Corporate News

Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2023 ("FY23").

Operational Highlights:

US sales continued to progress with growth in the core aerospace and automotive markets. 

• Established a regionalised manufacturer's representative network which is already showing signs of generating improved commercial traction within the North American steel mill, aerospace and automotive sectors for our finished tooling. 
• As part of the commercial rollout, published full tooling parts catalogue and now building stock to support growth.
• We plan to drive further market penetration as additional distribution agreements are concluded.
• Added additional internal sales support with plans to reinforce technical support in Q2 FY24.

Consolidation in the UK of nanomaterial functionalisation technology offering leading to key partnership arrangements anticipated to form bedrock of continued commercial progress:

• continued to optimise and extend the functionality of the HDPlas^® HT1400 plasma reactor installed in 2022:
  • can functionalise nanomaterials for third parties on an industrial scale; and
  • won an Engineering and Manufacturing Awards in September 2023 in the manufacturing technology innovation class.

• Signed commercial agreements with industry partners Saint Gobain, Cadent and Petronas:
  • all have a commercial requirement that may potentially be met through the application of our plasma functionalisation process to their materials or the use of our wider product range; and
  • can help take products to market through their market reach and capability.

• Working with several other nanomaterial producers and end customers where our HDPlas^® process can bring additional value to their end customers.
• Secured financial support from the Welsh Government to continue the development of our key underfloor heating technology. 
• Re-orientated our Thermal fluid technology to focus on Graphene by signing an agreement with an industry partner with expertise and market access.

Financial Highlights

• Revenue at £4.30 million (FY22: £2.90 million) up by 48.3% on prior year, driven predominantly by a continued recovery in the US business.
• Full year impact of the planned FY22 investment in sales, marketing, quality assurance and production capability saw adjusted administrative expenses increase by 12.5% to £6.26 million (FY22: £5.52 million).
• Adjusted operating loss increased slightly by £0.16 million to £3.49 million (FY22: £3.33 million).
• £5.1 million fundraising completed post period end.

Commenting on the results David Banks, Non-executive Chair of Haydale, said:

"We have made important progress in our next planned steps as a business by forging commercial partnerships and collaborations with leading organisations that the Board believe will ultimately help lead to commercial success.   With the fundamental building blocks in place and continuing progress in our key markets, the Board remains confident that the Company will be able to take advantage of the traction it is now seeing."

For further information:

Notes to Editors

Haydale is a global technologies group and service provider that facilitates the integration of graphene and other nanomaterials into the next generation of industrial materials and commercial technologies.  With expertise in graphene, other nanomaterials and Silicon Carbide, Haydale is able to deliver improvements in electrical, thermal and mechanical properties,  Haydale has been granted patents for its technologies in Europe, USA, Australia, Japan and China and operates from five sites in the UK, USA and the Far East.  For more information please visit: www.haydale.com or Twitter: @haydalegraphene

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions.  These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities.  Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company.  Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.  Accordingly, readers are cautioned not to place undue reliance on forward looking statements.  Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.