VELOCITY COMPOSITES PLC (VEL) — Results for the six months to 30 April 2025

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the VELOCITY COMPOSITES PLC Investor Presentation. 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 all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll, and I'd now like to hand you over to the management team from VELLOCITY COMPOSITES PLC. Rob, good morning, sir. Good morning. Good morning, everybody. So today, we have myself, Rob Smith, CFO John Bridges, the CEO of the company and Andy Beaton, Non Executive Chairman. So I'd like to introduce start the presentation by just a quick summary of the numbers and then we'll dig into a little bit more. Revenue, 10,400,000, which is slightly down on the preceding half one. But we achieved much better margins due to operational efficiencies and some price increasing flowing through from the tail end of last year, which helped us to achieve an EBIT positive EBITDA in the half, which is the first time we have achieved a positive EBITDA in the first half since the pandemic. And it's the second sequential EBITDA positive half. Cash, we remain positive. We've got $1,200,000 in the bank. And on top of that, we have an invoice discounting facility of up to £3,000,000 that we can utilize. So we've got a good headroom to see us through the next growth period. John, if I can hand over to you. Thanks, Rob. I can't quite read that. But essentially, you know, before going to the the wider presentation, just a bit of an industry outlook. I know we we get asked sort of questions about, you know, what we see on, you know, from our customers and the the sort of wider industry. So I think fundamental...