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1 Dec 2025 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
1 December 2025
Hardide plc
("Hardide", the "Group" or the "Company")
Significant orders received from a major new energy customer
with further development potential
Hardide plc (AIM: HDD), the provider of advanced surface coating technology, is pleased to announce that it has received orders from a major new North American customer in the energy sector with an aggregate value of £1.75m.
These orders reflect strategic initiatives by the Group's management in developing business both from the energy sector and across the US market more broadly. Discussions are continuing with this customer to plan for ongoing demand later in 2026, and the potential for higher demand in 2027 and thereafter.
These orders are expected to benefit Group revenues in the first half of Hardide's current financial year ending 30 September 2026 ("FY26") and are greater in value than initially forecast. The Board accordingly now anticipates revenue and financial performance for FY26 to be materially higher than its previous expectations.
Hardide's capability to service this customer directly from its facility in Martinsville, USA, to demanding delivery schedules using existing spare capacity has proven to be highly significant and is indicative of the Group's enhanced value proposition.
Encouragingly, Hardide's unique surface coating solutions have recently been attracting a great deal of interest from major oil and gas companies. Hardide's coatings significantly extend the life of components such as sleeves used in directional drilling where erosion and corrosion are prevalent in the operating environment.
Matt Hamblin, CEO, commented:
"The growing relationship with this significant new customer is a highly exciting development for Hardide. In the immediate future it will enable us to build on last year's strong revenue growth of over 25%. It also brings us an important step closer to achieving our strategic milestone of more than doubling FY24's revenues to over £10m as soon as possible, leveraging existing spare capacity to generate attractive operating margins."
For further information: | |
Hardide plc Matt Hamblin (CEO) Simon Hallam (Finance Director)
| Tel: +44 (0) 1869 353 830 |
Cavendish Capital Markets Ltd - Nominated Adviser and Broker Henrik Persson / Elysia Bough (Corporate Finance) Jasper Berry / Dale Bellis (Sales) |
Tel: +44 (0) 2072 200 500 |
Notes to editors:
www.hardide.com
Hardide develops, manufactures and applies advanced technology tungsten carbide/tungsten metal matrix coatings to a wide range of engineering components. Its patented technology is unique in combining in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments. This results in cost savings through reduced downtime and increased operational efficiency as well as a reduced carbon footprint. Customers include leading companies operating in the energy sectors, valve and pump manufacturing, industrial gas turbine, precision engineering and aerospace industries.
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