The Nexteq PLC Board proposed a dividend for the year ended 31 December 2024 of 3.7p per share (2023: 3.3p per share). This dividend will be payable on 30 May 2025 to all Shareholders on the register on 2 May 2025. The corresponding ex-dividend date is 1 May 2025.
Other Financial Highlights Include
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Destocking process from record volume years in 2022 and 2023 continued, leading to Group revenues down 24%.
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Quixant revenues down 21%, with Gaming Hardware Platform volumes reducing in the year, but critically with no loss of customers.
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Densitron revenues down 29%, with softer demand across all industrial sectors.
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Gross margin reduced by 40bps to 35.9%. Whilst remaining strong, this was significantly impacted by charges to reduce the carrying value of Aruze stock of $2.7m.
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Adjusted profit before tax reduced 67% to $4.8m (2023: $14.7m), a margin of 5.5% (2023: 12.9%).
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Reported profit before tax reduced 87% to $1.7m (2023: $12.9m) a margin of 2.0% (2023: 11.3%) following a goodwill impairment of $2.9m, provisions taken against Aruze stock of $2.7m and restructuring costs of $0.7m.
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Net cash increased 4% to a record $29.1m, reflecting improved cash generation from trading and positive working capital movement as overall stock levels reduced, alongside returning $6.9m to shareholders through the share buyback programme and $2.8m in dividends paid in the period.
