Nanoco Group PLC, a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials, announces its unaudited Group Preliminary Results for the year ended 31 July 2024. The Group has a clear strategy to maximize value and deliver returns, which includes exploring an orderly sale of the Groups trading business, reducing costs, returning surplus cash reserves to shareholders, and appointing Dmitry Shashkov as CEO. The Groups operational summary highlights include delivering its first commercial production orders for two different first-generation materials for use in infra-red sensing materials, commencing Joint Development Agreements with two customers on second-generation sensing materials, achieving ISO 14001 accreditation, and increasing customer engagements. The Groups financial summary shows a 40% revenue increase to £7.9 million, an adjusted EBITDA improvement to £1.2 million, cash of £20.3 million at year-end, and a tender offer of £30 million completed during the year. The Groups Chairman, Dr. Christopher Richards, emphasizes the Boards commitment to achieving the best value for shareholders and outlines plans for a return of surplus cash to shareholders.
| Year | Revenue | Adjusted EBITDA | Cash | Debt |
|---|---|---|---|---|
| 2024 | £7.9m | £1.2m | £20.3m | None |
| 2023 | £5.6m | -£0.4m | £8.2m | £9.5m |