Hardide plc (LON:HDD), the provider of advanced surface coating technology, has announced its audited annual results for the year ended 30 September 2024.
“Well placed to deliver profitable growth, cash generation and value creation”
FY24 Financial Highlights:
| £m | H2 24 | FY24 | FY23 | FY24 vs FY23 Change |
| Revenue | 2.6 | 4.7 | 5.5 | -£0.8m |
| Gross margin % | 54% | 48% | 48% | – |
| Adjusted EBITDA* | 0.5 | – | (0.1) | +£0.1m |
| Adjusted EBITDA* % | 19% | – | – | – |
| Cash at 30 Sept. | 0.7 | 0.7 | 0.7 | – |
* Adjusted EBITDA is calculated before one-off restructuring costs.
· An encouraging recovery in the second half year, with H2 revenues of £2.6m compared with H1 revenues of £2.1m.
· Strong H2 gross margin of 54% (H1: 41%), enabling full year margins of 48% to recover to be in line with the prior year.
