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Aurrigo International PLC on Monday said it expects revenue for the full-year to come in ‘significantly below’ market expectations, with its outlook hampered by ‘the impact of tariffs and some extended sales cycles.’ The Coventry, England-based transport technology provider anticipates first-half results in line with expectations, estimating revenue of £3.5 million for the six months that ended June 30. This is down 10% from £3.9 million a year earlier. By division, Autonomous revenue rose 41% to £1.1 million from £800,000 as key customer programmes ‘progressed according to delivery plans.’ However, Automotive contracted almost 24%, with revenue falling to £2.4 million from £3.1 million. Aurrigo International said the impact of US tariffs on UK car and original equipment manufacturer production volumes became ‘increasingly evident’ in the second quarter, with volatility and schedule deferrals weakening performance. Shares in the company were 28% lower at 52.26 pence around midday in London. Looking ahead, Aurrigo expects US tariffs to ‘continue to weigh on the Automotive division’, with volumes expected to stabilise later in the year. However, the company noted that it is ‘unlikely’ that shortfalls realised in the first half will be fully offset within the year. For its Autonomous division, Aurrigo said that a mix of extensions to testing programmes, product refinements and, most pertinently, delays to ‘certain tender processes’ has led it to expect delays to the start dates for many programmes, pushing them into next year. Total revenue for the second half is expected to match the first. Aurrigo anticipates full-year revenue ‘significantly below’ market expectations of £12.0 million. In 2024, the company reported revenue of £8.9 million. Earnings before interest, tax, depreciation, and amortisation are set to be ‘materially impacted’, though Aurrigo said cost efficiency measures and £1 million in grant funding will ‘provide some mitigation.’ Company-cited consensus estimates an adjusted Ebitda loss of £1.6 million. Aurrigo was awarded a £1 million grant post period end to advance new autonomous transport innovations. The funding is provided by The Connected and Automated Mobility Pathfinder - Enhancements programme and Innovate UK’s Launchpad programme. Chief Executive David Keene said: ‘I’m pleased with our resilient performance in the first half, which was delivered despite a challenging macroeconomic backdrop. ‘While it is clearly disappointing that the impact of tariffs and some extended sales cycles will impact financial results for H2 2025, we remain confident about the longer-term as interest from international airports continues to grow, as does the recognition of the clear need for autonomous solutions to address efficiency, safety, and labour challenges in ground operations.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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