Strip Tinning Holdings PLC reported its financial results for the year ended 31 December 2025, showing a performance in line with market expectations. The company highlighted operational enhancements and a strong sales order book, positioning it for accelerated growth. Key financial highlights include total revenues of ยฃ8.6 million, a significant increase in Battery Technologies division sales to ยฃ2.1 million, and improved gross margins to 40.0%. Operationally, the company is well-positioned for growth, particularly in the Battery Technologies division, with an increasing order book and strong pipeline. The company also improved its cash position, generating ยฃ1.6 million in operating activities and reducing cash burn through cost and capex reductions. The outlook is positive, with expectations of being EBITDA positive from FY26 onwards and cash generative from FY27. The company is focused on delivering new projects and securing additional funding to support its growth initiatives.
| Financial Metric | 2024 | 2025 | Change |
|---|
| Total Revenues (ยฃ'000) | 9,027 | 8,592 | -435 |
| Battery Technologies Division Sales (ยฃ'000) | 1,000 | 2,100 | 1,100 |
| Glazing Division Sales (ยฃ'000) | 8,000 | 6,500 | -1,500 |
| Gross Margins (%) | 33.1% | 40.0% | 6.9% |
| Adjusted EBITDA (ยฃ'000) | (1,900) | (500) | 1,400 |
| Cash Generated from Operating Activities (ยฃ'000) | (2,300) | 1,600 | 3,900 |
| Cash at Year End (ยฃ'000) | 512 | 617 | 105 |
| Basic EPS (pence) | (25.9) | (11.6) | 14.3 |
| Total Debt (ยฃ'000) | 6,652 | 6,521 | -131 |
### Explanation:
1. **Total Revenues**: Decreased by ยฃ435,000 from ยฃ9,027,000 in 2024 to ยฃ8,592,000 in 2025.
2. **Battery Technologies Division Sales**: More than doubled from ยฃ1,000,000 in 2024 to ยฃ2,100,000 in 2025.
3. **Glazing Division Sales**: Decreased by ยฃ1,500,000 from ยฃ8,000,000 in 2024 to ยฃ6,500,000 in 2025.
4. **Gross Margins**: Improved from 33.1% in 2024 to 40.0% in 2025.
5. **Adjusted EBITDA**: Improved by ยฃ1,400,000 from a loss of ยฃ1,900,000 in 2024 to a loss of ยฃ500,000 in 2025.
6. **Cash Generated from Operating Activities**: Swung from a use of ยฃ2,300,000 in 2024 to a generation of ยฃ1,600,000 in 2025.
7. **Cash at Year End**: Increased by ยฃ105,000 from ยฃ512,000 in 2024 to ยฃ617,000 in 2025.
8. **Basic EPS**: Improved by 14.3 pence from a loss of 25.9 pence in 2024 to a loss of 11.6 pence in 2025.
9. **Total Debt**: Decreased by ยฃ131,000 from ยฃ6,652,000 in 2024 to ยฃ6,521,000 in 2025.