Petards Group plc (AIM: PEG), the AIM quoted developer of advanced security, communication and surveillance systems, is pleased to report its audited final results for the year ended 31 December 2025.

Key Highlights:

• Financial
  • Total revenues £14.9 million (2024: £12.0 million)
  • Gross profit margin 49.7% (2024: 45.3%)
    – Margins improved across all the Group’s operations
  • Adjusted EBITDA¹ increased to £1,002,000 (2024: £410,000)
  • Operating loss £435,000 (2024: £774,000 loss before exceptional items)
  • Reduction in loss after tax to £406,000 (2024: £1,127,000 loss)
  • Basic and diluted loss per share 0.67p (2024: basic and diluted loss per share 1.91p)
  • Net cash inflow from operating activities £1,384,000 (2024: £194,000)
  • At 31 December 2025, net debt (before lease liabilities) totalled £1,339,000 (31 Dec 2024: net debt £1,535,000)²

• Operational
  • Revenue growth with first full year contribution from Affini and improvement at Petards Rail
  • Over 50% of revenues from service, engineering support, spares, repairs and managed services
  • Reduced revenues at QRO due to delays in customer order placement were offset by stronger performances at other operations, with QRO expected to regain momentum over 2026
    – QRO completed its move to larger premises in February 2026 to facilitate future growth
  • Increased order intake in H2 2025 at Petards Rail and Petards Defence
  • Order book at 31 December 2025: £9.2 million (31 Dec 2024: £7.1 million)
    – £7.7 million for delivery in 2026

¹ Adjusted EBITDA comprises operating profit adjusted to remove the impact of depreciation, amortisation, exceptional items and acquisition costs. A reconciliation of adjusted EBITDA to operating profit is included on the face of the consolidated income statement.

² Total net debt comprises cash and cash equivalents less interest bearing loans and borrowings.

Commenting on the current outlook, Raschid Abdullah, Chairman, said:

“The Group’s £9.2 million opening order book and its revenue coverage for 2026 is encouraging and provides a solid base from which the business can progress.

We enter 2026 in a stronger position than has been the case in the past few years. While customer order placement decisions continue to be taking some time, I am pleased to report that 2026 has started well with first quarter Group earnings in line with the Board’s expectations. Given the strength of the opening order book and its cover for 2026, the Board is confident that the Group is well placed to deliver a continued improvement in its trading performance in the coming year.”

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Download RNS announcement