Year End Trading Update
Hardide PLC reported a trading update for the financial year ended September 30, 2025, with revenues increasing by over 25% to £6.0m, up from £4.7m in FY24. This revenue growth is attributed to new recurring work in the aerospace sector and new development work in the energy sector. The Board anticipates a materially improved EBITDA of approximately £1m for the year, compared to break-even in FY24, resulting in an EBITDA margin of over 16% and a positive earnings per share. The Group's net debt, including leases, stood at £1.6m at the end of September 2025, a decrease from £2.1m the previous year. The cash balance increased to £0.8m from £0.7m. The board aims to double revenues from FY24 to at least £10m over the next few years.
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Hardide plc (AIM: HDD), the developer and provider of advanced surface coating technology, is pleased to provide a pre-close trading update for the financial year ended 30 September 2025 ("FY25").
Revenues grew by over 25% to £6.0m (FY24: £4.7m), driven by the new recurring work in the aerospace sector announced in the early part of the year and new development work won more recently in the energy sector.
The Board expects this growth to deliver a materially improved EBITDA result for the year of approximately £1m (FY24: break-even*) at an EBITDA margin of over 16%, together with a positive earnings per share outcome for the first time in many years.
The Group's net debt (including leases) at 30 September 2025 was £1.6m (30 September 2024: £2.1m). Within this, the cash balance was £0.8m compared with £0.7m a year ago, despite some working capital absorption ahead of the financial year end due to strong trading in the final quarter. This included initial development work with new customers in North America and the Middle East within the energy sector.
Whilst mindful of continuing global economic uncertainties, the Board remains confident in the Group's prospects, supported by increasing market adoption of Hardide's unique surface coating technology.
The Board remains highly focused on delivering its medium-term objective to double revenues from FY24 levels to at least £10m over the next few years, leveraging existing spare capacity to drive significant operating margin and earnings growth.
Notes:
The Group expects to announce its full audited annual results for FY25 in late January 2026. All figures relating to FY25 provided above are unaudited.
*Prior to one-off restructuring costs of £0.4m in FY24
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