Full Year 2022 Xaar PLC Earnings Call Transcript
Hello, and welcome to Xaar's 2022 full-year results. My name is Joe Mills, CEO of Xaar; and I'm joined by Ian Tichias, our CFO. Today, we will present our full-year results for 2022. They show that we are performing better, and we are stronger and more resilient as a group.
So let me start with a brief overview. We're delighted with the full-year results, especially in the context of the tough macroeconomic environment. Revenues are up by 23%, and we have delivered a full-year adjusted profit of GBP2.8 million. Our printhead business has grown in all markets except China, which has continued to be impacted due to COVID restrictions in place for most of the year. We are also pleased the EPS, Megnajet, and FFEI delivered ahead of expectations, offsetting the decline in China and demonstrating the increased resilience and strength of the Xaar group.
Aquinox was launched on time and on budget to a very enthusiastic market response; and we strongly believe that in time, this product will be transformational for Xaar and the digital print industry. Phase 1 of the
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