Business
Final Results for the year ended 31 December 2024
Final Results for the year ended 31 December 2024.
About this update from Airea Plc
[{"type":"text","content":"\n\n27 March 2025\n \nAIREA plc\n \n(\"AIREA\", the \"Group\" or the \"Company\")\n \nFinal Results for the year ended 31 December 2024\n \nStrong sales growth in the second half, business transformation nearing completion\n \nAIREA plc (AIM: AIEA), the UK design-led specialist flooring company, supplying both the UK and international markets, is pleased to announce its final results for the twelve months ended 31 December 2024.\n \nFinancial highlights\n· Strong sales growth of 6.0% in the second half, recovering from 5.6% shortfall in first half\n· Full year revenue increased by 0.6% to £21.2m (2023: £21.1m)\n· Underlying operating profit of £1.6m, excluding non-recurring costs\n· Operating profit before valuation gain decreased to £0.7m (2023: £1.8m), impacted by non-recurring costs of £0.9m\n· EBITDA decreased to £1.1m (2023: £2.6m)\n· Cash and cash equivalents at £2.1m (2023: £5.8m)\n· Coronavirus Business Interruption Loan of £0.9m fully settled in December 2024\n· Final dividend increased by 9.1% to 0.60p per ordinary share (2023: 0.55p)\n \nOperational highlights\n· Excellent progress on the strategic investment in the Group's manufacturing facility\n· Business transformation completion in third quarter 2025, with enhanced Group capabilities and market profile\n· Increased focus on innovation and sustainability, highlighted by the successful launch of two carbon-neutral products, snowfall® and standing stones® and refresh of balance collection®\n· Refresh of low-carbon products in alaska®, academy® and tivoli®\n· Strategic review and successful implementation of stockholding policy, £2.8m stock reduction in second half\n \nPost period end\n· Opening of new Dubai sales showroom in January 2025\n· Winner at the Yorkshire Business of the Year awards 2025 in Sustainability category\n· Winner at the Made in Yorkshire awards 2025 in the Manufacturer of the Year (under £25m) category\n \nMédéric Payne, Chief Executive Officer of AIREA plc, commented:\n \n\"AIREA had another year of progress in 20...