Trading Update
Summary by AI BETAClose X
Zotefoams plc
("Zotefoams" or "Group")
Trading Update
27 May 2026 - Zotefoams, a world leader in high-performance foams, provides a trading update for the four months ended 30 April 2026 (the "period"), ahead of its Annual General Meeting to be held today.
The Group reports strong trading in the period, with overall revenue increasing by 26% year-on-year to £64.1 million. Performance reflects robust demand across key markets and the contribution from Overseas Konstellation Company (OKC), offsetting the anticipated moderation in Footwear.
Trading performance in the period
|
· |
In EMEA, revenue increased 24% year-on-year to £50.1 million, driven by the £9.8 million contribution from OKC. The underlying EMEA business was stable against a strong comparator (£40.4m) which benefited from exceptionally high Footwear volumes. Footwear, which is the largest component of the Consumer and Lifestyle vertical, saw revenues moderate as expected. Transport & Smart Technologies, including aviation, space, and automotive applications, continued to grow maintaining the momentum observed last year. |
|
· |
North America achieved strong growth, with revenue of £12.1 million, up 30% organically year-on-year. This reflects the benefit of recently expanded capacity from our second low-pressure vessel and demand in Consumer & Lifestyle and Transport & Smart Technologies verticals. |
|
· |
Asia also delivered good growth, with revenue of £1.9 million, roughly double the prior year period. The Group continues to invest in Vietnam and South Korea with operations expected to commence towards the end of the year.
|
This momentum, together with the continued focus on operational improvements and cost efficiency, have supported margins in the period in line with expectations. Cash generation has been similarly robust, reflecting our ongoing focus on working capital efficiency.
The Group continued to make progress on its key strategic initiatives. The integration of OKC is in line with plan. Major growth projects in Asia remain on track, with construction of the new Vietnam facility and the Footwear Innovation Centre in South Korea progressing as expected. The Group is advancing the use of AI to drive productivity and innovation, and the Global Approved Partners programme has launched with initial partners announced across key industries and regions.
2026 Outlook
The Board is encouraged by the solid start to 2026 and its full-year expectations remain unchanged. Whilst mindful of elevated uncertainty in the macroeconomic backdrop, we continue to expect demand in key target markets, together with the contribution from OKC, to more than offset the moderation in Footwear.
The Group is actively monitoring the impacts of instability in the Middle East, has taken steps to mitigate the impact of raw materials and other cost movements, and is well-positioned to adapt to evolving conditions.
The Board remains confident in the Group's full year expectations and long-term prospects.
Commenting on the update Ronan Cox, Group CEO of Zotefoams, said:
"I am pleased with the business performance in the period, with growth delivered despite increased macro volatility.
We have made good progress integrating OKC and advancing our major projects in Vietnam, South Korea and the UK, bringing us closer to our customers and adding capacity for the next phase of growth.
Our focus on innovation, pricing and cost discipline continues to underpin performance. With trading in the first four months in line with the Board's expectations, we remain confident in delivering our full-year objectives, supported by a strong balance sheet and continued demand across our key target markets."
Note: The Board notes that current market expectations for the year ended 31 December 2026, prior to release of this trading statement, are revenue of £190.8m and adjusted profit before tax of £26.3m.
- Ends -
Enquiries:
|
Zotefoams plc |
IFC Advisory (Financial PR & IR) |
|
Ronan Cox, Group CEO Nick Wright, Group CFO
+44 (0) 208 664 1600
|
Graham Herring Tim Metcalfe Zach Cohen
+44 (0) 203 934 6630
|
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in high-performance foam technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE® polyolefin and ZOTEK® high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets.
Zotefoams is headquartered in London, UK, with manufacturing sites in Croydon, UK, Kentucky, USA and Brzeg, Poland (foam manufacture), Oklahoma, USA (foam products manufacture and conversion), Anglesola and Burgos, Spain (foam manufacture) and Jiangsu Province, China (T-FIT).
www.zotefoams.com
AZOTE®, ZOTEK® and T-FIT® are registered trademarks of Zotefoams plc
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
- 17 hours ago Savannah Energy
- 18 hours ago Buccaneer Energy PLC
- 18 hours ago Savannah Energy
- 18 hours ago Carclo
- 18 hours ago Schroder Japan Growth Fund