Equipmake Holdings PLC - Norfolk, England-based electrification solutions developer for the automotive, aerospace, marine, construction and bus markets - Expects revenue for year-ended May 31 of GBP8.1 million, up 60% from GBP5.1 million last year. Full results to be published in September.

Excluding grant revenue, delivery against commercial agreements generated revenue of GBP7.3 million, up 47% from GBP4.3 million last year. Expects revenue from components and powertrain to reach GBP3.0 million, up 25% from GBP2.4 million. Foresees jump in bus repowering revenue to GBP3.9 million from GBP900,000 the year prior. Revenue from technology including engineering projects consultancy expected to fall to GBP400,000 however, from GBP1.3 million. Attributes fall to strategic shift in offering engineering services around core products rather than general consulting services. Reports GBP2.5 million cash balance at May 31. Expects loss before interest, taxes, depreciation, and amortization of GBP7.4 million, widened from GBP3.6 million last year. Attributes loss to increase costs in its bus repowering business.

Looking ahead, expects revenue from bus repowering business to plateau then decrease as it will focus on its higher margin components and powertrain business. Also plans to implement cost-reduction strategies.

Current share price: 4.50 pence

12-month change: down 53%

By Aidan Lane, Alliance News reporter

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