REG - Trifast PLC - Trading Update & Notice of FY25 Annual Results

TrifastAnnouncement

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RNS Number : 7235G  Trifast PLC  30 April 2025

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30 April 2025

 

 

TRIFAST PLC

 

Trading Update & Notice of FY25 Annual Results

 

 

Full year performance in line with profit expectations and on track with our
medium-term

Recover, Rebuild, Resilience strategy

 

 

Trifast plc ('Trifast' or the 'Group', LSE: TRl.L), the international
specialist in the design, engineering, manufacture, and distribution of
high-quality engineered fastenings, today announces an unaudited Trading
Update for the year ended 31 March 2025 ('FY25'), ahead of the publication of
its final results in July 2025.

 

Trading Update

The Group is pleased to report that it delivered a strong performance,
underpinned by continued focus on its strategic self-help initiatives. The
Group expects to report revenues for FY25 of £223.0m, with adjusted EBIT in
line with expectations(1) at approximately £14.8m, which represents an
improving margin of c.6.6%. The Group achieved its targeted cost savings for
FY25 of c.£3.0m, with further initiatives identified which will drive
incremental benefits in FY26 and beyond.

 

The balance sheet has continued to strengthen through disciplined and focused
actions on working capital and cash generation, resulting in a net debt to
EBITDA ratio of circa 1.0x at the year end.

 

Whilst the macroeconomic backdrop is evolving and remains uncertain, we are
confident of delivering further performance improvement through management
actions and remain well positioned for growth within our target sectors. As a
result, we are confident in the fundamentals of our business model and in our
ability to deliver against our medium-term margin and returns targets(2).

 

The recent tariff changes have significantly impacted global market dynamics,
leading to increased volatility, heightened trade tensions, and economic
uncertainty. These changes have particularly affected industries such as
automotive and manufacturing, prompting companies to reassess their
strategies. Our geographic diversification and global manufacturing footprint
ensure that we have a highly resilient platform, well-positioned to support
our customers who may be cautious about making short-term supply decisions. We
have informed our customers that we intend to pass through the incremental
costs resulting from tariff changes and will work closely with them to
navigate these challenges, ensuring the protection of their supply chain and
continuity of supply. We believe that our robust positioning and the critical
role our components play within complex supply chains will enable us to
minimise any adverse impact on shareholder value.

 

Notice of FY25 Annual Results

We expect to announce FY25 Annual Results in July 2025.

 

Iain Percival, CEO of Trifast, said:

"We have delivered the first stage of our Recover, Rebuild, Resilience
transformation through significant organisational change and strategic
self-help actions. The balance sheet is in good shape, margins are steadily
improving, and new business is being won in our targeted high-growth sectors.
We remain ever mindful of the evolving backdrop but are confident that through
our own actions we can deliver increasing profits. This would not have been
possible without the support of our excellent employees to whom I am extremely
grateful."

 

 

Notes:

(1)Consensus forecasts for FY25 prior to this announcement were: revenue of
£234.5m, adjusted EBIT of £14.6m, and adjusted PBT of £10.2m

(2) Medium-term margin and returns targets are EBIT margin (CER) of >10%
and underlying ROCE of >12%

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK

domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"),
and is disclosed in accordance with the Company's obligations under

Article 17 of MAR. Upon the publication of this announcement via the
Regulatory Information Service, this inside information is now considered to

be in the public domain.

 

 

 Enquiries:
 Trifast plc
 Iain Percival, Chief Executive Officer

 Kate Ferguson, Chief Financial Officer

 Christopher Morgan Company Secretary
 Office: +44 (0) 1825 747630
 Email: corporate.enquiries@trifast.com
 (mailto:corporate.enquiries@trifast.com)
 Shareholders: companysecretariat@trifast.com
 (mailto:companysecretariat@trifast.com)

 Peel Hunt LLP (Stockbroker & financial adviser)
 Mike Bell
 Charlotte Sutcliffe

 Tel: +44 (0)20 7418 8900

 

 

 Editors' notes
 About Trifast

In 2023, TR celebrated 50 years of business with a proud heritage of serving
 customers with engineered fastening supply chain solutions. Specialising in
 the design, engineering, manufacture, and distribution of high-quality
 engineered fastenings and Category 'C' components principally for major global
 assembly industries. As an international business we can provide customer
 support from across key regions in the UK & Ireland, Asia, Europe, and
 North America. In addition to our service locations, we operate manufacturing
 facilities focused on high volume cold forged fasteners and special parts. We
 have also established Engineering & innovation centres to support R&D
 and customer collaboration across the world. The Group supplies to customers
 in c.70 countries across a wide range of industries, including Automotive,
 Smart Infrastructure and Medical Equipment. As a full-service provider to
 multinational OEMs and Tier 1 companies spanning several sectors, we deliver
 comprehensive support to our customers across every requirement, from concept
 design through to technical engineering consultancy, manufacturing, supply
 management and global logistics.

 We have defined a clear purpose and vision:

 To sustainably drive our customers' success by simplifying their fastener
 supply chain and supporting them in their technical requirements through our
 world-class engineering and manufacturing capabilities.

 

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