RE: Rerating3 Jun 2025 09:58
Agree Dibs, this is still priced as if it will run out of cash rather than a company that is generating cash.
Out of interest I calculated the last five half year turnover per sector figures from H1 2023 to H1 2025
Energy £1.9m, £1.5m, £0.8m, £1.1m, £1.2m
Industrial £0.9m, £0.8ml, £0.8m, £1.1m, £0.6m
Aerospace £0.1m, £0.3m £0.5m, £0.4m, £1m
This shows how erratic income is from the Energy and Industrial sectors so it's good to see Aerospace revenue turning over more in H1 2025 than it did for the whole of 2024. It’s unlikely that the jump in aerospace revenue is totally due to the new Airbus agreement as the guidance for FY 25 was a minimum of £0.5m, in the H1 results it was said that ………. “ Additional production readiness revenues and initial production revenues from this contract are expected in the second half year”
I think this may well be additional revenue from the first Airbus agreement which said this in the 2023 RNS............. "Initial components are expected to be coated in June 2023 with regular monthly volumes thereafter. Airbus is currently producing 50 A320 aircraft per month with plans to increase this to 75 per month by 2026".
Either way aerospace revenue is becoming increasingly significant with about 85% of this being regular monthly income from Airbus