Trading Update

EKF Diagnostics Holdings PLC

29 January 2024

 

EKF Diagnostics Holdings plc

("EKF" or the "Company")

Trading Update

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global diagnostics business, provides an unaudited trading update for the year ended 31 December 2023 ("FY 2023").

The Company expects to report full-year revenues and adjusted EBITDA¹ in-line with management expectations, reflecting continued steady growth from the Point-of-Care division and β-HB sales. Cash, net of bank borrowings, as at 31 December 2023, was £4.4m.

Good progress continues to be made in the Life Sciences division's fermentation capacity expansion. Purchase orders for precision fermentation services using the new facility have been received and the Company continues to onboard a number of customers. The Board anticipates that a steady build-up of revenues generated from the new fermentation capacity through 2024, alongside maintained growth across Point-of-Care and β-HB sales.

EKF will announce its FY 2023 results in late March 2024 and provide further insight to expected performance for the current financial year at that time.

¹Earnings before interest, tax, depreciation and amortisation, excluding exceptional items and share based payments.

EKF Diagnostics Holdings plc		www.ekfdiagnostics.com
Julian Baines, Executive Chair / Stephen Young, CFO		Tel: [phone]
Singer Capital Markets (Nominated Adviser & Broker)			Tel: [phone]
Aubrey Powell / Oliver Platts
Walbrook PR Limited	Tel: [phone] or [e-mail]
Paul McManus / Alice Woodings	Mob: [phone]

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com)

EKF is an AIM-listed global diagnostics business focussed on:

·    Point-of-Care analysers in the key areas of Hematology and Diabetes, as well as Central Laboratory products including clinical chemistry reagents, analysers and centrifuges

·    Life Sciences services provide specialist manufacture of enzymes and custom products for use in diagnostic, food and industrial applications, as well as other higher value Contract Manufacturing services

EKF has headquarters in Penarth (near Cardiff) and operates five manufacturing sites across the US and Germany, selling into over 120 countries world-wide.

 

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