25 February 2025
Aurrigo International plc
("Aurrigo" or the
"company")
Full Year Trading
Update
Strong growth in Autonomous
revenues supports a positive year
Aurrigo International plc (AIM: AURR), a
leading international provider of transport technology solutions,
provides an update on trading for the year ended 31 December 2024.
The company has made good progress in the year. The board expects
to report revenues of £8.9m, in line with expectations, and an
adjusted EBITDA loss of £1.9m, ahead of expectations, with loss
before tax also expected to be better than expectations as a
result.
The Autonomous division continued to grow
strongly, delivering revenue of £2.9m, up 433% from the prior year
(2023: £0.5m). The Automotive division continues to underpin the
company's performance and deliver steady cash generation and is
expected to report revenue of £5.9m, comparable with the prior year
(2023: £6.1m).
The company expects to report net cash of £3m
at year end and following the completion of a subsequent funding
round in January 2025 the company is well capitalised to support
its next phase of growth.
The company expects to announce audited results
for the year ending 31 December 2024 in May 2025.
David Keene,
CEO of Aurrigo International, commented:
"FY24 was another
significant year of success for Aurrigo. The team has worked
tirelessly to drive growth and deliver best in class services and
solutions for our customers. The strong growth we have seen in the
Autonomous division reflects the demand for our smart airside
solutions as airports seek to reduce costs and emissions while
improving efficiency. With an expanding partner network and healthy
sales pipeline, we look ahead to further Autonomous growth,
supported by our Automotive division."
* The company considers that the forecasts for
the year ended 31 December 2024 are revenue of £8.9m, cash of £3m
and an adjusted loss EBITDA of £2.7m
For further
enquiries:
|
Aurrigo
International plc
David Keene, Chief Executive Officer
Ian Grubb, Chief Financial Officer
|
+44 (0)2476 635818
|
|
Canaccord
Genuity (Nominated Adviser and Sole Broker)
Adam James
Harry Pardoe
|
+44 (0)20 7523 8000
|
|
Alma Strategic
Communications
Hilary Buchanan
Caroline Forde
Will Ellis Hancock
|
+44(0)20 3405 0205
|
|
Cucumber
PR
Russ Cockburn
|
+44 (0)78 1260 0271
|
Notes to
Editors:
Aurrigo International plc is an international
designer and developer of fully integrated smart airside solutions
for the aviation industry, including automated vehicles, systems
and software.
The Group's proprietary, award-winning
autonomous technology and secure management system is supporting
some of the world's leading airports. Customers choose to partner
with Aurrigo to transform their baggage and cargo handling
operations, improving safety, operational efficiencies and meeting
sustainability targets, while navigating growing passenger volumes,
rising costs and increasing labour shortages.
Headquartered in Coventry, UK with offices in
Singapore and Ottawa, the Group has a 30+ year heritage designing
and supplying automotive vehicle manufacturers with highly
advanced, innovative product and system solutions. For more
information, please visit the Group's website at www.aurrigo.com.
