REG - Senior PLC - Trading Statement

SeniorAnnouncement

24/04/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250424:nRSX9356Fa&default-theme=true

RNS Number : 9356F  Senior PLC  24 April 2025

Senior plc: Q1 2025 Trading Update

Robust start to the year; full year expectations unchanged

Ahead of its Annual General Meeting on Friday 25 April 2025, Senior plc
("Senior" or "the Group"), an international manufacturer of high technology
components and systems, today issues this Trading Update for the three months
ended March 2025 (the "Period").

Key points

 ●    Healthy book to bill of 1.34 in the Period
 ●    Robust trading in the Period, with growth in line with expectations
 ●    Direct impact of announced tariffs limited and manageable
 ●    Aerostructures trading in line with expectations, good progress continues on
      sale process
 ●    Outlook for the year unchanged; Board anticipates good growth for the Group in
      2025, in line with its expectations

Trading Update

Senior has had a strong start to the year, with trading in the Period in line
with expectations.  Group revenue grew by 3% compared to prior year on a
constant currency basis.  Aerospace revenue grew by 4% driven by growth in
civil aerospace.  Flexonics revenue was similar to prior year, with continued
strong performance in downstream oil & gas offsetting the anticipated
lower sales to upstream oil and gas customers.

Impact of tariffs

For Senior, the direct impact of announced tariffs is limited and manageable.
 We remain mindful of the potential broader macroeconomic impact on the
market sectors in which we operate and will continue to monitor the situation
and respond appropriately.

Aerostructures sale

In our results statement on 3 March 2025, we stated that we are committed to a
sale of our Aerostructures business and that good progress was being made,
noting we were at an advanced stage of a sale process with a small number of
parties and negotiations progressing positively.  Since then, we have made
further good progress and detailed discussions with parties are ongoing.  We
remain focused on completing the sale process and maximising value for
shareholders and will update the market in due course.

Outlook

Overall, the outlook for the full year is unchanged; the Board anticipates
good growth for the Group in 2025, in line with its expectations.

We continue to expect Flexonics performance for the full year to be broadly
similar to 2024.  Good growth is anticipated in Aerospace in 2025, driven by
increasing aircraft build rates, operational efficiency benefits and improved
contract pricing, with H2 performance expected to be higher than H1.

For the full year, we remain on track to deliver Aerostructures operating
profit in the range of £9m to £11m, with the large majority of that being
earned in H2.

Further information

 Bindi Foyle            Group Finance Director, Senior plc                                         +44 (0) 1923 714 725
 Gulshen Patel          Director of Investor Relations & Corporate Communications, Senior plc      +44 (0) 1923 714 722
 Richard Webster-Smith  FGS Global                                                                 +44 (0) 7796 708 551

About Senior

Senior is a FTSE 250 international engineering and manufacturing Group with
operations in 12 countries.  It is listed on the main market of the London
Stock Exchange (symbol SNR).  Senior's Purpose is "we help engineer the
transition to a sustainable world for the benefit of all our stakeholders".
Senior designs and manufactures high technology components and systems for the
principal original equipment producers in the worldwide aerospace &
defence, land vehicle and power & energy markets.  Further information on
Senior plc may be found at: www.seniorplc.com

Cautionary Statement

This Trading Update contains certain forward-looking statements.  Such
statements are made by the Directors in good faith based on the information
available to them at the time of their approval of this Update and they should
be treated with caution due to the inherent uncertainties, including both
economic and business risk factors, underlying any such forward-looking
information.

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  TSTKZGZDVFDGKZM