Keronite reports record financial results for 2018
15th February 2019 – Haverhill, UK – Keronite today announced full-year results for 2018, revealing a record year for revenue and profitability. For the first time revenues exceeded £4m, continuing the trend of year on year revenue growth since 2013. Keronite’s EBITDA also increased to 14% again continuing the trend of year on year improvement.
Matt Hamblin, CEO of Keronite, explains:
I am delighted with our financial performance in 2018; it has capped off an exceptional year for us. We’ve seen several projects mature into volume production in 2018 at both our US and UK facilities. We’ve also seen a significant increase in development projects from blue chip OEM’s seeking material science solutions to enable the use of light metals to support both weight reduction and product life extension.
Keronite has significantly grown its manufacturing base in the United States and the United Kingdom in 2018, having self-funded £1m of investment into dedicated production lines in the US and a new technology centre in the UK.
We’re ready for another strong year of growth in 2019. Volume production in the US facility will continue to grow and mature this year where we are working with several Aerospace customers to industrialise our PEO solutions on their volume platforms. We are also particularly excited about several development projects in the automotive sector converting into long-term agreements next year where volume production will commence in 2020.
2018 company highlights
- Senior leadership appointments and a renewed organisational focus on quality: John Tilbrook was appointed as chief operations officer in October 2018 to oversee Keronite’s volume production operations. Under John’s leadership, Keronite has renewed its focus on customer satisfaction, quality and operating efficiency.
- Agreement for a new Technology Centre: Keronite’s plans to open the world’s first plasma electrolytic oxidation technology centre in Q1 2019. The new facility will house a full range of in house testing capability to support the increasing demands of our customers.
- New website and digital marketing launch: Keronite’s digital partners Forge launched the latest version of Keronite.com in June 2018, underlining the company’s repositioning as a leading materials science company. The website and digital marketing campaign is a nominated finalist for a Chartered Institute of Marketing Excellence award.
- Technology Scalability: Keronite commenced volume production on 4 new projects in 2018 in sectors such as Aerospace, Automotive and Industrial. Work also commenced on an Innovate UK project in partnership with Alcon investigating the implementation of aluminium brake discs for the electric/hybrid passenger car market.
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Keronite is a materials science company that creates the world’s most advanced surface coatings for light alloys. The company works with leading OEMs in the aerospace, automotive, defence and oil & gas industries.
For more information about the company’s revolutionary surface technology, plasma electrolytic oxidation, read our Surface Technology web page or explore our website.
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