REG - Essentra plc - 2025 AGM Trading Update

EssentraAnnouncement

21/05/2025 07:00

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RNS Number : 4866J  Essentra plc  21 May 2025

Essentra PLC

("Essentra", the "Group" or the "Company")

AGM Trading Update

Trading in line; FY25 expectations unchanged

 

Essentra plc, a leading global provider and manufacturer of essential
components and solutions, today provides a trading update for the four months
ending 3 May 2025 (the "period"), ahead of its Annual General Meeting, which
is to be held at 13:00 BST today.

 

Trading update

The Group traded in line with the Board's expectations during the first four
months of 2025. Group revenue declined 1.3%, on a like-for-like(1) and trading
day adjusted basis, compared to the same period in 2024. Encouragingly, the
Group saw an improvement in order intake throughout the period, led by the
EMEA region.

Consistent with the expectations set out in the FY24 results announcement in
March 2025, market recovery continues to vary by region. The EMEA region saw
mid-single digit volume declines in the period compared to the prior year,
with the rate of contraction slowing since H2 2024. The Americas saw a return
to low-single digit volume growth in the period, continuing the momentum seen
through the second half of 2024. APAC maintained its positive growth
trajectory with mid-single digit volume growth in the period, supported by
China's export market to the rest of Asia Pacific.

 

Tariffs

Essentra's global manufacturing and distribution footprint extends to 28
countries worldwide, with 14 manufacturing sites and 26 distribution centres.
In all three regions, the significant majority of products that are made in
region, are sold in region and as such, the direct impact of tariffs is
expected to be limited.

Essentra benefits from its position as a provider of low cost but essential
components and as such the Group has started to pass through the incremental
costs associated with tariff changes. Additional actions, including the
redirection of the flow of manufactured goods from lower tariff jurisdictions,
are also being implemented to fully mitigate any direct impact.

While it is currently too early to determine the indirect impact of tariffs on
industrial activity and demand across market sectors in which it operates, the
Group is well positioned with established supply chains and operational
capacity to navigate the increased uncertainty within global trading
conditions. Given the Group's global footprint, management has identified a
number of opportunities for gaining market share in the coming months,
optimising its competitive position resulting from scale and ability to serve
customers in-region.

 

Outlook

Although mindful of the more uncertain economic backdrop, the Board's FY25
expectations remain unchanged. The business continues to maintain a balanced
approach to cost control, whilst also investing appropriately in
value-enhancing growth initiatives and assessing bolt-on growth opportunities
that will support long-term value creation.

The Board remains confident in the Group's medium-term strategic plans and
financial targets, underpinned by the strength of Essentra's business model
and supported by a number of ongoing management actions and initiatives across
the organisation to drive growth and operational excellence.

(Notes:)

(1.         On a constant currency basis)

 

Enquiries

 Essentra plc                                 FTI Consulting

 Rowan Baker, Chief Financial Officer         Richard Mountain

 Claire Goodman, Head of Investor Relations   Ariadna Peretz

 Emma Reid, Company Secretary                 FTI_essentra@fticonsulting.com (mailto:FTI_essentra@fticonsulting.com)

 Tel: +44 (0)1908 359100                      Tel: +44 (0)20 3727 1340

 

Notes to Editors

About Essentra plc

Essentra plc is a leading global provider of essential components and
solutions, focusing on the manufacture and distribution of plastic injection
moulded, vinyl dip moulded and metal items.

Headquartered in the United Kingdom, Essentra's global network extends to 28
countries worldwide and includes c.3,000 employees, 14 manufacturing
facilities, 26 distribution centres and 37 sales & service centres serving
c.64,000 customers with a rapid supply of low cost but essential products for
a variety of applications in industries such as equipment manufacturing,
automotive, fabrication, electronics, medical and renewable energy. For
further information, please visit www.essentraplc.com
(http://www.essentraplc.com)

LEI: 5493007MOZNA03BVNE96

Cautionary forward-looking statement

These results contain forward-looking statements based on current expectations
and assumptions. Various known and unknown risks, uncertainties and other
factors may cause actual results to differ from future results or developments
expressed or implied from the forward-looking statements. Each forward-looking
statement speaks only as of the date of this document. The Company accepts no
obligation to revise or update these forward-looking statements publicly or
adjust them to future events or developments, whether as a result of new
information, future events or otherwise, except to the extent legally
required.

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