Xaar plc Reports 2024 Revenue Decline Amid Ceramics Market Weakness

Xaar plc ( (GB:XAR) ) has provided an update.

Xaar plc reported a decline in revenue for 2024 at approximately £62.7 million compared to £70.6 million in the previous year, primarily due to significant weakness in the ceramics market. Despite this, the company expects to report a modest adjusted profit before tax, aligning with expectations, and maintains a robust cash position. The appointment of Paul James as permanent CFO is expected to bring stability to the leadership team. Looking forward, Xaar remains optimistic about growth in printhead revenues, although commercial adoption timing remains uncertain due to broader market factors.

More about Xaar plc

Xaar plc is an innovator in inkjet technology, providing printheads and technologies for OEM and UDI customers globally. Their products serve multiple markets including graphics, labelling, packaging, ceramics, textiles, and advanced manufacturing, with a strong focus on precision and sustainability. Xaar operates from sites in Europe and China, emphasizing collaboration and technical support, and boasts over 30 years of experience with substantial R&D investment.

YTD Price Performance: -2.82%

Average Trading Volume: 66,713

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £57M

Learn more about XAR stock on TipRanks’ Stock Analysis page.