Business
2023 Interim Results
2023 Interim Results.
About this update from Xaar Plc
[{"type":"text","content":"\n\n \n19 September 2023\n \nXaar plc\n \n2023 INTERIM RESULTS\n \nSTRATEGIC PROGRESS WITH PERFORMANCE ON TRACK\n \nXaar plc (\"Xaar\", the \"Group\" or the \"Company\"), the leading inkjet printing technology group, today announces its unaudited interim results for the six months ended 30 June 2023.\n \nFinancial Summary: \n \n\n\n\n\n\n\n\nH1 2023\n\n\nH1 2022\n\n\nChange\n\n\n\n\nContinuing Operations\n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n£34.5m\n\n\n£36.6m\n\n\n-6%\n\n\n\n\nGross profit\n\n\n£13.8m\n\n\n£14.5m\n\n\n-5%\n\n\n\n\nGross margin %\n\n\n40%\n\n\n40%\n\n\n\n\n\n\n\nGross R&D investment\n\n\n£2.6m\n\n\n£3.3m\n\n\n-21%\n\n\n\n\nAdjusted EBITDA1\n\n\n£3.5m\n\n\n£3.0m\n\n\n17%\n\n\n\n\nAdjusted profit before tax1\n\n\n£1.8m\n\n\n£1.4m\n\n\n29%\n\n\n\n\nLoss before tax\n\n\n(£1.8m)\n\n\n(£0.3m)\n\n\n\n\n\n\n\nLoss/profit for the period after tax\n\n\n(£1.3m)\n\n\n£0.7m\n\n\n\n\n\n\n\nBasic (loss)/earnings per share\n\n\n(1.7p)\n\n\n0.9p\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal Operations\n\n\n \n\n\n \n\n\n \n\n\n\n\nLoss before tax\n\n\n(£1.8m)\n\n\n(£0.6m)\n\n\n\n\n\n\n\n(Loss)/profit after tax\n\n\n(£1.3m)\n\n\n£0.4m\n\n\n\n\n\n\n\nBasic (loss)/earnings per share\n\n\n(1.7p)\n\n\n0.5p\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet cash at the period end2\n\n\n£7.3m\n\n\n£12.7m\n\n\n-42.5%\n\n\n\n\n \n1 - EBITDA is calculated as statutory operating profit before depreciation, amortisation and impairment of property, plant and equipment, intangible assets and goodwill. Adjusted EBITDA is calculated as EBITDA excluding other adjusting items as defined as follows. Adjusted Measures exclude the impact of share-based payment charges, exchange differences relating to intra-group transactions, gain on derivative financial instruments, restructuring and transaction expenses, research and development expenditure credit, fair value loss or gains on financial assets at FVPL, amortisation of acquired intangibles, and discontinued operations as reconciled in note 2.\n2 - Net cash at 30 June includes cash, cash equivalents and treasury deposits.\nFigures and percentages included in this report are subject to rounding adjustments arising from conversion to £millions from actual figures. Accordingly, figures shown for t...