REG - Rotork PLC - Trading Update

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RNS Number : 1517H  Rotork PLC  02 May 2025

 

 

2 May 2025

Rotork plc Trading update

Good order intake in Q1; continue to expect a year of progress

Rotork plc ("Rotork"), the global provider of mission-critical intelligent
flow control solutions, issues the following trading update for the first
quarter period from 1 January to 31 March 2025 ahead of its Annual General
Meeting to be held later today.

Trading update

Order intake was up mid-single digit year-on-year (on an OCC(1) basis). All
divisions achieved higher orders year-on-year (OCC) with Water & Power
delivering the highest growth. Orders from the LNG liquefaction sector were
strongly ahead year-on-year.

In line with expectations, revenues were modestly lower year-on-year (OCC) in
the period, reflecting order book phasing and a strong comparator.

We made excellent progress on our Growth+ strategy initiatives. Business
transformation continued with new processes successfully rolled out to two
assembly facilities in the Europe, Middle East and Africa region.

The period saw a good cash performance and the £44m acquisition of Noah
Actuation which was completed on 12 March 2025. Net cash at 31 March 2025 was
£91.2m (December 2024: £125.3m).

Post period end

The £50m share buyback programme announced with full year results commenced
on 7 April 2025.

Tariffs

Our three North American facilities, which together represent around a fifth
of Group sales, are located in the US and have the capacity to supply the
majority of local demand. Additionally, to cover incremental costs arising
from higher tariffs, a surcharge increase has been implemented.

Outlook

Since we reported our 2024 results there has been no significant change in
order trends or customer behaviour and April has been in line with our
expectations. Whilst we are mindful of ongoing macro uncertainty, we continue
to expect 2025 to be a year of progress on an OCC basis(2) supported by our
order book and positive end markets.

Rotork will publish half year results on Tuesday 5 August 2025.

 

 

Enquiries:

Rotork
plc
Tel: +44 (0)1225 733 200

Kiet Huynh, Chief Executive Officer Ben Peacock, Chief Financial Officer

Andrew Carter, Investor Relations Director

 

 

FTI
Consulting
Tel: + 44 (0)20 3727 1340

Nick Hasell / Susanne Yule

Legal Entity Identifier: 213800AH5RZIHGWRJ718

 

 

¹OCC is organic constant currency results. The calculation of OCC performance
translates the prior period results at the reporting period's average exchange
rates. Acquired businesses are not included until owned for more than one year
and are then included on an equal perimeter basis, disposed businesses are
excluded entirely.

(2)Based on exchange rates from 1 January to 31 March 2025 and assuming 31
March 2025 rates are unchanged for the rest of the year, the year-on-year
currency headwind to 2025 sales is estimated at 2-3% (up from 1-2% as
estimated at the time of final results). Visit
https://www.rotork.com/en/investors (https://www.rotork.com/en/investors) for
the detailed company compiled consensus.

 

 

About Rotork

Rotork is a market-leading global provider of mission-critical intelligent
flow control solutions for oil & gas, water and wastewater, power,
chemical process and industrial applications. We help customers around the
world to improve efficiency, reduce emissions, minimise their environmental
impact and assure safety. Rotork employs about 3,500 people, has assembly
facilities in 17 locations and serves 170 countries through a global service
network. Its shares are listed on the main market of the London Stock Exchange
(symbol: ROR) and are a constituent of the FTSE 250 index. For more
information please visit www.rotork.com (http://www.rotork.com/) .

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