AGM Trading Statement

Hardide PLC

24 March 2026

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

24 March 2026

Hardide plc

("Hardide", the "Group" or the "Company")

AGM Trading Statement

Hardide plc (AIM: HDD), the provider of advanced surface coating technology, will be holding its Annual General Meeting ("AGM") at 11.30am today, at which the Chair will provide the following update on trading for the financial year ending 30 September 2026.

Year-to-date trading

We are pleased to report that we expect revenues for the first half year ending 31 March 2026 ("H1 FY26") to be approximately £4.5m, representing an increase of over 50% to the comparative period last year (H1 2025: £2.8m). Accordingly, the Group expect to report EBITDA of approximately £1.3m (H1 2025: £0.4m), with operating margins of c.20%.

H1 2026 performance has been underpinned by a series of contract wins, including new production work secured earlier in the year from a major energy sector customer in North America.

Outlook

Following the award of an aerospace contract, announced in December 2024, the Group has now commenced of production work to coat cargo door components for freight aircraft, which is expected to benefit the second half of the year ("H2 FY26").

In parallel, Hardide recently received its first repeat order to coat turbine blades for the power generation sector, following successful field trials, with delivery scheduled for H2 FY26.

The Group also continues to advance numerous development projects, including preliminary work for a major new energy sector customer in the Middle East, which may result in initial production orders later in the year. The Board continues to monitor developments in the region and has not observed any material disruption to this work. Hardide does not currently generate any production revenues in the Middle East, and the Group's energy costs remain modest, at around 3% of revenues, with roughly half fixed through to the end of the calendar year.

Additionally, as previously announced on 26 February 2026, we are currently working with our major new North American customer to establish a framework arrangement and schedule for the future that will support the customer's own business development ambitions and supply requirements beyond the current financial year.

In view of continued strong trading and the promising growth opportunities outlined above, the Board believes the Group is well positioned to deliver on its recently upgraded full-year performance expectations.

For further information:
Hardide plc Matt Hamblin (CEO) Simon Hallam (Finance Director)	Tel: [phone]
Cavendish Capital Markets Ltd - Nominated Adviser and Broker Henrik Persson / Elysia Bough (Corporate Finance) Jasper Berry / Dale Bellis (Sales)	Tel: [phone]

Notes to editors:

www.hardide.com

Hardide develops, manufactures and applies advanced technology tungsten carbide/tungsten metal matrix coatings to a wide range of engineering components. Its patented technology is unique in combining in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments. This results in cost savings through reduced downtime and increased operational efficiency as well as a reduced carbon footprint. Customers include leading companies operating in the energy sectors, valve and pump manufacturing, industrial gas turbine, precision engineering and aerospace industries.

 

END