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29 Apr 2025 07:00
29 April 2025
Nexteq plc
("Nexteq, the "Company" or the "Group")
AGM Statement
The Annual General Meeting ("AGM") of Nexteq plc (AIM: NXQ), a leading technology solutions provider to customers in selected industrial markets, will be held today at 10:00am at the Group's offices at The Galleria, Station Road, Crawley, RH10 1WW.
At the AGM, Nexteq Chair, Carol Thompson, will make the following statement:
"The Board remains confident in achieving 2025 full year market expectations1. Despite the global uncertainty relating to the introductions of tariffs, we have a strong track record managing our supply chain and we are working tirelessly with suppliers and customers to navigate any potential disruption that may arise.
"The Board is committed to the Group's three-year plan as presented at the Capital Markets Day in February 2025, including our plans to deliver meaningful organic growth through a renewed focus on innovation and a more diversified business model.
"Meanwhile, margin performance remains as expected, and our objective to refocus resources to deliver the three-year plan, as well as operational synergies, is progressing as planned.
"As has historically been the case, we have generated positive cashflow, additive to our healthy cash balances and debt free position. This provides a robust foundation to trade through the uncertainty and invest for the future. Our net cash position is $30.2m at 31st March 2025.
"The business is well positioned to deliver the objectives of the three-year plan, which includes the creation of innovative new software and hardware products and services across new sectors and geographies."
1 Current consensus is $85.5m revenue, $6.0m adjusted EBITDA and $3.6m adjusted PBT
Nexteq PLC Duncan Faithfull, Chief Executive Officer Matt Staight, Chief Financial Officer |
Telephone: +44 (0)20 3597 6800 |
Nominated Adviser and Broker: Cavendish Capital Markets Ltd Matt Goode / Edward Whiley (Corporate Finance) Tim Redfern / Harriet Ward (Corporate Broking)
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Telephone: +44 (0)20 7220 0500 |
Financial PR: Alma Strategic Communications Hilary Buchanan / Emma Thompson |
Telephone: +44 (0)20 3405 0205 |
About Nexteq
Nexteq (AIM: NXQ) is a strategic technology solutions provider to customers in selected industrial markets. Its innovative technology enables the manufacturers of global electronic equipment to outsource the design, development and supply of non-core aspects of their product offering. By outsourcing elements of their technology stack to Nexteq, customers can focus their product development effort on the most critical drivers of their business' success.
Our solutions are delivered through a global sales team and leverage the Group's electronic hardware, software, display and mechanical engineering expertise. Our Taiwan operation is at the heart of Asian supply networks and facilitates cost effective manufacturing and strategic supply chain management.
The Group operates in six countries and services over 500 customers across 47 countries.
Nexteq operates two distinct brands: Quixant, a specialised computer platforms provider, and Densitron, leaders in human machine interface technology, each with dedicated sales, account management and product innovation teams. Founded in 2005, and later floating on the London Stock Exchange's AIM stock market as Quixant plc, the Group rebranded to Nexteq in 2023.
Further information on Nexteq and its divisions can be found at www.nexteqplc.com.
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