UK's Spirax Group H1 revenue rises on electric thermal solutions growth
UK's Spirax Group H1 revenue rises on electric thermal solutions growth
Overview
UK thermal energy and fluid tech provider's H1 revenue grew 5% yr/yr
Adjusted operating profit for H1 rose 6%, organically, yr/yr, with adjusted operating profit margin up to 19.8%
Company reiterates full-year guidance for mid-single-digit organic revenue growth and margin progress
Outlook
Spirax Group maintains full-year guidance for mid-single-digit organic revenue growth
Company expects full-year adjusted operating profit margin to rise above 2025's 20.0% on organic basis
Company anticipates adjusted operating profit and EPS growth ahead of organic revenue growth
Result Drivers
ETS AND WMFTS GROWTH - Strong sales and margin gains in Electric Thermal Solutions and Watson-Marlow Fluid Technology Solutions, driven by demand growth, operating leverage, and favourable product mix
END MARKET DEMAND - Continued momentum in Semicon and Biopharm end markets supported order intake and sales growth
Company press release: ID:nRSK0289Qa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue | Beat | GBP 863.80 mln | GBP 855 mln (1 Analyst) |
H1 Adjusted Operating Profit | Slight Beat* | GBP 171.10 mln | GBP 170 mln (1 Analyst) |
H1 Adjusted Operating Margin |
| 19.80% |
|
H1 Dividend |
| GBP 0.50 |
|
H1 Pretax Profit |
| GBP 135.40 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Spirax Group PLC is GBp8,100.00, about 5.9% above its August 10 closing price of GBp7,650.00
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago
Reuters Recommended Reads
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Aug 11 - Netherlands' TKH Group Q2 revenue rises on electrification growth
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)