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| 22 October 2021 |
Zytronic plc
("Zytronic" or the "Company" and together with its subsidiaries, the "Group")
Trading Update
Following the trading update issued on 14 September 2021, Zytronic, a leading specialist manufacturer of touch sensors, provides the following pre-close update.
Although the business continues to see COVID-19 related effects, both nationally and internationally, and particularly related to electronic component supply issues across our full range of touch controllers, we are pleased to announce a considerable turnaround and a return to profitability since the half year ended 31 March 2021. Over the second half there has been an improvement in sales and gross margins, and strong cash generation.
The improvement in trading in the second half of the financial year compared to the first half was significant, with sales increasing by 44% to £6.9m from £4.8m and gross margins increasing by six percentage points to 33.2%.
EBITDA1 for the second half is expected to be around £1.3m and operating profit around £0.8m, enabling the elimination of the reported first half operating loss of £0.3m. For the year to 30 September 2021, we expect to report EBITDA of around £1.5m with an operating profit around £0.5m.
The improvement in trading since 31 March 2021 has also contributed positively to the net cash position which has increased by £1.4m since that date to £9.2m at 30 September 2021.
We expect to announce the results for the year ended 30 September 2021 in the week commencing 6 December 2021.
1 Earnings before interest, tax, depreciation and amortisation
Enquiries:
| Zytronic plc Mark Cambridge, Chief Executive Claire Smith, Group Finance Director
| 0191 414 5511 |
| Singer Capital Markets (Nominated Adviser and Broker) Aubrey Powell, Rachel Hayes, Amanda Gray
| 020 7496 3000 |
About Zytronic
Zytronic is a world-renowned developer and manufacturer of a unique range of internationally award winning optically transparent interactive touch sensor overlay products for use with electronic displays in industrial, self-service and public access equipment.
Zytronic's products employ a sensing solution that is readily configurable and embedded in a laminate core that offers significant durability, environmental stability and optical enhancement benefits to system designers specific requirements.
Zytronic has continually developed process and technological know-how and IP since the late 1990's around two sensing methodologies; the first being single touch self-capacitive which Zytronic markets as PCT™ ("Projected Capacitive Technology") and the second being multi-touch, multi-user mutual-capacitive which Zytronic markets as MPCT™ ("Mutual Projected Capacitive Technology"), in which Zytronic holds five granted patents.
Zytronic operates from a single site near Newcastle-upon-Tyne in the United Kingdom. Zytronic is relatively unique in the touch eco-system as it offers a complete one-stop solution from processing internally the form and factor of the glass substrates, assembles their touch overlay products to customers specific requirements, in environmentally controlled cleanrooms and develops the bespoke firmware, software and electronic hardware to link the interactive overlays to customer's integrated systems and products.
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