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Highlights

  • In FY24, AB Dynamics’ revenue grew by 10.4% YoY to GBP 111.3 million
  • Adjusted EBITDA increased by 18.0% YoY to GBP 24.2 million, with margins improving to 21.7%
  • AB Dynamics expects GBP 58 million in revenue for H1 FY25, up 11% YoY
  • The board remains confident in achieving 10% annual organic revenue growth and improving profit margins toward 20%

AB Dynamics PLC (LSE:ABDP) designs, manufactures, and supplies advanced testing, simulation, and measurement systems for the global transport industry. Its products are mainly used in road vehicle development, with a focus on active safety and autonomous technologies. The company also supports vehicle automation in sectors such as mining and defence.

AB Dynamics reported a decent financial performance for financial year 2024 (FY24), with revenue reaching GBP 111.3 million, representing a 10.4% increase from GBP 100.8 million in the prior year. Growth was driven by YoY increases across all core segments, including Driving Robots up 16% YoY, ADAS platforms up 11% YoY, and Testing Services up 29% YoY.

Adjusted EBITDA rose by 18.0% YoY to GBP 24.2 million, with the adjusted EBITDA margin improving by 130 basis points to 21.7%. This margin improvement was supported by better utilisation of U.S. testing operations, consistent gross margins of 59.6%, and improved operating efficiency across key business units.

Recent Business Update

On 25 March 2025, AB Dynamics issued a half-year trading update, announcing expected revenue of GBP 58 million for the first six months of FY25—an 11% YoY increase. On the same date, the group also confirmed that it would release its interim results for the six months ended 28 February 2025 on 23 April 2025.

Company Outlook

Despite ongoing macroeconomic uncertainties, the company’s board remains confident in AB Dynamics’ ability to deliver continued financial and strategic progress, underpinned by a decent first-half FY25 performance and a robust order book pipeline.

The group continues to benefit from powerful regulatory and structural trends in active safety, autonomous systems, and vehicle automation—markets in which it holds a leading position. Reflecting this positive outlook, the board has reaffirmed its target of achieving 10% annual organic revenue growth and expanding adjusted operating profit margins toward 20% while also raising its expectations for FY25 adjusted operating profit.

Top 10 Shareholders

The top 10 shareholders of ABDP together hold approximately 59.53% of the total shares. The largest shareholder is The Best (Anthony), with around 23.88%. Octopus Investments Limited follows with a shareholding of about 11.10%, as shown in the chart below.

Stock Information

The stock has witnessed a fall of ~13.40% in the last three months and over the last six months, it has decreased by ~15.66%. The stock has a 52-week low and 52-week high of GBX 1,480.00 & 2,250.00, respectively, and is currently trading below the average of the 52-week high-low. As of 16 April 2025, the stock’s closing price is GBX 1,615.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 16 April 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.