Trading Update and Directorate Changes
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
22 June 2026
Equipmake Holdings plc
("Equipmake" or the "Company")
Trading Update
Directorate Changes
Equipmake, a market leader in engineering-driven differentiated electrification technologies, products and solutions for the off-highway, on-highway, and aerospace and defence sectors, is pleased to provide an update on trading for the year ended 31 May 2026 and announces changes to Company's board of directors (the "Board").
Trading update
In line with the expectations outlined in the Company's interim results, announced on 27 February 2026, trading in the second half of the financial year ended 31 May 2026 ("FY26") has shown significant improvement over the first half, in particular reflecting revenue starting to be recognised from the approximately £8.8 million of orders received from Agrale S.A. since September 2025. As a consequence, the Company expects, subject to audit, to report revenue (excluding grant income) in excess of £8 million for FY26 (FY25 £3.5 million, H1 FY26 £1.44 million).
A further update on FY26 trading will be released in due course.
Board changes
The Company is pleased to announce the appointment of Jason Abbott, currently the Company's Operations Director, to the Board as Chief Operating Officer with immediate effect. Jason joined Equipmake in September 2024 and leads the Company's manufacturing, procurement, quality and safety functions. Prior to joining Equipmake Jason spent 23 years at Johnson Matthey, latterly as a Director of Manufacturing Operations.
Ian Selby, Chief Financial Officer, has informed the Board that he wishes to step down from his responsibilities at Equipmake to focus on his other business interests. The Board has agreed with Ian that he will step down from the Board on 26 June 2026. Ian is working with the Company to ensure an orderly handover of his responsibilities and he will remain available to the Company on a consultancy basis going forward as required. The Board has appointed a highly experienced financial consultant to supplement the Company's existing finance team pending the appointment of a permanent CFO replacement.
Tim Metcalfe, Chairman of Equipmake, commented: "I am pleased to report that trading in the second half of the financial year to 31 May 2026 met the Board's expectations. The Company has made substantial progress over the past twelve months and is seeing growing commercial traction based on a clear strategy focused on scalable, higher-margin opportunities.
"To reflect the Company's focus on operational delivery I am pleased to welcome Jason Abbott to the Board. Jason has already made a substantial contribution to Equipmake since joining the Company in September 2024 and I look forward to the Company continuing to benefit from his considerable skills and experience.
"I would like to thank Ian Selby for his significant contribution to Equipmake over the past year, particularly with regard to enhancing the Company's financial systems and controls. The last year has been a transformational one for the Company and on behalf of everyone at Equipmake I wish him well in his future endeavours."
Ian Selby commented: "I am pleased to have been part of Equipmake's journey during the last year, a period of significant progress for the Company. The Company is making great strides and I have enjoyed working with the team to progress the business and its infrastructure. I look forward to continuing to support the business."
Disclosures required pursuant to Rule 4.9 of the Aquis Growth Market Apex Rulebook
Jason Arthur Russell Abbott has the following current and previous directorships, over the last five years, to declare.
|
Current directorships |
Former directorships, within the last five years |
|
Athenians Ltd |
Johnson Matthey South Africa Holdings Ltd Johnson Matthey South Africa PTY |
Jason Abbott does not hold any securities issued by the Company. There is no further information which is required to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.
For further information, please contact:
|
Equipmake Tim Metcalfe, Non-executive Chairman Ian Foley, CEO |
Via IFC |
|
VSA Capital (Financial Adviser, Aquis Corporate Adviser and Broker) Andrew Raca / Brian Wong |
Tel: +44 (0) 20 3005 5000
|
|
IFC Advisory (Financial PR and IR Adviser) Graham Herring / Zach Cohen |
Tel: +44 (0)20 3934 6632 equipmake@investor-focus.co.uk |
Sign up for Equipmake updates here: https://investors.equipmake.co.uk/auth/signup
About Equipmake
Equipmake is a UK-based industrial technology company specialising in the engineering, development and production of electrification products to meet the needs of the automotive and other sectors in support of the transition from fossil-fuelled to zero-emission drivetrains.
Equipmake is a leader in high performance technologically advanced electric motors, inverters and complete zero-emission electric drivetrains and power electronic systems. Equipmake has developed a vertically integrated solution providing fully bespoke solutions to its customers. The Company is focussed on accelerating traction with OEM and Tier 1 suppliers in relation to higher margin component and drivetrain supply under long-term growth contracts.
Key differentiators of the Company offerings are its advanced technology and performance, reliability and adherence to ASIL-D1 functional safety. Equipmake's advanced motor and inverter technology, featuring ASIL-D compliance, are designed to customers' highest functional safety standards. With decades of experience in electric drivetrain integration and a dedicated prototype vehicle testing facility, Equipmake can significantly accelerate product development for customers.
Further investor and background information may be found on the Company's website, including video interviews and interested parties can sign up to follow the company at:
https://investors.equipmake.co.uk/
1 Automotive Safety Integrity Level ("ASIL") is a risk classification scheme defined by the ISO 26262 - Functional Safety for Road Vehicles standard and is a critical requirement for road vehicles. Of the four ASILs identified by the standard, ASIL-D dictates the highest integrity requirements on the product, which require exceptional rigour in their development.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 11 hours ago Johnson Matthey
- 12 hours ago Galliford Try
- 12 hours ago Galliford Try
- 12 hours ago Centrica
- 13 hours ago Smith & Nephew