Avingtrans (AVG) H2 2025 earnings summary

Executive summary

• Delivered on upgraded full-year expectations, with strong order book and improved results across key divisions.

• Resilience supported by regional supply chains and effective tariff risk mitigation.

• PIE (Pinpoint-Invest-Exit) strategy continues to drive organic growth and value through M&A.

Financial highlights

• Group revenue rose to £156.4m, up from £136.6m year-over-year.

• Adjusted EBITDA increased to £16.7m from £14.0m; adjusted diluted EPS up to 23.7p from 18.5p.

• Gross profit margin slightly decreased to 31.7% from 32.2%.

• Net debt (excluding IFRS 16) at £12.3m, better than expectations.

• Total FY25 dividend increased to 4.9p.

Outlook and guidance

• Board remains confident in strategy and prospects, maintaining vigilance amid market conditions.

• Medical division expected to see revenue build in FY26 and FY27 as investments mature.