VELOCITY COMPOSITES PLC (VEL) — Full Year Results for the twelve months ended 31 October 2025

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the VELOCITY COMPOSITES PLC Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review your questions submitted today and publish responses what is appropriate to do so. Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, John Bridges. Good morning to you, sir. Good morning, and welcome, everyone, to our presentation for financial year ending 10/31/2025. Hope you're well and usual format around myself and Rob taking you through the headlines in the presentation and then picking up questions afterwards. So getting started, if we look, you see the headlines there. We'll cover all the points and the reasons behind some of these numbers in a moment, and Rob will take you in detail through the financials. But essentially revenue a little bit down due to some of the reasons that we'll discuss, but a lot of work gone on internally to drive gross margin, which again we'll cover off in a moment. And if we look at the year in review, clearly, think really 2025 industry wise has been very similar to 2024 for this pretty much the same reasons. Hopefully, as we go into '26, we'll talk about that in a minute. Some of these issues will clear, but in terms of the industry wise, we're seeing the Spirit reacquisition by both Boeing and Airbus obviously clearing and a lot more clarity there at the sites involved. And for us what that means is a lot of the...