Industrials

Xaar PLC

  • Market Cap (£m) 86.8
  • Listing LSE

Eight Page Summary

Company Description

Xaar is a specialist electronic devices and systems business based around its piezo electric industrial inkjet printhead technologies and products. Xaar manufactures the printheads for use in applications that include ceramic tile printing, product coding and market, large format graphics, 3D printing and printing on windscreens.

Investment Summary

Xaar's management has done a fine job in recent years of turning the business around. Management's strategy of investing in new products and working more with end users and printer manufacturers is already showing through in growing revenues. The new product roadmap should allow Xaar to address much of the estimated $1bn industrial inkjet market. As new products come through, Xaar regains and wins market share and the benefits of historical investment in capacity and operational gearing are reflected in the profits and cash generation, there is potential for forecast upgrades and, on an EV/Sales basis at least, some rerating.

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Company Management Team

  • John Mills

    Chief Executive Officer

    John joined Xaar in 2019 following 5 years as CEO at Inca Digital. John started his career at Domino Printing Sciences plc as Development Scientist following a Ph.D in Physics, progressing through a number of technical roles to Director of Development, a role he held for over 4 years. Other roles since leaving Domino Printing include CEO at DataLase Ltd, COO at Plastic Logic Ltd.

  • Ian Tichias

    Chief Financial Officer

    Ian joined Xaar in March 2020 with over 15 years’ experience in senior financial roles and a proven track record of delivering business focussed finance operations that drive efficiency and commercial performance beyond finance. Previously, Ian was Group Finance Director and Deputy CFO at Ibstock plc, responsible for the Group’s Clay business. Other past roles include Senior Director, Finance & Global Pricing Lead – Europe, Africa and Middle East for Zoetis and before that, Head of Finance for Pfizer Diversified Businesses (PDB) UK.

Key Dates

Apr 2021
27th
Finals
Actual
Jun 2021
16th
AGM
Actual
Jul 2021
22nd
Q2 TU
Actual
Sep 2021
14th
Interims
Actual
Jan 2022
13th
Q4 TU
Actual
Mar 2022
29th
Finals
Actual
May 2022
25th
AGM
Actual
Jul 2022
14th
Q2 TU
Actual
Sep 2022
20th
Interims
Actual
Jan 2023
12th
Q4 TU
Actual
Mar 2023
28th
Finals
Actual
May 2023
31st
AGM
Actual
Aug 2023
3rd
Q2 TU
Actual
Sep 2023
19th
Interims
Actual
Oct 2023
11th
IE Group Meeting
Actual
Nov 2023
29th
Q3 TU
Actual
Jan 2024
12th
Q4 TU
Actual
Mar 2024
26th
Finals
Actual
May 2024
31st
AGM
Estimate
Aug 2024
3rd
Q2 TU
Estimate
Sep 2024
19th
Interims
Estimate
Nov 2024
29th
Q3 TU
Estimate
Jan 2025
12th
Q4 TU
Estimate