# Zotefoams plc Strong portfolio of products delivers another record year

- Link: https://www.directorstalkinterviews.com/zotefoams-plc-strong-portfolio-of-products-delivers-another-record-year/412769883
- Published: 2019-03-19T07:34:03+00:00
- Author: Giles Arbor

**Zotefoams plc** (LON: ZTF), a world leader in cellular material technology, today
announced its unaudited preliminary results for the twelve months ended 31 December
2018.

**Significant financial progress during the year**

· 16% increase in Group revenue (17% constant currency) to a record £81.04m (2017:
£70.15m)

· 23% increase in reported profit before tax and exceptional item to a record £10.81m(
2017: £8.81m)

· 31% increase in reported profit before tax to £9.86m (2017: £7.55m)

· 29% increase in EBITDA before exceptional item to £16.66m (2017: £12.87m)

· 35% increase in EBITDA to £15.71m (2017: £11.61m)

· 16% increase in basic EPS before exceptional item to 18.66p (2017: 16.04p)

· 24% increase in basic EPS to 16.96p (2017: 13.70p)

**Successful strategic execution**

· High-Performance Products now accounts for 27% of Group revenue (2017: 19%) following
a 67% increase in sales mainly from footwear and aviation applications

· Core AZOTE® foams business grew by 8% while MuCell Extrusion refocused for expected
return to growth in 2019

· Kentucky, USA facility commissioned in March 2018, adding approximately 20% to
Group capacity

· Capacity increases on schedule for commissioning in UK and USA during 2019 and
at a new site in Poland during 2020

· Successful bank refinancing and equity raise in May 2018 to support growth plans

> **Commenting on the results, David Stirling, Zotefoams plc Group CEO, said:**
> “We are seeing the benefits of Zotefoams’ strong portfolio of products, backed
> by unique technology, across multiple sectors and geographies. 2018 was another
> record year for Zotefoams and I’m delighted with both the performance and opportunities
> we are creating.
> We have experienced a strong start to the year, consistent with our growth expectations
> across the business as a whole. Investments in recent years in our product portfolio,
> people and productive capacity have positioned Zotefoams for further growth. Whilst
> we appear to be in a generally less favourable macroeconomic environment than 
> in 2018, with volatile foreign exchange rates, the Board remains confident about
> the future prospects for our business and is excited by the opportunities we see
> for continued progress.”

The preliminary results presentation for the year ended 31 December 2018 will be
made available on the investors section of the Company’s website during the day.

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