AIREA (AIEA) Trading update summary

Trading performance

• FY24 sales were £21.23m, up 0.6% YoY; H2 sales grew 6.0% YoY.

• UK and ROI sales rose 2.4% for FY24 after H1’s 0.3% decline; international sales fell 5.7%, improving from a 21.9% H1 shortfall.

• Order book remained strong at the period end; a satisfactory FY24 result is expected after non-recurring facility costs and investment in people and resources.

Products and sustainability

• Carbon-neutral and low-carbon ranges saw strong demand; several H2 product launches were well received.

• Innovation and sustainability investment is accelerating to address customer needs.

Manufacturing investment and working capital

• Major facility investment is nearing completion; equipment installation is expected in Q2 and commissioning in Q3 2025, increasing volumes and improving efficiency.

• Inventory at FY24 end was below the prior-year level; working capital efficiency and cash generation remain priorities for H1 2025.