Hardide Regulatory News (HDD)

Hardide plc

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

Year end trading update

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

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") EU no.596/2014. Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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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.