# AB Dynamics plc Considerable progress & significant growth

- Link: https://www.directorstalkinterviews.com/ab-dynamics-plc-considerable-progress-significant-growth/412739949
- Published: 2017-11-15T07:27:13+00:00
- Author: Giles Arbor

**AB Dynamics plc** (LON:ABDP), a designer, manufacturer and supplier of advanced
testing systems and measurement products to the global automotive industry, is pleased
to announce its final results for the year ended 31 August 2017.

**Financial highlights**

· Revenue increased 20.0% to £24.6m* (2016: £20.5m)

· Adjusted operating profit increased 26.2% to £5.9m (2016: £4.7m)**

· Adjusted fully diluted EPS increased by 22.5% to 28.28p (2016: 23.09p)**

· Final dividend of 2.00p per ordinary share, 3.331p for the year up 10% (2016: 
3.025p)

· Strong balance sheet with net cash of £9.6m (2016: £10.4m)***

* The adoption of IFRS 15 for revenue recognition has resulted in the deferral of
approximately £1m of revenue from 2017 into 2018

** Adjusted to exclude share option costs of £1.5m (2016: £0.3m)

*** After capital expenditure of £8.0m (2016: £1.6m) and £6.0m (net) equity fundraising
in December 2016

**Operational Highlights**

· Completing the move into new £8.4m state of the art factory and offices

· Demand for Driving Robots and Guided Soft Targets at an all-time high

· Advance Drive Assistance Systems (“ADAS”) market continues to show strong growth
as OEMs develop vehicle capabilities

· Conducting demonstrations of new advanced Vehicle Dynamic Simulator (“aVDS”) as
project moves towards commercial production

· Record order book providing visibility into Q3 FY2018

· Oversubscribed equity fundraising in December 2016, to support development of 
new products and services, new facilities and enhanced routes to market

> **Tim Rogers, CEO of AB Dynamics Plc, commented:** “AB Dynamics has made considerable
> progress in the last financial year, with significant growth seen in both revenue
> and adjusted operating profit.
> I am pleased to report a healthy forward order book with automotive OEM’s continuing
> to advance their ADAS and autonomous vehicle programmes. This supportive backdrop,
> reinforced by regulatory change, has enabled the Group to build a strong order
> book that provides good forward visibility.
> We have an extremely capable and dedicated team at AB Dynamics and I am very proud
> of what we have achieved over the last five years. We are continuing to invest
> in new products, our people and our processes, and the Group remains focused on
> the future business opportunities within our marketplace.
> I believe there is a solid platform for the next phase of the Group’s development
> and growth, and I wish the next Chief Executive every success in taking the Group
> forward.
> I am very proud of what the Group has achieved since its IPO in 2013 and would
> like to thank our customers, employees and shareholders for their support over
> the last four years. I believe that the next Chief Executive of AB Dynamics has
> a fantastic foundation on which to build on and I wish them and the Company every
> success in the future. We will look to update the market on this recruitment shortly.”

Share on: