Business
Unaudited Interim Results
Unaudited Interim Results.
About this update from Tekmar Group Plc
[{"type":"text","content":"\n\nTEKMAR GROUP PLC\n(\"Tekmar Group\", the \"Group\" or the \"Company\")\n \nUNAUDITED INTERIM RESULTS\nFor the 6-month period ended 31 March 2025\n\nTekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, announces its interim results for the 6-month period ended 31 March 2025 (\"HY25\" or the \"Period\").\n \nHeadlines for the Period\n· Revenue of £12.3m (HY24: £16.2m) at 29% gross margin and adjusted EBITDA of £(0.7)m (HY24: £1.8m)\n· Trading for the Period reflects the anticipated lower activity levels in H1. As previously guided, profit delivery is expected to be weighted towards the second half of FY25\n· Order intake during the Period of £10m (HY24: £21m) at a blended gross margin of 32%. Whilst awards were slower than anticipated, effective cost control helped offset the impact of lower revenue\n· The visible pipeline remains strong with in excess of £50m of projects scheduled for award in the second half of this calendar year\n· Net debt of £1.8m as at 31 March 2025 (£3.6m as at 31 March 2024). Ongoing disciplined cashflow management including agreed payment plan to reduce aged debt in China with £0.6m received during June 2025\n \n \nSolid progress made on key initiatives within Project Aurora - our strategic plan to deliver true scale\n· Organisational restructure and focus on costs have achieved over £1m of annualised cost savings, representing an overhead reduction of 11%, providing a leaner cost base for FY26 and opportunities to invest in growth\n· Recent simplification of business and now reorganised across two verticals: Asset Protection Technology and Offshore Energy Services \n· Significant progress made in closing out legacy warranty claims in relation to alleged CPS defects\n· New talent acquired to support the front end of the business in capturing growing market opportunities\n· Annual review process of banking facilities concluded including the renewal of the £4m trade loan facility. In addition, the Group has taken out a 3-year ...