Business
Full Year Results
Full Year Results.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n\n17 May 2023\nAurrigo International plc\nFull year results for year ended 31 December 2022\nGood progress since IPO - foundations laid for future growth\nAurrigo International plc (AIM: AURR, the \"Company\" or \"Aurrigo\"), a leading international provider of transport technology solutions, reports its full year results for the year ended 31 December 2022.\n \nHighlights\n \n· Autonomous and Aviation division signed multi-year partnering agreement with Changi Airport Group (Singapore) Pte Ltd ('CAG') for continued joint development of Auto-Dolly, Auto-DollyTug and Auto-Sim\n· Automotive division also saw good activity levels, particularly amongst new potential customers\n· Headcount increased at all levels, expanding the team from 50 at IPO to 78 as at end April 2023\n· Established full-time teams in North America and Singapore offices\n· Continued investment in R&D, with the development of the Auto-Dolly MK3 and Auto-DollyTug MK3\n· Continued IP generation with patents granted\n· Revenues of £5.3m, with Adjusted EBITDA loss of £0.9m\n· Cash of £5.4m at period end, strong cost controls in place\n \nOutlook\n \n· Momentum of 2022 continuing into 2023, with industry partnerships and grant-funded projects signed in Autonomous and Aviation and good customer traction across Automotive\n· Investment in sales and marketing, alongside the CAG partnership, resulting in encouraging potential customer engagement globally\n· Rapid recovery of global aviation to almost pre-pandemic levels, with demand for better efficiencies and solutions for staff shortages, underpins Aurrigo's key growth drivers\n· In a strong position to continue to deliver on the opportunities presented at IPO, particularly in Aviation\n \nDavid Keene, CEO of Aurrigo, commented:\n \n\"We delivered an exciting year of progress in 2022 with the IPO, fundraising and partnership agreement with Changi Airport Group laying the foundations for our future growth. Since joining AIM, we have scaled our team, developed new vehicle...