REG - IMI PLC - Trading Update

IMIAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260512:nRSL8526Da&default-theme=true

RNS Number : 8526D  IMI PLC  12 May 2026

12 May 2026

 

Good first quarter performance

On track to deliver a sixth consecutive year of mid-single-digit organic
revenue growth

Full year guidance reconfirmed

 

IMI plc ("IMI"), a global leader in fluid and motion control, issues the
following trading update which covers results for the first quarter from 1
January to 31 March 2026.

 

Roy Twite, Chief Executive, commented:

 

"We have made a good start to the year, delivering organic growth across IMI
in the first quarter. Our performance reflects the strength of the One IMI
operating model and the benefits of our strategic focus on three megatrends -
Energy, Automation and Healthcare - which are creating sustained demand across
our markets and underpinning our long-term growth.

 

We are pleased to be reconfirming our full‑year guidance and remain on track
to deliver our sixth consecutive year of mid‑single-digit organic revenue
growth in 2026.

 

We are actively monitoring the situation in the Middle East, where the safety
of our people remains our top priority. The region represented 6% of IMI's
revenue in 2025, principally within Process Automation.

 

IMI remains well positioned, with a unique market-led approach to innovation,
significant recurring high-margin aftermarket exposure and strong pricing
power. Our strong balance sheet and significant cash generation continue to
support investment, shareholder returns and strategic flexibility."

 

First quarter performance

 

First quarter organic revenue was 5% higher year on year. Statutory revenue in
the quarter was 6% higher than last year, reflecting foreign currency
movements in the period.

 

Automation

 

Automation (65% of 2025 sales) delivered organic revenue growth of 6% in the
quarter.

 

·      Process Automation (44% of 2025 sales) organic revenue was up 6%
in the period. As expected, total orders were down 2% organically
year-on-year, against a strong comparator. Aftermarket orders declined by 1%,
reflecting several large nuclear Aftermarket orders won in the first quarter
of last year as previously highlighted. Whilst the conflict in the Middle East
did lead to some disruption in the region during the first quarter, the effect
on orders and sales was not significant. We continue to see a strong pipeline
of global opportunities, driven by the rapidly increasing demand for energy
from data centres and widespread electrification.

 

·      Industrial Automation (21% of 2025 sales) organic revenue
increased by 6% year on year, benefiting from an easier comparator following
the cyber incident in the first quarter of 2025. Industrial Automation is
expected to be modestly higher organically in 2026.

 

Life Technology

 

Life Technology (35% of 2025 sales) organic revenue increased by 4% in the
first quarter.

 

·      Climate Control (18% of 2025 sales) organic revenue grew by 4%
compared to the same period last year. Demand for energy‑efficient solutions
remained supportive, including continued strength in the data centre direct
liquid cooling market.

 

·      Life Science and Fluid Control (10% of 2025 sales) organic
revenue increased by 1% in the first quarter. Growth in Life Science was
supported by resilient healthcare demand and further signs of stabilisation in
the global life science device market. This was partially offset by the impact
of mixed market conditions in Fluid Control.

 

·      Transport (7% of 2025 sales) organic revenue was 9% higher year
on year, in line with the heavy‑duty truck market. The strategic review of
Transport is progressing; we are delivering significant operational
improvements and continue to assess all strategic options.

 

Exchange rates

 

If exchange rates as at 1 May 2026 of US$1.36 and €1.16 remain constant for
the remainder of the year, it would have no material impact on revenue and
adjusted operating profit in the full year when compared to 2025.

 

Full year guidance reconfirmed

 

Following the good first quarter performance, we are reconfirming our full
year guidance and remain on track to deliver our sixth consecutive year of
mid-single-digit organic revenue growth in 2026. We continue to expect that
full year adjusted basic earnings per share will be between 136p and 142p.

 

Our guidance assumes that conditions allow for planned shipments to the Middle
East to be delivered by the end of the financial year. Whilst we remain alert
to the potential indirect impact of the conflict, we expect to manage any
inflationary pressures through price increases where necessary.

 

Half-year results

 

IMI will present its half-year results for the period ending 30 June 2026 on
31 July 2026.

 

 Enquiries to:

 Edward Hann    IMI         Tel: +44 (0)7977 354 810
 Faeth Birch    FGS Global  Tel: +44 (0)7768 943 171
 James Gray     FGS Global  Tel: +44 (0)7814 379 412
                            IMI-UK@fgsglobal.com (mailto:IMI-UK@fgsglobal.com)

 

A conference call for analysts and investors will be held at 08:00 BST today
to discuss this statement. To access the call, please register using the link:

 

https://www.netroadshow.com/events/login/1PeTHmohVhEQqO7QvJPq5Kz1eqlYHIsGbuaVE
(https://www.netroadshow.com/events/login/1PeTHmohVhEQqO7QvJPq5Kz1eqlYHIsGbuaVE)

 

 

 

 

Notes

 

IMI plc is a global leader in fluid and motion control. Its innovative
solutions, built around valves and actuators, enable vital sectors to become
safer, more productive and more energy efficient. IMI combines world-class
applications engineering expertise with a continued focus on commercial
excellence, market-led innovation and continuous improvement to solve its
customers' most acute engineering problems. IMI employs approximately 10,000
people, has manufacturing facilities in 18 countries and operates a global
service network. IMI is a member of the FTSE 100 and is listed on the London
Stock Exchange. Further information is available at www.imiplc.com
(https://imiplc.sharepoint.com/sites/GroupFinance075/Shared%20Documents/Year%20End/YEAR%20DEC25/Prelim/www.imiplc.com)
.

 

References to adjusted figures reflect figures as reported to management and
do not include the impact of adjusting items. References to organic changes
are on a constant currency basis and exclude disposals and acquisitions.

 

IMI plc is registered in England No. 714275. Its legal entity identifier
('LEI') number is 2138002W9Q21PF751R30.

 

Brand materials can be found here (https://imi-brand.com/d/R4M1Xza3ZLYE) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTAKDBKPBKDDPD



            Copyright 2019 Regulatory News Service, all rights reserved