Business
Victrex plc – Interim Results 2025
Victrex plc – Interim Results 2025.
About this update from Victrex Plc
[{"type":"text","content":"\n\n\n12 May 2025\nVictrex plc - Interim Results 2025\n \nSTRONG FOUNDATIONS - IMPROVEMENT ACTIONS - NAVIGATING UNCERTAINTY\n \nStrong volume growth & FY volume guidance upgraded\nPBT held back by FX, China & mix; strong cash conversion\n \nVictrex plc is an innovative world leader in high performance polymers, delivering sustainable products which enable environmental and societal benefit. This announcement covers interim results (unaudited) for the 6 months ended 31 March 2025.\n \n\n\n\n\n \n\n\nH1 2025\n\n\nH1 2024\n\n\n% change (reported)\n\n\n% change\n(constant currency1)\n\n\n\n\nGroup sales volume\n\n\n2,018 tonnes\n\n\n1,737 tonnes\n\n\n+16%\n\n\nN/A\n\n\n\n\nGroup revenue\n\n\n£145.9m\n\n\n£139.3m\n\n\n+5%\n\n\n+8%\n\n\n\n\nAverage selling price (ASP)\n\n\n£72.3/kg\n\n\n£80.2/kg\n\n\n-10%\n\n\n-7%\n\n\n\n\nGross profit\n\n\n£64.3m\n\n\n£66.8m\n\n\n-4%\n\n\n+3%\n\n\n\n\nGross margin\n\n\n44.1%\n\n\n48.0%\n\n\n-390bps\n\n\nN/A\n\n\n\n\nUnderlying profit before tax (PBT)1\n\n\n£23.2m\n\n\n£28.0m\n\n\n-17%\n\n\nflat\n\n\n\n\nReported PBT\n\n\n£17.2m\n\n\n£3.3m\n\n\n+421%\n\n\nN/A\n\n\n\n\nUnderlying EPS1\n\n\n22.6p\n\n\n27.0p\n\n\n-16%\n\n\nN/A\n\n\n\n\nEPS\n\n\n17.4p\n\n\n3.1p\n\n\n+461%\n\n\nN/A\n\n\n\n\nDividend per share\n\n\n13.42p\n\n\n13.42p\n\n\nflat\n\n\nN/A\n\n\n\n\n \nHighlights:\n \n• Volumes +16%, driven by VARs; first 2,000 tonne half-year since H2 2022\n- H1 2025 Group sales volume 2,018 tonnes; up 16% vs prior year (Q2 up 14% vs Q2 24)\n· VARs +30% & Transport down 2% (Aero +7%, Automotive down 4%)\n· Electronics +17% and Energy & Industrial +15%\n- H1 2025 Group revenue £145.9m, up 5% vs H1 2024 & up 8% in constant FX\n- Medical (implantable & non-implantable) flat at £30.2m; growth in all non-Spine segments\n- ASP £72.3/kg, impacted by sales mix (driven by VAR volumes) & FX\n \n• Underlying PBT flat in constant FX; held back by sales mix & China ramp-up\n- H1 2025 Underlying PBT down 17% at £23.2m (H1 2024: £28.0m), flat in constant currency\n- H1 2025 Reported PBT £17.2m after £6.0m exceptional items (ERP costs & Pro...