Near record sales drives Xtek manufacturing expansion

Near record first half sales and tailwinds from continuing international instability could lead to the expansion of Xtek’s specialised manufacturing footprint to the US in FY24.

This follows global attention for its ‘AK47 stopping level 3 rifle combat helmet’.

The company told investors that growth had seen the company developing plans for organic expansion of XTclave manufacturing capabilities into the US and elsewhere in FY24.

Xtek’s XTclave composite curing technology installed at its Adelaide factory replaces traditional autoclaving under high temperature and pressure to cure composite armour plate and complex shapes such as combat helmets.

Inside a massive XTclave machine (main picture) armour plates and helmets are cured in a bath of hot liquid silicon held at a pressure of bar 300, or three times atmospheric pressure.

Xtek, which owns more traditional manufacturing operations at its HighCom offshoot in the US, reported profit of $6 million, up from a loss of $6.8 million in the previous corresponding period.

Revenue was up 321 percent to $48.514 million.

Xtek has $35.1 million in orders in hand and has ‘more than $175 million of projects being pursued for delivery’.

During the half the company established new European offices in Poland, with the company pursuing sales in Central and eastern Europe and Scandinavia.

Xtek said the outlook for continued growth of the company ‘will remain strong for the forseeable future’.

The group expects FY23 ue to exceed $82 million.

Further reading:
UKRAINE CREATES PERFECT CONDITIONS TO PROVE XTEK COMPOSITES

Picture: Xtek