Avon Technologies Plc, a world leader in protective equipment, released its interim results for the six months ended March 31, 2025. The company reported strong year-on-year growth, with a 24% increase in the closing order book to $247 million. Revenue increased by 16.8% to $148.7 million, reflecting ramp-up of ACH Gen II volumes in Team Wendy and growth in demand for respiratory products in Avon Protection. Adjusted operating profit rose to $17.5 million, a 48.3% increase, resulting in an adjusted operating profit margin of 11.8%. The companys net debt excluding lease liabilities decreased to $54.9 million, and the bank leverage ratio improved to 0.99 times net debt-to-EBITDA. Avon Technologies CEO, Jos Sclater, expressed confidence in their strategy and highlighted the strong order book, revenue growth, and profit growth. The company remains focused on executing its STAR strategy and expects to achieve its medium-term financial targets a year early in FY2026.
| Financials and Debt | 31 March 2025 | 30 March 2024 | Change (constant currency) |
|---|---|---|---|
| Orders received | $170.5m | $190.3m | (10.1%) |
| Closing order book | $247.0m | $199.0m | 24.0% |
| Revenue | $148.7m | $127.1m | 16.8% |
| Adjusted operating profit | $17.5m | $11.9m | 48.3% |
| Adjusted profit before tax | $14.8m | $8.8m | 70.1% |
| Adjusted basic earnings per share | 38.8c | 22.3c | 76.4% |
| Interim dividend per share | 7.6c | 7.2c | 5.6% |
| Net debt excluding lease liabilities | $54.9m | $57.3m | (4.2%) |
| Operating profit | $6.2m | $2.6m | N/A |
| Profit/(loss) before tax | $3.1m | $(1.5)m | N/A |
| Basic earnings/(losses) per share | 8.1c | (3.7c) | N/A |
| Net debt | $74.7m | $76.5m | N/A |