All figures are £m excluding dil
Revenue 66.0
Adjusted EBITDA** 6.6
Operating loss (12.1)
Adjusted operating loss** (7.2)
Reported loss after tax (15.1)
Diluted EPS (1.57p)
Adjusted diluted EPS** (1.05p)
Cash generated from operations (2.6)
Adjusted cash from operations** 1.8
Capital Investment (PP&E) 5.0
Net funds / (debt)*** (17.0)
Wireless revenue was £38.8m (H1 2023: £22.4m) up 73% y-o-y
Photonics revenue was £26.8m (H1 2023: £28.0m) down 4% y-o-y.
CMOS++ revenue was £0.5m (H1 2023: £1.6m) down 70% y-o-y.
MicroLED. Reporting on this segment will cease from 2025.
Reported operating loss was £(12.1)m (H1 2023: £(19.6)m loss).
Adjusted cash inflow from operations of £1.8m (H1 2023: £4.3m).
Total net cash capex and cash investment in intangibles of £6.5m (H1 2023: £8.4m)
Adjusted net debt of £(17.0)m as at 30 June 2024 (net debt of £(2.2)m as at 31 Dec 20
as at 30 June 2023).
Cost control actions were:
Reduced labour costs by c.10% year-on-year while ensuring balance of operational
retention.
Reduced non-labour costs by c.5% year-on-year.
Sale of decommissioned Pennsylvania site expected to complete in H2 2024.
Current trading and outlook
Signs of recovery in the global semiconductor industry continue.
