Business
Preliminary Results
Preliminary Results.
About this update from Niox Group Plc
[{"type":"text","content":"\n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"UK MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of UK MAR. The persons taking responsibility for this announcement are the Company contacts named below.\n \n \n \n \n \n \n \n \n \n \n \n \n \n NIOX GROUP PLC\n \n \n \n \n (\"NIOX\"\n \n or the\n \n \"Company\"\n \n and, together with its subsidiaries, the\n \n \"Group\")\n \n \n \n \n \n \n \n \n \n PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2022\n \n \n \n \n \n \n \n Oxford, UK - 21 March 2023:\n \n NIOX Group plc (AIM: NIOX), a medical device company focused on point of care asthma diagnosis and management, today announces its unaudited results for the year ended 31 December 2022.\n \n \n \n \n \n \n Financial highlights\n \n \n \n ·\n Underlying revenue growth of 15% to £31.3 million (2021: £27.9 million) excluding a one-off revenue item of £0.6 million in China\n \n \n ·\n Profit before tax £2.4 million, excluding the benefit of the Beyond Air consideration of £8.1 million (2021: loss of £2.1 million)\n \n \n ·\n Group adjusted EBITDA2 at £7.3 million, ahead of upgraded consensus estimates (2021: £0.6 million in a transitional year)\n \n \n ·\n Net cash £19.4 million (31 December 2021: £12.6 million)\n \n \n \n \n \n \n \n \n Financial progress\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n \n \n \n \n £m\n \n \n \n \n \n £m\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n 31.3\n \n \n \n \n \n 27.9\n \n \n \n \n \n \n \n Gross margin\n \n \n \n \n \n \n 71%\n \n \n \n \n \n 68%\n \n \n \n \n \n \n \n Total expenditure1\n \n \n \n \n \n \n (14.9)\n \n \n \n \n \n (18.4)\n \n \n \n \n \n \n \n Adjusted EBITDA2\n \n \n \n \n \n \n 7.3\n \n \n \n \n \n 0.6\n \n \n \n \n \n \n \n Adjusted EBITDA margin\n \n \n \n \n \n \n 23.3%\n \n \n \n \n \n 2.2%\n \n \n \n \n \n \n \n Operating profit/ (loss)\n \n \n \n \n \n \n 1.8\n \n \n \n \n \n (4.3)\n \n \n \n \n \n \n \n Beyond Air settlement consideration\n \n \n \n \n \n \n 8.1\n \n \n \n \n \n \n -\n \n \n \n \n \n \n \n \n Profit/ (loss) b...