Delivering on our strategy

The Group’s strategy focuses on a combination of the six clear strategic priorities addressing six core addressable markets with attractive growth characteristics with the overall aim of delivering sustainable growth and shareholder return. This also fulfils the Group’s core purpose to accelerate our customers’ drive towards net zero emissions, improving road safety and the automation of vehicle applications through leadership and innovation in engineering and technology.

Progress has been made across all our strategic objectives, most notably diversification from the launch of ABD Solutions and growth through the acquisition of Ansible Motion.

Strategic objective

Market-led new product development with a focus on research and innovation.
Achievements

  • LaunchPad Spin released to the market

  • Soft Motorcycle 360 received full Euro NCAP accreditation, with other new products the LaunchPad Spin and Soft Pedestrian on the Euro NCAP candidate target list

  • New range of Soft Targets launched to market
Future outlook

Continued focus on capabilities for ADAS testing requirements as well as a continued effort in developing leading physics based simulation software. Sustainable revenue growth.
Strategic objective

Building a platform for long-term sustainable growth.
Achievements
  • Embedded new ERP system and new business processes in the UK
Future outlook

Foundations to support current and future growth.
Strategic objective

Clear and defined acquisition criteria of value enhancing companies that facilitate the Group’s strategic priorities.
Achievements

  • Integration of Ansible Motion strengthens our simulation market position

  • Pipeline of strategic, value-enhancing targets
Future outlook

Further develop pipeline of potential acquisition targets.

Deliver further value-enhancing acquisitions to support organic growth strategy delivery.
Strategic objective

Diversification into new adjacent markets utilising the Group’s core technology and capability.
Achievements

  • ABD Solutions delivering as per plan and transitioning from development to commercialisation

  • Digital twin developed providing operational environment validation and a platform for accelerated product testing

  • Autonomy partnership has been agreed with Australian based Jevons Robotics
Future outlook

Continued development of core modular technologies required for a market focus on mining and defence.
Strategic objective

Transition towards a greater proportion of software as a source of higher margins and recurring revenues meet the market’s needs as requirements become more complex.
Achievements
  • Increase in software sales of 17% and stabilised recurring revenue at 40%
  • Expanded our customer support offering
Future outlook

Continue to focus on developing solutions which promote recurring revenue and meet the needs of a changing and complex market.
Strategic objective

Increase the Group’s international footprint in customer-led locations to increase customer intimacy, customer support and market intelligence.
Achievements
  • Successfully expanded to all major customer regions
  • Strategic partnerships now supporting the growth in the simulation business
  • ABD Solutions focused on new geographical areas such as Australia
Future outlook

Continue to drive a direct sales channel model and increase customer intimacy.

Our purpose

We accelerate our customers’ drive towards net zero emissions, improving
road safety and the automation of vehicle applications through leadership and innovation in engineering and technology.

Sustainable Growth

Building a broader-based business to drive sustainable growth

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