Contents | |
1. Strategic Report | |
Highlights | 4 |
Chairman's Report | 6 |
CEO Report | 10 |
Financial Review | 15 |
Principal Risks & Uncertainties | 18 |
2. Governance | |
Statement of Corporate Governance | 25 |
Board of Directors and Senior Management | 31 |
Directors' Report | 35 |
Directors' Remuneration Report | 38 |
3. Financial Statements | |
Independent Auditor's Report | 41 |
Consolidated Statement of Total Comprehensive Income | 47 |
Consolidated and Company Statement of Financial Position | 48 |
Consolidated and Company Statement of Changes in Equity | 49 |
Consolidated and Company Statement of Cash Flows | 51 |
Notes to the Financial Statements | 52 |
4. Shareholder Information | |
Advisers | 81 |
Notice of General Meeting | 82 |
Notes to Notice of General Meeting | 85 |
Strategic Report Highlights
Our Mission: To revolutionise aerospace composites
manufacturing by enabling our customers to reduce waste/costs whilst meeting increased global demand by creating a lean and scalable supply chain in a more-for-less era, delivering real value for all stakeholders.
Financial Highlights & Group Key Performance Indicators
Revenue | Gross Margin % | |
£12m | 23% | |
Adjusted EBITDA 1 | Cash at Bank | Operating Loss |
£(0.5)m | £2.3m | £(1.3)m |
1 Earnings before interest, tax, depreciation, amortisation and adjusted for share-based payments. The business uses this Alternative Performance Measure to appropriately measure the underlying business performance, as such it excludes costs associated with non-core activity. Share-based payments are added back to make the share-based payment charge clear to stakeholders. Workings are provided on p15 of the 2022 Annual Report and Financial Statements.
4
Our highly efficient nests help reduce waste & save money
The innovative visual inspection system is now in operation in our digital cell at Burnley HQ
Velocity Composites is the leading supplier of advanced composite material kits to the aerospace market
5
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Velocity Composites plc published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 14:40:07 UTC.