Slide 1: Results for the year ended 31 May 2025
Pinpoint-Invest-Exit Results for the year ended 31 May 2025 Steve McQuillan, CEO Stephen King, CFO
Slide 2: Highlights for the period
Highlights for the period Delivered on full year expectations, which were upgraded in May 2025 Results continue to improve at Hayward Tyler and Ormandy, with solid progress at Metalcraft and Booth Resilience is underpinned by our regional supply chains and regional products sales – tariff risk
Slide 3: Financial highlights
Financial highlights Group Revenue Gross Profit Margin Adjusted EBITDA £156.4m 31.7% £16.7m FY24: £136.6m FY24: 32.2% FY24: £14.0m Adjusted Diluted EPS Final Dividend* Net Debt** 23.7p 3.0p £12.3m FY24: 18.5p FY24: 2.9p 31 May 24: £6.1m Final Dividend* - Currently proposed Net Debt** - IFRS 16 lease
Slide 4: Our divisions and brands
Our divisions and brands Advanced Engineering Systems (AES) Medical and Industrial Imaging (MII) Acquired 2004 Acquired 2012 Acquired 2017 Acquired 2018 Acquired 2017 Acquired 2018 Acquired 2019 Acquired 2019 Acquired 2023 Acquired 2021 Acquired 2023 Revenue (£m) Adjusted EBITDA Revenue (£m) Adjuste
Slide 5: Strategy
Strategy Pinpoint Invest Exit • Focus on targeting highly • People • Return value to shareholders regulated markets. • Facilities and equipment • Fund new acquisitions • Grow existing businesses • Technology and IP • Fund research and through bolt-on acquisitions • Routes to market development of ne
Slide 6: Divisional priorities - AES
Divisional priorities - AES Advanced Engineering Systems (AES) division Hayward Tyler, Slack & Parr, Energy Steel • Markets • Nuclear – life extension focus continues • Further contract wins in USA and EU “life extension” market • Post period end - $16m of new contracts with KHNP, S. Korea • Next Ge
Slide 7: Divisional priorities – AES (cont.)
Divisional priorities – AES (cont.) Metalcraft, Ormandy, Booth, Composite Products • Markets • Nuclear decommissioning (Metalcraft) • Main 3M3 box contact ongoing, with weekly deliveries. • Defence (Booth) – on-going work on UK Government contracts • Infrastructure (Booth) – HS2 tunnel doors underwa
Slide 8: Divisional priorities - MII
Divisional priorities - MII Magnetica, Scientific Magnetics, Tecmag and Adaptix MRI scanner • Medical and Veterinary Imaging • Convergent orthopaedic / veterinary market focus • Total combined addressable imaging market estimate is $7bn • Continuing to work through expanded FDA cyber-security requir
Slide 9: Financial Highlights
Ds. Avingtrans Financial Highlights
Slide 10: Financial performance
Financial performance £m FY25 FY24 Revenue 156.4 136.6 Gross Profit 49.5 44.0 Gross Profit % 31.7% 32.2% Adjusted EBITDA 16.7 14.0 Adjusted EBITDA % 10.7% 10.3% Adjusted Profit before tax 8.6 7.3 Adjusted Profit after tax 8.0 6.2 Adjusted Diluted EPS (pence) 23.7 18.5 10
Slide 11: Divisional Results
Divisional Results AES MII Central FY25 AES MII Central FY24 £’m £’m £’m £’m £’m £’m £’m £’m Revenue: Original equipment 99.9 4.6 - 104.5 81.0 3.3 - 84.4 Aftermarket 51.6 0.4 - 51.9 51.9 0.4 - 52.2 Total Revenue 151.5 4.9 - 156.4 132.9 3.7 - 136.6 Operating profit/(loss) 15.2 (5.7) (1.6) 8.0 11.0 (4
Slide 12: Balance Sheet
Balance Sheet FY25 FY24 £’m £’m Tangible fixed assets 27.9 29.6 Goodwill 27.8 27.9 Other intangibles 41.5 33.6 Deferred tax asset & pension surplus 5.1 3.8 Working capital 39.6 38.9 Provisions (2.5) (1.8) Tax liability (0.4) 0.1 Net debt (16.9) (11.8) Creditors > 1 year (0.3) (0.3) Deferred tax liab
Slide 13: Movement in net debt (£'m)
Movement in net debt (£’m) Advanced Engineering Medical & Industrial Imaging Central Systems The Advanced Engineering Systems (“AES”) 21.5 division had strong cash-generation in the year. (1.5) AES’s free cash flow was £16.2m (FY24: £5.7m). (3.8) The £10.5m of Medical & Industrial Imaging capex (3.6
Slide 14: Summary and Outlook
Summary and Outlook Delivered on full year expectations, which were upgraded in May 2025 Order book: best order cover position since before the pandemic AES: strong performances at Hayward Tyler and Ormandy underpinned record results for the division Medical: orders and revenue gradually bui
Slide 15: Appendix
Ds. Avingtrans Appendix 15
Slide 16: Our values
/ Avingtrans Our values A High Performance Business Integrity Quality Agility We mean what we say and do what we say we Right first time, on time. Our products and We adapt rapidly and cost effectively - in will do, with respect for all concerned services have enduring value to our customers respons
Slide 17: Blue chip client partnerships
Blue chip client partnerships 17
Slide 18: Diversified end markets
Diversified end markets Revenue split by region* (FY25) By industry (FY25) Pollution Other reduction 1% Other Oil & Gas 3% 17% 7% Industrial (incl. UK transport & 36% gov.) 36% Nuclear 21% China 22% Conventional USA power 24% 32% Revenue split by region* - based on location of customer 18
Slide 19: Our locations and employees (19 September 2025)
Our locations and employees (19 September 2025) UK 704 China USA 177 India 81 11 Australia 38 19
Slide 20: Our proven strategy in action - Pinpoint
Our proven strategy in action - Pinpoint Strengthening the portfolio A Gear Metering Pump • The Group acquired the S&P assets for £4.1m in August 2023 • S&P manufacture specialist gear metering pumps • Extends product portfolio – including aftermarket offering • Modern, well-invested leased site in
Slide 21: Our proven strategy in action - Invest
Our proven strategy in action - Invest Developing world class products Vet dental 3D X-ray scan • Adaptix – making compact 3D X-ray systems • Magnetica – making compact helium-free MRI systems • Initial markets are orthopaedic, veterinary and NDT* • High-quality product images commended by customers
Slide 22: Our proven strategy in action - Exit
Our proven strategy in action - Exit Building and returning shareholder value PB acquired for c£9m as part of HTG in 2017 Exit of PB for enterprise value of £35m in March 2021 Gross return on original capital investment almost 4X 3rd successful exit for Avingtrans since 2013 • Avingtrans is committe
Slide 23: M&A – successful exits
M&A – successful exits Brand Acquisitions Bought for £m1 Sold for £m1 JRT Ltd JenaTec Inc 4.0 14.5 JGWT GMBH Boneham & Turner (FY02 - FY09) (FY13) Moss Group Sigma Components B&D Patterns C&H Composites Eng Group 22.0 65.0 Aerotech Tubes PFW Farnborough (FY07 - FY16) (FY16) RMDG Rolls Royce Nuneaton
Slide 24: Environment, Social and Governance (ESG)
Environment, Social and Governance (ESG) • Our goal is to ensure sustainability is embedded into our pinpoint-invest-exit business strategy. Our approach to sustainability is aligned with the UN’s Sustainable Development Goals (SDGs). We consider the following to be our priorities: Development of ne
Slide 25: Sustainability: progress
Sustainability: progress Feb Jan May 2019 2020 2025 SCR Pump ISO 14001 May Carbon intensity Our Hayward Tyler Environmental Jan Oct 2022 May FY25 Group carbon business secures its Management 2021 2021 Carbon tracking 2023 intensity falls to 19.1 first order for SCR Our Kunshan site gains Acquisition
Slide 26: Sustainability: Renewables integration
Sustainability: Renewables integration Selective Catalytic Reduction (SCR) is an exhaust-cleaning step that removes nitrogen oxides from coal and gas power station flue gasses. Nitrogen dioxides are linked to several serious heart and lung conditions. To work effectively the SCR requires flue gases
Slide 27: Market capitalisation progression (£m)
Market capitalisation progression (£m) Returned £19m to shareholders; Purchased SciMag & Whiteley Read 2016 50 Purchased HTG & Ormandy Group assets 2017 43 19 Purchased Tecmag; Exited Whiteley Read 2018 67 Purchased Booth & Energy Steel 2019 71 CV-19 pandemic 2020 77 commences Purchased Magnetica (5
Slide 28: Long-term share price growth outpacing the market
Long-term share price growth outpacing the market Avingtrans plc, up 86% FTSE AIM All-share, down 21% Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 28
Slide 29: Largest investors
Largest investors Ordinary shares of 5p each Number of % of total shares (000s) shares Harwood Capital 4,030 12.2% Funds managed by Business Growth Fund 2,363 7.1% Funds managed by Downing LLP 1,957 5.9% Funds managed by Unicorn Asset Management Ltd 1,830 5.5% Funds managed by TrinityBridge 1,796 5.
Slide 30: Dividend growth (pence per share)
Dividend growth (pence per share) Suspended due to Covid 2.9 3.0 2.8 2.6 2.3 2.4 2.1 2.2 2.0 4.0 1.6 1.7 1.8 1.9 1.1 1.2 1.3 1.4 1.0 - FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Interim Full year 30