AIREA (AIEA) H1 2025 earnings summary

Executive summary

• H1 revenue rose 5.8% to £9.817m; underlying operating profit increased 30.5% to £629k, with UK and ROI growth and international sales 0.3% higher.

• Manufacturing facility commissioning is expected by year-end after an expanded upgrade and additional £0.8m investment; customer orders continue to be fulfilled.

• rocklines® and threads® launched, alongside sustainability initiatives and a Dubai showroom generating interest.

Financial highlights

• Revenue was £9.817m, up 5.8%; underlying operating profit before valuation gain was £629k, up 30.5%, and reported operating profit was £283k, up 31.6%.

• EBITDA was £667k versus £622k; profit before tax was nil versus a £0.1m loss, while attributable loss was £207k versus £215k.

• Non-recurring costs were £346k versus £267k, including facility storage, intellectual property, showroom, supply chain and quality investment; they are expected to cease at FY-end.

• Operating cash generated was £1.759m versus £928k used; capital expenditure was £2.542m versus £1.279m.

Outlook and guidance

• July and August trading was positive, supported by a strong order book; the pipeline is strengthening, with innovative H2 product launches planned.

• Commissioning is expected by year-end, later than the original Q3 schedule; delay has not affected customer service, and existing-site decommissioning begins in early 2026.

• Cash preservation remains a priority; no interim dividend is proposed, while the Board remains confident in long-term trading and growth prospects.