Industrials

Xaar PLC

  • Market Cap (£m) 92.6
  • Listing LSE

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Company Descriptions

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

    CEO

    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.

  • Paul James

    CFO

    Paul joined Xaar as Interim Chief Financial Officer and Executive Director on 20 November 2024. He has extensive experience in senior financial roles. Paul was Group CFO of Biffa from September 2023 until October 2024 and Group CFO of Genuit Group plc from March 2018 to September 2023. He previously held senior roles with Dixons Carphone plc, Inchcape plc, British American Tobacco plc and Ernst and Young.