Business
Full Year Results
Full Year Results.
About this update from Autins Group Plc
[{"type":"text","content":"\n\n4 March 2024\nAutins Group plc\n(the \"Company\" or the \"Group\")\n \nFull Year Results\n \nAutins Group plc (AIM: AUTG), the UK and European manufacturer of the patented Neptune melt-blown material and specialist in the design, manufacture and supply of acoustic and thermal insulation solutions, announces its results for the financial year ended 30 September 2023.\n \n \nFinancial Summary\n· Revenue increased by 20.2% to £22.7 million (FY22: £18.9 million)\n· Gross profit increased by 57.8% to £6.7 million (FY22: £4.2 million)\n· Gross margin increased by 7.1% to 29.5% (FY22: 22.4%)\n· EBITDA increased by £2.3m to £1.2 million (FY22: loss of £1.1 million)\n· Operating loss decreased to £0.7 million (FY22: loss of £3.0 million)\n· Loss after tax decreased to £0.9 million (FY22: loss of £3.3 million)\n· Loss per share decreased to 1.67p (FY22: loss of 6.34p)\n· Net cash inflow from operating activities increased to £2.1 million (FY22: £0.5 million net outflow)\n· Net debt[1] decreased to £1.6 million (FY22: £2.0 million)\n· Cash and cash equivalents increased to £2.1 million (FY22: £1.8 million)\n· Group cash headroom[2] increased to £4.1m (FY22: £3.5m)\n \n \nOperational Highlights\n \n· 11 new customer wins; 6 in the UK and Sweden and 5 in Germany, including supply into the all-electric Nissan Leaf, various JLR vehicles, Fisker Ocean, Lamborghini and several tiers\n· Successfully launched our new 100% recyclable Neptune-R material, which has already generated strong customer interest \n· Achieved an 88% reduction in carbon emissions across the Group by converting to renewable energy sources and improving efficiencies in the plants, surpassing the 84% target\n· Continued improvement in cost control as a result of staff restructuring actions and labour productivity gains\n· Significantly reduced staff churn to belo...