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Zotefoams’ FY25 results were a record with sales up 7% to £158.5m and pretax profit +39% to £21.2m, driven by strong demand for advanced foams used in footwear. EPS were 36.8p, ahead of the 31.6p consensus, though it was helped by a £2.6m tax credit. As I noted in my March write-up, CEO Ronan Cox is pivoting to reduce the company’s reliance on f... ...
Zotefoams has acquired OKC, a Spanish producer of chemical-based polyolefin foams across European industrial end-markets, notably in protective components, acoustic insulation and specialty packaging. OKC had sales of €30.1m and EBITDA of €5.3m (17.6% margin) and Zotefoams is paying up to €36m cash, equating to an EV/EBITDA multiple of c.7x. I... ...
Change is in the air for ZTF. Since taking the helm, CEO Ronan Cox has been reshaping the strategy - steering away from commoditised foams and doubling down on higher-value engineered solutions, innovation, and deeper partnerships with global names like Nike. Latest half year results were record-breaking: sales climbed 9% to £77.4m, pretax profi... ...
Zotefoams has reported its H1 results, which look remarkably resilient in the face of the downturn seen in European industrial markets, with sales up 11% to £64m and pretax profit up 30% to a record £7.4m. The reason for the resilience came from the HPP (high performance polymers) side, where the company’s biggest customer is NIKE, to which it i... ...
Back in 2021, Zotefoams’ profits had been hit by a combination of high energy, freight and commodity prices, crimping its gross margins from 33.6% to 26.4%. But chief executive David Stirling points out how price increases during FY22 saw gross margin bounce back to 30.4%. Sales improved by 26% to £127m and pretax profit ballooned by 74% to £... ...
In ‘normal’ times, if Zotefoams said it had reported sales up 22% to £100.8m and a rising proportion of sales were higher margin products, you would have seen operating margins head into orbit. But these are far from normal times with the business seeing cost price inflation for energy, freight and polymers, which caused gross margin to decline... ...
Latest H1 shows sales + 39% to £48.2m, with strong demand across most regions and markets. At constant currency, revenue was up 46% to £50.7m. H1 adjusted EBITA was £4.8m.The key question I had for chief executive David Stirling and finance director Gary McGrath was whether H2 is going to be able to match the record H2 last yea... ...
Back in September when I reported on H2 results, I had said that whilst “general market conditions are blurry, management tell me that H2 is going to set an all time record for revenues due to supplying into the recently won PPE contract, stronger footwear sales (high end trainers for Nike) and also stronger T-FIT technical insulation for... ...
I had an interesting call with Zotefoams after they issued results for the six months to 30 June. Sales were down 18% to £34.6m mostly due to a 23% drop in the low margin volume business of polyolefin foams, which are used in industrial protection, automotive, aviation and marine as distributors destocked and ran down inventory to generate... ...
The shares have surged ahead since I made them a main buy in the May issue. Not only has the market breathed a sigh of relief that there has been no discounted placing but the company has said it maintained operational continuity throughout April and May, despite challenging conditions. Demand was obviously challenging in April and May but Zotef... ...