Trading Statement

CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to provide the following trading update, demonstrating a third consecutive year of improvement in underlying profit before tax.

As previously announced the Group expects to report revenues for FY25 of at least $113 million, in line with current market expectations, with net debt at 31 December 2025 expected to be $7.7 million. Adjusted profit before tax is expected to be at least $10.0 million.¹

Whilst revenues were broadly unchanged from the prior year, reflecting ongoing market uncertainty, CT Automotive has significantly improved underlying profit before tax for the third consecutive year demonstrating that our relentless focus on operational efficiency is delivering sustained results.

Reported underlying profit before tax was impacted by approximately $0.4 million of launch-related costs, incurred in Q4, as the Group successfully executed six new program launches in Mexico. Costs are now under control, and production has returned to targeted efficiency levels. There is also a non-cash stock valuation adjustment as a consequence of improved production efficiency and lower manufacturing cost rates, which reduced the year-end inventory valuation.

Contract Wins

Building on new contracts which CT Automotive has secured in H125 (and announced in our interim results in September), CT Automotive has secured a further 7 contracts in H225 with annualized revenue of approx. $10 million*. Program launches are scheduled for 2027 and 2028. This brings total new contract wins for CT Automotive in FY25 to 15 with an expected annualized revenue of approx. $47 million when all programs are fully operational by 2028. This is a significant improvement on new business wins in previous years (FY24: 8 new contract wins).

Outlook

Looking ahead the Group is well positioned for FY26. The successful completion of multiple major program launches in Mexico, improving operational execution across all facilities, and a continued focus on cash discipline and working capital management provide a solid foundation for the year ahead.

Due to ongoing market uncertainty, the Board is taking a conservative approach to FY26 revenue and profitability which is now expected to be modestly ahead of FY25, with the benefits of recently launched programs contributing more fully as they mature through the year.

The Board is pleased with the sustained improvement in the Group's underlying profit before tax over the last three years. In FY26 CT Automotive will focus on broadening its customer base and increasing content per platform as well as targeting a reduction in inventories and driving further operational efficiencies across global operations.

Simon Phillips, Chief Executive Officer of CT Automotive said:

"I am delighted that our relentless drive for operational efficiency has produced sustained continuous improvement in our underlying profit before tax. Our focus remains on increasing top-line revenue and to that end our expanded sales team are now fully embedded and working hard to win new business and increase platform content across models. Contract wins have increased to 15 this year, a significant improvement on previous years. Our operations are positioned to accommodate increased production without additional cost pushing profitability directly to the bottom line"

¹ Immediately prior to this announcement, the Company believes that market expectations for the year ended 31 December 25 were for revenues of $113m and adjusted Profit Before Tax of $10.5m respectively.

*In aggregate, once all contracts are operational.

Listen to CEO Simon Philips provide further insight on this trading update

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