Avingtrans (AVG) Trading update summary

Financial performance and outlook

• Profit for the year ended 31 May 2026 will be in line with market expectations, with continued momentum in contract awards across core nuclear and infrastructure markets.

• A one-off repayment of approximately $5.0 million related to US Paycheck Protection Program loans will be made, with no impact on current operations or strategy.

• Audited results for FY26 will be published on 30 September 2026, with a further performance update at that time.

Strategic contract wins and market expansion

• Secured a $4m contract in South Korea for nuclear reactor spare parts, strengthening global nuclear aftermarket presence.

• Won a $1.8m order from BWX Technologies in the US, marking entry into the US nuclear defence market.

• Awarded a £2m contract for high-security doors for HS2, bringing total HS2 contract value to over £50m.

• Data centre sector revenues reached £4m, with a £40m opportunity pipeline identified.

Medical and industrial imaging progress

• Achieved FDA and CE clearances for Adaptix Ortho350, advancing radiology transformation efforts.

• Lower division revenues due to timing of regulatory clearances; focus now on expanding reseller network and reimbursement data.

• First material contract signed in Non Destructive Testing; steady progress with Adaptix Vet product.

• Over 30 orders for quantum computing magnet and cryogenics packages by Scientific Magnetics.

• Division leadership strengthened with new head appointed to accelerate commercialisation.