Business
Final Results
Final Results.
About this update from Xaar Plc
[{"type":"text","content":"\n\n25 March 2025\nXaar plc\n \n2024 FULL YEAR RESULTS\nKEY MILESTONES REACHED, STRONG GROWTH EXPECTED IN MEDIUM TERM\n \nXaar plc (\"Xaar\", the \"Group\" or the \"Company\"), the leading inkjet printing technology group, today announces its audited full year results for the year ended 31 December 2024.\n \nFinancial Summary:\n\n\n\n\n\n\n\n2024\n\n\n2023\n\n\nChange\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n£61.4m\n\n\n£70.2m\n\n\n(13%)\n\n\n\n\nGross margin %\n\n\n36%\n\n\n38%\n\n\n(2%)\n\n\n\n\nGross R&D investment3\n\n\n£5.3m\n\n\n£5.6m\n\n\n(5%)\n\n\n\n\nAdjusted EBITDA1\n\n\n£3.7m\n\n\n£6.4m\n\n\n(42%)\n\n\n\n\nAdjusted profit before tax\n\n\n£0.3m\n\n\n£2.9m\n\n\n(89%)\n\n\n\n\nReported loss for the period\n\n\n(£10.7m)\n\n\n(2.4m)\n\n\n346%\n\n\n\n\nAdjusted earnings per share\n\n\n0.7p\n\n\n3.6p\n\n\n(81%)\n\n\n\n\nBasic loss per share\n\n\n(13.5)p\n\n\n(3.0)p\n\n\n350%\n\n\n\n\nNet cash at the period end2\n\n\n£8.7m\n\n\n£7.1m\n\n\n23%\n\n\n\n\n \nFinancial Highlights:\n- Solid 2024 results with new Printhead business revenue up 23% to £18.9 million (2023:\n£15.4 million)\n- Ceramics and Glass approaching trough levels, with 2024 revenue of £7.5 million (2023:\n£15.5 million)\n- Engineered Print Systems' (EPS) revenue declined 27% to £16.1 million (2023: £22.1 million) amidst tough market conditions and the completion of a substantial multi-year project\n- Proactive cost management with gross margin protected at 36% (2023: 38%) despite increased energy costs and lower sales volumes\n- Adjusted operating expenses reduced by 16% to £21.6 million (2023: £25.7 million)\n- R&D investment at c.9% of revenue, consistent with prior year\n- Adjusted Group profit before tax of £0.3 million (2023: £2.9 million)\n- Net cash position up 23% to £8.7 million due to working capital improvements\n \nStrategic Highlights:\n- Omijia and Shifang both launched Xaar-enabled Electric Vehicle (EV) battery coating lines\n- Exclusive partnership with Axalta and Dürr to provide two-tone and decal automotive coatings using Xaar Inkjet technology, potentially opening up ...