Autins Group plc

("Autins", the "Company" or the "Group")

Year-end Trading & Business Update

Strong Strategic Progress, Major Contract Wins and Substantial Margin Expansion

Autins Group plc (AIM: AUTG), the UK and European-based manufacturer of its proprietary Neptune melt-blown material and specialist in acoustic and thermal insulation solutions, provides a trading update for the year ended 31 March 2026 ("FY26"). The Company is pleased to report a year of substantial strategic progress, decisive margin expansion and significant new contract wins, with the Group returning to net profit for the first time since 2017.

FY26 Highlights: A Return to Net Profit

The Group has delivered a positive performance and tangible strategic progress in a challenging market, with profitability metrics moving sharply in the right direction.  Underlying numbers are as follows:

•    A return to net profit of £0.17 million (12 months to 31 March 2025: £1.2 million loss), a year-on-year improvement of more than £1.37 million, with momentum accelerating into the second half as operational efficiencies gained further traction.

•     Earnings per share 0.3p (12 months to 31 March 2025:  loss per share 2.2p)

•    EBITDA up 71.4% to £2.4 million (12 months to 31 March 2025: £1.4 million), representing 13.6% of sales This is a step-change in operating profitability.

•    Gross margin expanded 430 basis points to 36.4% (12 months to 31 March 2025: 32.1%), reflecting the success of operational efficiencies and disciplined commercial execution.

•   Gross profit increased to £6.4 million (12 months to 31 March 2025: £6.2 million), demonstrating the structural improvements we have made across our business.

•   Revenue of £17.6 million (12 months to 31 March 2025: £19.3 million), reflecting the well-publicised cyber-attack on the Group's largest UK customer, together with the delay of certain customer tooling sales.  Underlying customer demand and order intake remain robust.

These results reflect the continued success of the "Survive and Thrive" strategy, which has driven meaningful margin expansion and operational improvements across the UK, German and Swedish businesses.

Separate from our underlying results we are recognising non underlying costs of £807k - this is the direct impact of the disruption caused by the cyber-attack (£534k) and a one-off cost related to our flooring business in Germany (£273k).  We have offset these costs with a one-off gain related to the cessation of a commercial agreement (£802k).   

Significant New Contract Wins: Providing Enhanced Multi-Year Revenue Visibility

Throughout the period, Autins has secured a major new wave of contracts that will materially enhance the Group's revenue visibility, customer diversification and long-term growth:

•     UK: £12.0 million of new and transfer business, peaking at approximately £2.4 million per annum. The transfer element is already in production, providing immediate revenue contribution.

•    Germany: €4.3 million of new business, peaking at approximately €0.9 million per annum, including a strategic Lightfoam award with a new customer that opens a meaningful new growth avenue with additional opportunities in the pipeline.

These awards follow more than two years of focused commercial effort and reflect growing customer confidence in the Group's technical capabilities, quality and reliability. Together, they provide a solid platform for sustained organic growth in the years ahead.

Future financial performance

The Board is now guiding to FY27 revenues of £22 million against market expectations of £24 million. Reflecting the better than expected efficiency gains delivered in FY26 rolling into FY27, the Board confirms that its' FY27 EBITDA expectations of £3.1 million are in line with current market expectations. The Board is now also guiding to FY27 profit after tax of £0.8 million versus current market expectations of £0.7 million.

The Board is guiding to FY28 revenues of £26 million in line with current market expectations of £25.9 million, with growth against FY27 supported by the full year benefit of recently secured contracts, particularly for new platforms supplied from our German and Swedish operations. The Board confirms that it now expects FY28 EBITDA to be £3.8 million reflecting enhanced operational leverage, against current market expectations of £3.4 million. The Board expects this to result in additional substantial contribution to profit and is therefore now guiding to a FY28 profit after tax of £1.4 million versus current market expectations of £1.0 million.

The Board expects further growth in revenue, EBITDA and profit after tax in FY29 onwards, substantially underpinned by secured contracts across the geographies served by the Group.

While risks remain that vehicle production volumes may underperform initial assumptions, or that certain new platform launches may be delayed, the Board believes these are well balanced by opportunities for additional transfer business and further contract awards over the forecast period.

Note: references above to market expectations reflect the Board's understanding of market expectations for FY27 and FY28 immediately prior to publication of this announcement.

Industry Consolidation: platform for M&A

The UK automotive supply chain has faced significant headwinds over recent years. In the past few months, it has become clear that this is now translating into an accelerating trend of industry consolidation. The Board believes that, as a direct result of Autins' strategic focus and commercial restructuring over the past few years, the Group is well placed to capture further growth opportunities arising from consolidation situations within the UK supply chain with the potential for additional, immediate sales uplift.

Disciplined Balance Sheet Management:

The Group has continued to meet all its borrowing obligations through the year. Only one further repayment of £144,000 remains on the Group's CBILS facility with HSBC, due July 2026 after which this legacy facility will be fully discharged.

Net debt at the year-end stood at approximately £1.6 million (31 March 2025: £1.1 million), the movement principally reflecting the working capital impact of the customer cyber-attack referenced above. With improving profitability and disciplined cash management, the Board expects net debt to trend downwards as the new business wins ramp up.

Outlook: Entering the Growth Phase

Having successfully navigated a period of well-publicised industry headwinds, the Group has moved to the "Thrive" element of its "Survive and Thrive" strategy and is fully focused on delivering sustainable, profitable growth.

With an expanded and more resilient order book, embedded operational efficiencies, a structurally stronger gross margin and a deleveraging balance sheet, Autins is well placed to capitalise on its strengthened market position. While the European automotive sector remains subject to macroeconomic and geopolitical volatility, the Board is confident that the combination of new business momentum, margin discipline and financial flexibility will enable the Group to deliver long-term value for shareholders.

All figures are unaudited. The Group expects to publish its audited FY26 results on or around 30 June 2026. Further details on the next phase of the Group's growth strategy will be provided when the FY26 results are published.

Andy Bloomer, Chief Executive Officer, commented:

"I am delighted with the trading update we provide today. The Group has achieved its first  net profit since 2017 - this is a fantastic achievement by the entire Autins team. 

The Group has shown tremendous resilience and commercial focus in the last 12 months, winning the trust of both existing and new customers through consistent delivery and innovation and we now enter a profitable growth phase. We're well positioned, with good visibility on future revenues as new contracts come through, and we remain focused on delivering sustainable value over the medium term.

Despite the existing and new headwinds in the automotive industry and wider economic climate, the outlook for Autins is positive and we look forward to updating the market as these new programmes ramp up."

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About Autins

Autins is a UK and continental Europe based industrial materials technology business that specialises in the design, manufacture, and supply of acoustic and thermal products. Its key markets are automotive, flooring, office furniture and commercial vehicles where it supplies products and services to more than 160 customer locations across Europe.

Autins is the UK and European manufacturer of the proprietary Neptune melt-blown material and specialises in the design, manufacture, and supply of acoustic and thermal insulation solutions.