Alfa Romeo Formula 1 simulator AB Dynamics booming as revenues hit £65.4m
AB Dynamics, manufacturer of driving robots and simulators used by the Alfa Romeo Formula 1 team, has registered a 6 per cent increase in revenue, going up to £65.4m in the year ending 31 August.
In the second half of the year, the company hit records in terms of order intake and cash generation, with revenue rising 42 per cent year-on-year.
“The group has delivered another year of strong performance, despite the ongoing impacts of Covid-19, particularly in the first half of the year,” AB Dynamics’ chief executive James Routh said.
“The second half delivered record levels of order intake, revenue and cash generation, which provides a strong foundation for continued growth in 2022.”
Following a £16m cash generation, the company has proposed a final divided on 3.2p per share, with total dividends going up to 4.8p per share.
“Our market drivers remain strong. Against that background and based on the recent track record of strong order intake and continued strategic investment, the Board is confident of delivering progress during 2022 and beyond,” Routh added.
Initially listed in 2013 with a £14m market cap, AB Dynamics has grown extensively in the last eight years, reaching a value of £360m.