Business
Xaar plc 2018 Full Year Results
Xaar plc 2018 Full Year Results.
About this update from Xaar Plc
[{"type":"text","content":"\n \nRNS Number : 5545T Xaar PLC 21 March 2019 \n\n \n \nXaar plc\n \n2018 FULL YEAR RESULTS\n \nXaar plc (\"Xaar\", \"the Group\" or \"the Company\"), the inkjet printing technology Group headquartered in Cambridge, UK, today announces its full year results for the 12 months ended 31 December 2018. \nSummary of results for the year to 31 December 2018:\n\n\n\n\n \n\n\nAdjusted¹\n\n\n \n\n\nIFRS\n\n\n\n\n \n\n\n2018\n\n\n2017\n\n\n \n\n\n2018\n\n\n2017\n\n\n\n\nRevenue\n\n\n£63.5m\n\n\n£100.1m\n\n\n \n\n\n£63.5m\n\n\n£100.1m\n\n\n\n\nGross Profit\n\n\n£24.4m\n\n\n£47.0m\n\n\n \n\n\n£24.4m\n\n\n£47.0m\n\n\n\n\nGross Margin %\n\n\n38.5%\n\n\n47.0%\n\n\n \n\n\n38.5%\n\n\n47.0%\n\n\n\n\nGross R&D investment²\n\n\n£15.0m\n\n\n£18.1m\n\n\n \n\n\n£15.0m\n\n\n£18.1m\n\n\n\n\nNet R&D investment²\n\n\n£14.7m\n\n\n£12.3m\n\n\n \n\n\n£14.7m\n\n\n£12.3m\n\n\n\n\nOperating Margin %\n\n\n(18.7%)\n\n\n17.8%\n\n\n \n\n\n(23.8%)\n\n\n12.1%\n\n\n\n\n(Loss)/profit before tax\n\n\n(£11.7m)\n\n\n£18.0m\n\n\n \n\n\n(£14.9m)\n\n\n£12.3m\n\n\n\n\nDiluted Earnings per share\n\n\n(9.7p)\n\n\n20.7p\n\n\n \n\n\n(16.0p)\n\n\n14.0p\n\n\n\n\nNet Cash³ at year end\n\n\n£27.9m\n\n\n£44.7m\n\n\n \n\n\n£27.9m\n\n\n£44.7m\n\n\n\n\nDividend per share\n\n\n1.0p\n\n\n10.2p\n\n\n \n\n\n1.0p\n\n\n10.2p\n\n\n\n\n1 - Excluding the impact of share-based payment charges, exchange differences relating to intra-group transactions, research and development expenditure credit and restructuring and investment expenses, as reconciled in note 2 \n2 - Net R&D investment excludes the capitalised costs of the High Speed Sintering development programme (and P4 (Thin Film) technology platform in 2017), and includes the amortisation cost of P4 (Thin Film) technology platform, as required under International Financial Reporting Standards (IAS 38)\n3 - Net cash includes cash, cash equivalents and treasury deposits\n \nFinancial highlights \n· Revenue in line with December update, but pretax losses affected by additional inventory and debtors provisions totalling £7.0 million.\n· Revenue in 2018 was £63.5 million, £52.4 million excluding licence royalties. This represents a decline in revenue of 37% year on ye...