Autins Group Regulatory News (AUTG)

Autins Group plc

("Autins", the "Company" or the "Group")

Final Results

"Moving to the 'Thrive' stage of our long-term growth plan"

Autins Group plc (AIM: AUTG), the UK and European automotive acoustic and thermal insulation specialist, announces its final results for the 12 month period ended 31 March 2026 (FY26). The previous year's results (FY25) cover the 18 month period ended 31 March 2025 following the Company's change of its accounting reference date, announced on 27 June 2024.

Financial Summary

FY26 covers the 12 months ended 31 March 2026, FY25 covers the 18 months ended 31 March 2025 and 12MFY25 is the unaudited 12 months ended 31 March 2025.

Operational Highlights

· First full year under new management team of Andy Bloomer (CEO from April 2024) and Des Dimitrov (CFO from March 2025)

· First profitable year since 2017, a significant milestone for the Group

· Record gross margins showed an improvement of over four percent

· £15 million of new business awards secured during the year

· Continued growth in continental Europe via German and Swedish subsidiaries

· Ongoing investment in advanced production equipment for improved efficiency and capacity

· Business resilience illustrated by the response to the cyber-attack on our largest customer in September 2025; our diversified customer base and improved financial flexibility limited the financial impact and ensured operational readiness for resumption of production

· New opportunities from products such as AuDuct and AuTrim, supporting our flagship product Neptune

· The CBILS loan was fully repaid in June 2026

· Our existing MEIF loan was fully repaid in May 2026 and a new MEIF II agreement was entered into in May 2026 for £1.0m repayable over four years

Outlook

· As stated in our trading update on 5 May 2026, the Board continues to guide FY27 revenues of £22m and a profit after tax (PAT) of £0.8m, weighted to the second half of the financial year based on the current order schedule. For FY28, the Board continues to guide revenues of £26m and PAT of £1.4m. Both years are in line with market expectations. In addition, the Board is now guiding FY29 revenues of £27m and PAT of £1.9m

· The Group is in a robust market position, with an expanded order book across a diversified customer base, widespread operational efficiencies, stronger finances and a significantly improved gross margin

· The cyber-attack on our largest customer has demonstrated the ability of the business to withstand unexpected disruption; we remain alert to the risks of geo-political developments outside our control

· We are mindful that, as always, vehicle production schedules may slip and volumes may underperform initial assumptions, and have established disciplines to deal with any such eventualities

Note: references above to market expectations reflect the Board's understanding of market expectations for FY27 and FY28, immediately prior to the publication of this announcement.

Commenting on the Final Results, Andy Bloomer, CEO of Autins Group plc, said:

"I am delighted to report that the Group has returned to net profitability for the first time since 2017. Our 'Survive and Thrive' strategy has been proven by a significant gross margin increase, by our new contract wins in the UK and Germany and by the successful refinancing of the balance sheet. Having successfully executed the 'Survive' process, the Group is now firmly positioned to 'Thrive' and we enter FY27 with promising momentum."

Investor Meet Company presentation

The Company will be hosting an investor briefing on the FY26 final results on Monday 29 June 2026 at 11:30am BST.

The presentation is facilitated by Investor Meet Company ('IMC') and is open to all existing and potential shareholders. Questions can be submitted pre-event via the IMC dashboard up until 29 June 2026, 09:00am BST, or at any time during the live presentation. 

Investors can sign up to IMC for free and apply to meet Autins Group plc via:

https://www.investormeetcompany.com/autins-group-plc/register-investor

Investors who already follow Autins Group plc on the IMC platform will automatically be invited.

For further information please contact:

About Autins

Autins is a UK and continental Europe based industrial materials technology business that specialises in the design, manufacture, and supply of acoustic and thermal products. Its key markets are automotive, flooring, office furniture and commercial vehicles where it supplies products and services to more than 160 customer locations across Europe.

 Autins is the UK and European manufacturer of the proprietary Neptune melt-blown material and specialises in the design, manufacture, and supply of acoustic and thermal insulation solutions.

CHAIR'S STATEMENT

Introduction

FY26 has been a year of genuine transformation for the Autins Group. The Group has delivered its first net profit since 2017, despite a backdrop of continued uncertainty across the European automotive sector - including a significant supply chain disruption caused by the cyber-attack on our largest UK customer. Autins' keen focus on its strategy has delivered a gross margin increase, before non-underlying items, of more than 4%, secured significant new contract awards in both the United Kingdom and Germany and secured new long term financing for the business post year end.

These achievements demonstrate the quality and resilience of the entire Autins' team and the strategic clarity that has defined our "Survive and Thrive" programme over the past two years. We set out to do two things: first, to put Autins on a sustainable financial footing; and second, to position it to grow profitably as conditions improved. The "Survive" work is behind us, with the Group now firmly in the "Thrive" phase of our strategy.

I believe Autins enters FY27 better positioned than at any point in its recent history.

Refreshing our Strategy

Following Andy Bloomer's appointment as Chief Executive in April 2024, the Group primarily focused on stabilisation - controlling the cost base, professionalising forecasting and financial reporting, improving Neptune production efficiency, winning business for immediate transfer and on future, new platforms to provide sustained sales growth and meeting all banking commitments. We believe that this work is now largely complete.

Given this success, our attention has now shifted decisively to growth. We see continued demand for our established materials and products and we are focussed on adding new products (AuDuct and AuTrim) that expand our potential sales per vehicle, while maintaining a materials development programme to ensure that our own-manufactured materials remain market leading for both performance and recyclability. 

As we decisively move into the "Thrive" phase of our strategy, we will look to refresh our strategy for the coming years. We expect to be able to provide more details to our shareholders later in FY27.

The Board also continues to monitor opportunities in the wider European automotive supply chain, which is now starting to go through a process of consolidation.

People

Our staff have shown exceptional commitment throughout a year in which we have overcome significant operational challenges. The sudden halt in production at our largest customer in September 2025 required swift and coordinated action across the business. The response of the Autins' team - including the effective deployment of our banked hours system, careful management of raw material orders and rigorous control of discretionary expenditure - limited the financial impact while maintaining the Group's operational readiness for the subsequent resumption of production.

I am grateful to every member of the Autins' team across our UK, German and Swedish operations for their dedication, adaptability and professionalism. It is their collective effort that has made the transformation of recent years possible.

I was also pleased to see Andy Bloomer appointed to the Society of Motor Manufacturers and Traders (SMMT) Executive Board in December 2025. The SMMT is one of the UK's most influential trade bodies, representing manufacturers, suppliers and technology companies across the full automotive value chain. Andy's appointment will ensure Autins remains closely aligned with the sector's priorities and further strengthens the Group's relationships across the industry.

Board

On 19 November 2025, Trevor Brown was appointed as a non-executive director, replacing Dr Qu Li, as Truetide plc's appointed representative. He is the CEO of Truetide plc, which holds approximately 29.1 per cent of the Company's issued share capital. He joined under the terms of the existing Relationship Agreement between Autins, Truetide and our nominated adviser.

As announced on 24 June 2026 Trevor Brown stepped down as a director and I would like to thank Trevor for his contribution and the experience and investor insight he has brought to the Board.

Increased focus on investor engagement

The Board recognises that we need to continue our efforts to invigorate interest in the Group with investors. We have upgraded our website in the year to make the process of finding out about our business as simple as possible. The Board has recently approved additional expenditure to further develop and increase our active engagement with investors to ensure that Autins' transformation is understood and our prospects for future, sustainable growth are fully appreciated by our active and prospective investor base.

Dividend

The Board is not recommending a dividend in respect of the financial year ended 31 March 2026.

The Board recognises the importance of distributions to shareholders and will keep dividend policy under regular review as profitability and cash generation become more firmly established, at which point we will seek to convert our share premium to distributable reserves so that future dividend payments can be made.

Outlook

As stated in our trading update on 5 May 2026, the Board continues to guide to FY27 revenues of £22m and a profit after tax (PAT) of £0.8m, weighted to the second half of the financial year based on the current order schedule. For FY28, the Board continues to guide to revenues of £26m and PAT of £1.4m. Both years are in line with market expectations.

In addition, the Board is now guiding to FY29 revenues of £27m and PAT of £1.9m.

The Board is fully focussed on delivering sustainable, profitable growth, as the Group begins to progress through the "Thrive" stage of its growth strategy. With an expanded and more resilient order book, embedded operational efficiencies, a structurally stronger gross margin and a deleveraged balance sheet, Autins is well placed to capitalise on its strengthened market position. While the Board is mindful that vehicle production volumes may underperform initial assumptions and that the timing of new platform launches can move, it is confident that the combination of new business momentum, margin discipline and financial flexibility will enable the Group to deliver increased profit and long-term value for shareholders.

Note: references above to market expectations reflect the Board's understanding of market expectations for FY27 and FY28 immediately prior to publication of our FY26 results.

Adam Attwood

Chair

CHIEF EXECUTIVE OFFICER'S REVIEW

Introduction

FY26 was an important year of transformation for Autins.

In my first review after joining the business two years ago, I described a Group with good people, products and processes, but one that had spent so long focused on survival that it had lost confidence in what it could become. We created our "Survive and Thrive" strategy to address that.

This year I believe we have seen clear evidence that the strategy is working.

The Group has returned to net profit for the first time since 2017, with improved margins, a strengthened balance sheet, significant new business wins and continued investment in the products, people and capabilities that will drive future growth.

More importantly, FY26 demonstrated that Autins is becoming a stronger, more resilient and more diversified business. We are less reliant on any single customer, our European operations are playing an increasingly important role in our growth, and our investments in innovation and operational excellence are translating into improved financial performance.

Returning to Profit

Returning to profitability is a significant milestone for the Group, for a long time, profitability felt like something that was always just out of reach. This year we delivered it through the improvements we have made in efficiency, margins, cash generation and new business acquisitions that are now beginning to come through in our financial performance.

Returning to profit matters because it demonstrates that the changes we have made are working but there remains significant work to be done. We remain ambitious for what Autins can become and are focused on continuing to improve every part of the business.

Our People

None of what we have achieved would have been possible without our people.

The cyber incident at our largest UK customer created significant disruption during the year and tested the resilience of the business. I was incredibly proud of the way our teams across the UK, Germany and Sweden responded. Our people adapted quickly, supported our customers and remained focused on doing the right things for the business.

Over the last two years our people have repeatedly demonstrated their commitment, professionalism and willingness to embrace change. Whether improving operational performance, supporting customers, launching new programmes or driving efficiencies, our people have consistently stepped up when it mattered.

I would like to thank every employee across the Group for their contribution. The progress we have made belongs to them.

Building a More Resilient Business

Over the last two years we have transformed the performance of our German operation, improved the integration of our UK, German and Swedish businesses, enhanced the efficiency of our Neptune manufacturing process and significantly strengthened our financial position through improved cash generation and debt reduction to the point we made our final legacy debt repayment in June 2026.

The cyber incident at our largest UK customer during FY26 demonstrated the value of that work. While the disruption was significant, the impact on Autins was far more manageable than it would have been only a few years ago. Our growing European customer base, improving operational flexibility and stronger financial position allowed us to respond quickly while continuing to support customers and invest in future growth.

Today, Autins is less reliant on UK automotive production than at any point in its recent history and increasingly benefits from a broader customer base and a more diversified revenue stream.

FY27 - A Year of Execution

If FY25 was about creating the long-term strategic plan, and FY26 was about proving that the plan works, then FY27 is about delivery.

The foundations of the business are significantly stronger than they were two years ago. Since the year end, we have substantially strengthened our balance sheet through the repayment and refinancing of legacy debt, providing greater financial flexibility and additional capacity to support growth.

We have a growing order book, with £15 million of new business awards secured during the year, peaking at around £3 million per annum. Much of this business is now starting to move into production, while products such as AuDuct and AuTrim are opening up new opportunities and increasing our content on future vehicle platforms. We will convert the business we have won into profitable revenue, continue to improve operational performance and maintain the financial discipline that has underpinned our progress.

We have made significant progress, but we are not finished. There are still more customers to win, more efficiencies to deliver and more growth to achieve. The difference today is that we are approaching those opportunities from a position of strength.

Looking Ahead

We have stronger foundations, increasing momentum and significant opportunities ahead of us. We continue to see growth opportunities across our existing products and customers. We are also seeing increasing demand for our materials on electric vehicle platforms, where lightweight acoustic and thermal solutions play an increasingly important role in vehicle efficiency, comfort and range. We remain excited by the potential for both organic growth and selective consolidation opportunities within our markets.

My ambition for Autins remains unchanged: to become the supplier of choice for acoustic and thermal management solutions and, over time, the consolidator within our markets.

Returning to profit which we achieved in FY26 is an important milestone, but we are only at the beginning of this exciting journey. With a stronger balance sheet, a growing order book and programmes secured on new vehicle platforms across Europe, we remain confident in our ability to continue growing both revenue and profitability in the years ahead.

I would like to thank our employees, customers, suppliers, shareholders and Board for their continued support. I am proud of what we have achieved together and excited about what comes next.

Andrew Bloomer

Chief Executive Officer

CHIEF FINANCIAL OFFICER'S REVIEW

Financial results

FY26 is for the year ended 31 March 2026, FY25 is for the 18 months ended 31 March 2025 following our change of year-end. 12MFY25 is the unaudited 12 months ended 31 March 2025 and is provided to help make FY26 comparisons on an annual basis.

· Revenue was £17.6m (FY25: £31.1m and 12MFY25: £19.3m).

· Gross profit before non-underlying items was £6.4m (FY25: £9.9m and 12MFY25: £6.2m)

· Gross margin before non-underlying items was 36.2% (FY25: 31.9% and 12MFY25: 32.1%)

· EBITDA before non-underlying items was £2.4m (FY25: £2.2m and 12MFY25: £1.4m)

· Loss before tax and before non-underlying items was £0.1m (FY25: £1.4m and 12MFY25: £1.2m)

· Profit after tax and before non-underlying items was £0.2m (FY25: loss of £ 1.4m and 12MFY25: loss of £1.2m)

· Cashflow from operating activities was £1.5m (FY25: £3.6m and 12MFY25: £2.2m)

· Cash and equivalents were £0.6m (FY25 and 12MFY25: £1.4m)

· Net debt excluding IFRS16 lease liabilities was £1.6m (FY25 and 12MFY25: £1.1m)

· CBILS loan repayments continued and was fully repaid in June 2026

· Existing MEIF loan fully repaid in May 2026 and new MEIF II agreement entered into in May 2026 for £1.0m repayable over four years.

Key actions during the year:

· Margin improvement initiatives started to generate benefit in the year and we continue to explore efficiency opportunities;

· Continued investment in advanced production equipment for improved automation and capacity; and

· Repayments of loans continued and we have fully repaid our UK legacy loans in June 2026. A new term loan facility in the UK has been agreed after the year end in order to provide greater financial stability and working capital flexibility.

FY26 performance overview

In my first full year as Chief Financial Officer we continued to implement improvements to our processes and review our infrastructures, whilst we were also presented with a significant challenge resulting from a cyber-attack at our key UK customer.

We invested in upgrades to our IT infrastructure in order to provide higher level of protection against the potentially debilitating impact of a cyber-attack on our business. These upgrades also provide for a more efficient systems operation.

The increased financial transparency and integration across the Group has been instrumental in achieving greater efficiency of operations at Autins. This has manifested itself in the cooperative way in which we approach working capital monitoring and capital allocation.

These improvements helped us achieve net profit after tax for the first time since 2017. This is a major step forward in our journey to deliver value to our shareholders.

Revenues and margins

The new contracts won prior to the commencement of the financial year started generating the expected revenues towards the middle of the period. However, in September 2025 our key customer in the UK experienced a cyber-attack which resulted in a loss of revenue and margin in September and October 2025. The increased diversification of our customer base and margin improvements significantly mitigated the impact from this on the Group.

We successfully implemented margin improvement initiatives toward the end of the preceding financial period, the full benefit of which has been seen in FY26. These improvements enabled a reduced cost for purchase of raw materials for our production and at the same time eliminated the USD currency risk.

Energy costs and other variable costs remained stable throughout the year.

Operating result

Combined distribution and administrative expenses, before non-underlying items, for the year were £6.3m, compared with £10.6m in the prior 18 month financial period and £7.4m in the financial year to 30 September 2023. We have reviewed all our overheads and reduced them wherever possible by removing certain costs, putting some services out to tender and re-negotiating with our suppliers. Although there is always more work to be done on overheads we consider our overhead base to be lean but appropriately configured for our growth plans.

EBITDA before non-underlying items in the year at £2.4m was greater than the EBITDA before non-underlying items for the preceding 18 month period at £2.2m.

Net finance expense

The net finance expense for the year was £0.4m (FY25: £0.7m), which is a continuing decreasing trajectory as repayments are made on fixed rate borrowings.

Non-underlying items

Non-underlying costs in the year ended 31 March 2026 comprise:

· £534,000 due to the direct impact of the disruption caused by the cyber-attack on the Group's largest customer. Of this amount £149,000 is charged to cost of sales and £385,000 is charged to administrative expenses; and

· £273,000 due to termination costs in relation to the flooring business in Germany charged to cost of sales.

These non-underlying costs were offset by an £802,000 credit to cost of sales from the release of a liability due to the cessation of a commercial agreement with a supplier.

Non-underlying items in the 18 months ended 31 March 2025 of £280,000 relate to the payments of salaries to the former CEO and CFO during their notice periods and recruitment costs for the new CEO.

Currency

The Group's overseas operations and certain raw material suppliers require the Group to trade in currencies other than Sterling, our base currency. During the year, we limited our transactions in US Dollars to an insignificant level and no longer have a direct exposure to this currency. Our significant exposure remains to the Euro and Swedish Krona, the currencies of our European operations. As our revenues in Europe continue growing and are projected to grow further whereby more than half of our revenue will be denominated in Euro, the Group will have an increased benefit from natural currency hedging, which reduces the cost and resources required to execute a financial products hedging strategy. 

Borrowing

In the year the Group continued reducing its borrowings, excluding IFRS16 lease liabilities, to £2.2m (FY25 £2.5m). We continued the scheduled repayments on the CBILS and this facility was fully repaid in June 2026. The hire purchase liabilities were also reduced according to the repayment schedules, following the increase in the previous period.

During the year we paid £250k of the outstanding MEIF term loan, and the final payment of £750k was paid in May 2026. In May 2026 the Group arranged a new MEIF II facility for £1.0m repayable by 31 March 2030 in equal quarterly instalments. This new facility does not have covenants. This will provide more financial stability and strengthen our working capital position as we enter a period of growth but also ensure we retain our flexibility to cope with extraordinary events outside of our control.

At 31 March 2026 we have drawn down £698,000 on our invoice discounting facility to support the working capital requirements of the Group.

The Board continues to review the Group's banking and funding arrangements with a view to ensuring that they remain appropriate.

Net debt

The Group ended the period with a net debt position of £1.6m excluding IFRS16 lease liabilities (FY25: £1.1m). This increase is due to the impact of the cyber-attack at our major UK customer, and the working capital build up as revenue grows.

Taxation

The Group had a tax credit of £242,000 for the year (FY25; £49,000), which is a deferred tax credit, with no corporation charge credit or charge. The deferred tax credit has been recognised on a conservative estimate of the tax losses expected to be used in the UK and Sweden in the year ending 31 March 2027. After recognising an element of the tax losses as a deferred tax asset there remains £2.23m of unrecognised deferred tax assets for the Group. 

Earnings per share and dividends

Earnings per share for the year was 0.30 pence (FY25: loss per share 3.05 pence) reflecting the net profit in the year. The weighted average number of shares was 54,600,984 in the period (FY25: 54,600,984). The Board is not proposing a final dividend for the current period (FY25: £nil) and no interim dividend was paid (FY25: £nil).

Going concern

The financial statements, based on current and forecast trading, the annual cash flow forecasts and the available sources of finance, have been prepared on the going concern basis, further details of which are provided in the basis of preparation of financial statements.

Desislav Dimitrov

Chief Financial Officer

WHY INVEST IN AUTINS?

Proprietary Technology

At the heart of Autins is our proprietary Neptune technology. Manufactured in-house in the UK, Neptune provides a unique combination of acoustic and thermal performance, lightweight construction and increasing levels of recycled and recyclable content. Continuous innovation ensures Neptune remains differentiated from competing materials and positions Autins to benefit from increasing customer demand for sustainable, high-performance solutions.

Autins is a specialist in NVH (noise, vibration and harshness) management. Our combination of proprietary material technologies, engineering capability and manufacturing expertise allows us to work collaboratively with OEMs and Tier 1 suppliers to solve evolving acoustic and thermal challenges, particularly as vehicle platforms continue to electrify. This vertically integrated approach differentiates Autins from many competitors and supports the development of new products and applications across future vehicle platforms.

Expanding Product Portfolio

Autins is increasing its content per vehicle through the introduction of higher-value products including AuDuct and AuTrim. These technologies expand our addressable market within the vehicle cabin, provide access to new customer opportunities and increase the value we can deliver on each platform.

This provides significant growth potential with both existing and new customers as these technologies are adopted across future vehicle platforms.

European Growth Platform

Autins has evolved from a predominantly UK-focused business into a growing European supplier. The Group has developed relationships with key German OEMs and Tier 1 suppliers over many years and is becoming an increasingly established supplier within the European automotive market.

Germany is now an important growth engine for the Group, supported by operational improvements, recent contract awards and increasing customer adoption of our technologies. As new vehicle platforms are introduced, Autins has opportunities to increase sales through greater penetration of existing customers and the adoption of additional products and technologies.

Sweden provides additional technology through our Lightfoam products which are being increasingly sold across the Group and offers opportunities to deepen relationships with Nordic OEMs and Tier 1 suppliers.

Proven Management Team Delivering Operational Excellence

Under the leadership of Andy Bloomer, the senior management team across the Group has successfully executed the "Survive and Thrive" strategy, improving operational performance, strengthening the balance sheet, enhancing manufacturing efficiency and returning the Group to profitability.

These improvements have created a more resilient, efficient and financially stronger business, providing a solid platform for future growth.

Resilient and Diversified Business Model

The Group is increasingly diversified across customers, products and geographies. The disruption caused by the cyber incident at our largest UK customer demonstrated the resilience of the business and highlighted the benefits of our growing European customer base, broader product portfolio and improving operational flexibility.

Positioned for the Thrive Phase

With a growing order book, increasing content on future vehicle platforms, proprietary technologies and opportunities for both organic growth and selective consolidation, Autins is well positioned to deliver sustainable growth in revenue, profitability and shareholder value over the long term.

Consolidated income statement

For the year ended 31 March 2026

All amounts relate to continuing operations.

Consolidated statement of comprehensive income

For the year ended 31 March 2026

Consolidated statement of financial position

As at 31 March 2026

Consolidated statement of changes in equity

For the year ended 31 March 2026

Consolidated statement of cash flows

For the year ended 31 March 2026

Reconciliation of movements in net cash/financing liabilities

Material non cash transactions

Financing liabilities include lease liabilities, primarily in respect of property leases, following the adoption of IFRS16 from 1 October 2019. Additions of £78,000 and foreign exchange movements of £55,000 are shown in non-cash movements together with financing charges of £289,000 (FY25: £1,925,000 of additions and foreign exchange movements of £10,000 together with financing charges of £446,000).

Notes to the Final Results

1. Basis of preparation of financial statements

While the financial information included in this annual financial results announcement has been prepared in accordance with the recognition and measurement principles of International Accounting Standards in conformity with the requirements of the Companies Act 2006 and UK-adopted IFRS, this announcement does not contain sufficient information to comply therewith.

The financial information set out above does not constitute the Company's statutory accounts for the year ended 31 March 2026 and the 18 months ended 31 March 2025 but is derived from those accounts. Statutory accounts for the 18 months ended 31 March 2025 have been delivered to the Registrar of Companies and those for the year ended 31 March 2026 will be delivered following the Company's annual general meeting.

The auditors have reported on those accounts; their reports were unqualified and did not include references to any matters to which the auditors drew attention by way of emphasis without qualifying their reports.

Their reports for the year ended 31 March 2026 and for the 18 month period ended 31 March 2025 did not contain statements under s498 (2) or (3) of the Companies Act 2006.

The consolidated financial statements are drawn up in sterling, the functional currency of Autins Group plc. The level of rounding for the financial statements is the nearest thousand pounds.

Changes in accounting policies

These financial statements have been prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006 for periods beginning on or after 1 April 2025 with no new standards adopted in these financial statements.

New accounting standards applicable to future periods

The only new standard, interpretation and amendment which is not yet effective that is expected to have a material effect on the Group's future financial statements is IFRS 18, Presentation and Disclosure in Financial Statements. IFRS 18 is effective from accounting periods commencing after 1 January 2027 and so will require application for the first time in the year ending 31 March 2028, although early adoption is permitted. It will require some new and additional disclosures in the financial statements. The Directors will fully assess the impact on the financial statements in the year ending 31 March 2027 and decide whether it is appropriate to adopt early.

Going Concern 

The Directors have concluded that, based on current and forecast trading, the annual cash flow forecasts, and the available sources of finance, that it is appropriate to prepare these financial statements on the going concern basis.

The Directors have prepared trading and cash flow forecasts through to 31 March 2029.

The trading forecasts take into consideration:

• the current and expected demand schedules from the Group's key automotive customers, changes in expected demand for flooring products in Germany and the levels of enquiries for new business;

• the impact of current and future expected demand levels for new vehicles, the migration to EVs and publicly available forward looking market information on market sizes and dynamics; and

• the current cost structure of the Group and an allowance for known increases and reductions taking account of the various projects that have improved efficiency in the production and procurement processes.

The key sensitivities in the trading forecasts are automotive revenue levels, end market vehicle sales mix and the timing of orders placed by customers. These sensitivities have been factored into the forecasts.

The cash flow forecasts are derived from the trading forecasts and include the repayment of loans in accordance with the agreements with the lenders and the drawdown of the new loan, further details of which are provided below. The cash flow forecasts also assume that working capital is managed in line with the commercial agreements and provide a contingency.

The facilities available to the Group comprise a UK invoice discounting facility of up to £3.5 million and overdraft facilities in the UK of £0.3m and in Sweden of £0.1 million. As at 31 May 2026, shortly before the reporting date, the net cash liquidity was £1.9 million. The minimum net cash liquidity, comprising cash at bank and available facilities, in the forecasts for a period of 12 months from the date of signing these financial statements is £1.7 million in July 2026.

As at 31 March 2026, the Group had:

• a UK CBILS loan of £0.3 million;

• a MEIF loan of £0.75 million; and

• a German Government loan of £0.1 million.

The remaining balance on the UK CBILS loan was fully repaid in June 2026. The UK CBILS loan included covenants, which were measured quarterly and which had been fully complied with throughout the year and up to the point the loan was repaid, when they fell away.

The MEIF loan was fully repaid in May 2026. At the same time a new MEIF II loan agreement was entered into with Maven Capital Partners for a £1.0 million loan. This loan is repayable in equal quarterly instalments over four years and does not contain any covenants.

The German Government loan is repayable in quarterly instalments of £8,000 through to 2030.

2. Revenue and segmental information

Revenue analysis

Segmental information

The Group currently has one main reportable segment in each year, namely Automotive NVH which involves provision of insulation materials to reduce noise, vibration and harshness to automotive manufacturing. Turnover and operating profit are disclosed for other segments in aggregate as they individually do not have a significant impact on the Group result. These segments have no material identifiable assets or liabilities.

Factors that management used to identify the Group's reportable segments

The Group's reportable segments are strategic business units that offer different products and services.

Measurement of operating segment profit or loss

The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies.

The Group evaluates performance on the basis of operating profit/(loss) before non-underlying items. Automotive remained the only significant segment in the period.

The Group's non-automotive revenues are included within the others segment.

Segmental analysis for the year ended 31 March 2026

Segmental analysis for the 18 months ended 31 March 2025

Revenues from one UK customer in the year ended 31 March 2026 were £4,778,000 and from one customer of our German business were £1,887,000 (FY25: one customer £10,890,000 and £5,190,000 of revenue arose from two other European customer). The largest customer purchases goods from Autins Limited in the United Kingdom and the second largest customer purchases from Autins GmbH in Germany, there are no other customers which account for more than 10% of Group revenue.

External revenues by location of customers

The material non-current assets outside of the United Kingdom at 31 March 2026 are £860,000 (31 March 2025: £1,108,000) of fixed assets including right-of-use assets and £507,000 (31 March 2025: £493,000) of goodwill in respect of the Swedish subsidiary, together with £1,136,000 of fixed assets including right-of-use assets in Germany (31 March 2025: £1,218,000). £210,000 of cash balances are held in Germany (31 March 2025: £270,000) and £63,000 in Sweden (31 March 2025: £211,000) with the cash partly utilised to repay intercompany debt owed to a UK group company.

3. Operating profit/(loss)

The operating profit/(loss) is stated after charging/(crediting):

Non-underlying costs in the year ended 31 March 2026 comprise:

· £534,000 due to the direct impact of the disruption caused by the cyber-attack on the Group's largest customer. Of this amount £149,000 is charged to cost of sales and £385,000 is charged to administrative expenses; and

· £273,000 due to termination costs in relation to the flooring business in Germany charged to cost of sales.

These non-underlying costs were offset by an £802,000 credit to cost of sales from the release of a liability due to the cessation of a commercial agreement with a supplier.

Non-underlying items in the 18 months ended 31 March 2025 of £280,000 relate to the payments of salaries to the former CEO and CFO during their notice periods and recruitment costs for the new CEO.

4. Finance income and expense

5. Earnings/(loss) per share

Earnings/(loss) per share has been calculated based on the share capital of Autins Group plc and the profit/(loss) of the Group for the relevant periods. There are currently no share options in place and so there are no potentially diluting instruments.

6. Annual report and accounts

The annual report and accounts will be available to members of the public at the Company's registered office at Central Point One, Central Park Drive, Rugby, CV23 0WE and on the Company's website www.autins.co.uk/investors.

7. Annual General Meeting

The Annual General Meeting of Autins Group plc will be held at the Company's main offices at Central Point One, Central Park Drive, Rugby, Warwickshire, CV23 0WE on 23 September 2026 commencing at 10:30am.