers, Chief
Financial Officer
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Peel Hunt LLP (Nominated Adviser and Joint
Broker)
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0207 418 8900
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Mike Bell
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Ed Allsopp
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Stifel Nicolaus Europe Limited (Joint
Broker)
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0207 710 7600
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Matthew Blawat
Harry Billen
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Teneo
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0207 353 4200
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James Macey White
Matt Low
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The person responsible for arranging
the release of this information is David Forbes, Company
Secretary.
