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Surface Transforms (SCE) investor relations material
Surface Transforms H2 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 120% year-over-year to £18.0m for FY25, with record second-half sales of £9.9m.
Operating loss before interest and tax reduced nearly threefold to £8.7m, with significant improvement in the second half.
FY25 marked a transformative year, with substantial progress in scaling production and process improvements.
Demand remains strong, and the business is positioned for growth in 2026.
Financial highlights
Revenue increased to £18.0m from £8.2m in FY24, with H2 revenue of £9.9m versus H1's £8.1m.
Operating loss before interest and tax improved to £8.7m from £23.4m in FY24; H2 loss was £3.5m, down from H1's £5.2m.
Gross cash at year-end was £1.0m, up from £0.5m in FY24.
Capital expenditure rose to £8.6m, supported by full utilisation of a £13.2m ERDF loan.
Customer prepayments stood at £13.3m at year-end, slightly higher than £12.9m at mid-year.
Outlook and guidance
Revenue for FY26 is expected to reach approximately £27.0m.
Management targets EBITDA breakeven in FY26.
New furnace installation is expected to be operational by end of Q2 2026, supporting further growth.
- Revenue up 13%, but net loss widened to £22.3m amid operational and funding challenges.SCE
H2 202425 Feb 2026 - 81% revenue growth offset by operational setbacks and £19.6m loss; outlook remains uncertain.SCE
H2 202325 Feb 2026 - Revenue up 72% to £8.1m, margin at 64%, and full-year outlook raised to £20m.SCE
H1 20256 Oct 2025 - H1 2025 revenue jumped 72–75% as yield and operational performance improved sharply.SCE
AGM 2025 & H1 2025 TU22 Jul 2025 - Scaling up carbon ceramic brake production to capture a growing £2bn market.SCE
AGM 2024 Presentation9 Jul 2025 - Revenue up 58% but losses widen; full-year outlook cut sharply amid cash constraints.SCE
H1 202413 Jun 2025 - Customer support and strategic talks aim to resolve Surface Transforms' Q1 cash constraints.SCE
Q1 2025 TU6 Jun 2025
Next Surface Transforms earnings date
Next Surface Transforms earnings date
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