Equipmake Holdings plc (AQSE:EQIP), a market leader in engineering-driven differentiated electrification technologies, products and solutions across the automotive, truck, bus and speciality vehicle industries, has announced its unaudited results for the six months ended 30 November 2025.
Financial Highlights
· Reflecting the Company’s revenue recognition policy and the expected weighting of FY26 revenue to the second half, revenue of £1.44 million (H125: £1.94 million as restated excluding grant revenue).
· Total underlying cash based administrative expenses in the Period reduced by 35% to £1.9 million (H125 £2.9 million) reflecting cost reduction measures undertaken in FY25.
· Loss before taxation of £2.8 million (H125: loss of £4.3 million).
· Cash as at 30 November 2025 of £0.72 million (30 November 2024: £2.0 million).
Operational Highlights
· The Period was the first following the formal strategic review process with the Group benefiting from decisive restructuring and refocusing activities, including a significant reduction in the Group’s cost base.
· Group activities focused on three business areas: off-highway, on-highway and aerospace and defence, with revenue generating activities and strategic partnerships in all areas
· Further £5.45 million order received from Agrale S.A (“Agrale”) for zero emission drivetrain kits with income starting post Period end.
· Purchase order worth £0.55 million from Seahorse Amphibious Vehicles Limited, the designer, manufacturer and supplier of amphibious passenger vehicles.
· Significant progress in the Off-highway sector through the development agreements with Caterpillar and JCB.
· Appointment of Tim Metcalfe as the Company’s Non-Executive Chairman on 2 July 2025.
Post-period Highlights
· As announced earlier today, a further £3.0 million strategic investment has been agreed with Caterpillar Ventures Capital Inc. on the same terms as their £5.0 million investment in March 2025.
· Additional £2.4 million order from Agrale for zero emission drivetrain kits
· Current live orderbook approximately £10.7 million
· Cash as at 31 January 2026 increased to £0.8 million
Ian Foley, CEO of Equipmake, commented:
“Following the decisive restructuring and refocusing in the prior financial year, the first half of FY26 marked a turning point for Equipmake. With Caterpillar’s continued support, a strengthened balance sheet and growing commercial traction, we are now executing against a clear strategy focused on scalable, higher-margin opportunities. Demand for our technology is increasing across our sectors of focus, and we are converting that interest into tangible programmes and long-term partnerships. Our priority is disciplined growth – delivering innovative electrification solutions while building a sustainable, profitable business for shareholders.”
