Kromek celebrates “significant” year-on-year success
13 May 2025
Developer of radiation and bio-detection technology solutions for advanced imaging and CBRN detection, Kromek Group has claimed “significant” strategic progress in both segments for the 12-month period ended 30 April 2025.
In the advanced imaging segment, its partnership agreement with Siemens Healthineers resulted in the initial payment of $25.0 million out of a total of $37.5 million, with the remaining amount pledged over the next four years, the company reported.
Kromek’s CBRN detection operation reported strong progress after a “subdued start” to the year. Revenues in H2 2025 were more than double those of H1 2025, albeit from a low base, reflecting a strong rebound in activity.
Two key agreements with the UK Government entities for its nuclear security technologies included an MoD contract and selection as a supplier under a four-year UK Government framework contract.
Beyond the UK, Kromek continued to strengthen its global footprint, securing and delivering multiple orders in the second half of FY 2025 from customers in the US and Europe. The group also said it continued to deliver on the two multi-year contracts from UK and US government agencies in its bio-security technology area.
Referencing the partnership with Siemens Healthineers, Kromek predicted 2025 revenue ahead of market expectations, of at least £26 million – equal to 34% year-on-year growth.
Pre-tax profit was also expected to beat market expectations, with group debt at 30 April 2025, standing at £0.5 million – reduced from £12.3 million on 31 October 2024. For 2026, the company anticipated revenue growth for its fifth consecutive year.
