Slide 1: TT Electronics Half Year Results 2026
TT ELECTRONICS HALF YEAR RESULTS 2026
Slide 2: HY 2026 in Review
HY 2026 IN REVIEW ERIC LAKIN, CEO
Slide 3: HY 2026 Highlights: Strategic Execution Driving Improved Operating Performance
HY 2026 HIGHLIGHTS: STRATEGIC EXECUTION DRIVING IMPROVED OPERATING PERFORMANCE • Materially improved profitability, margin expansion and stronger commercial momentum, reflecting strategic actions taken during 2025, improved execution, and the delivery of strategic priorities in H1 2026. • Adjusted o
Slide 4: Disciplined Framework Delivering Operational & Financial Progress
DISCIPLINED FRAMEWORK DELIVERING OPERATIONAL & FINANCIAL PROGRESS COST DIVISIONAL REDUCTION REALIGNMENT PROGRAMME SALES PORTFOLIO TRANSFORMATION OPTIMISATION Tangible progress across our strategic priorities in the first half 4
Slide 5: Divisional Realignment
DIVISIONAL REALIGNMENT Aligning the Group around Power, EMS and Components to improve collaboration, accountability and execution. • Successfully implemented the transition to a product-led organisational structure, better aligned to how customers engage with TT • Improved collaboration across our g
Slide 6: Cost Reduction Programme
COST REDUCTION PROGRAMME Simplifying the cost base to create a leaner operating model while maintaining our engineering capability and customer service. • Programme implementation substantially completed • Restructuring costs recognised above the line in the first half, with financial benefits build
Slide 7: Sales Transformation
SALES TRANSFORMATION Strengthening our commercial capability to improve order intake, customer engagement and long-term organic growth. • Continued investment in sales and business development, supported by enhanced CRM capability and pipeline management • Greater commercial discipline driving stron
Slide 8: Portfolio Optimisation
PORTFOLIO OPTIMISATION Actively optimising the Group's portfolio to sharpen strategic focus and enhance long-term shareholder value. • Strategic review of the Components business complete with the Board evaluating a potential divestment following receipt of encouraging indications of interest • Any
Slide 9: Financial Review
FINANCIAL REVIEW IAN ASHTON, CFO
Slide 10: Group Financial Performance
GROUP FINANCIAL PERFORMANCE Change1 • Revenue down 2.7% organically; up c4% excluding £m HY 2026 HY 2025 the Plano closure and the TT Suzhou to TT Kuantan EMS customer transfer Revenue (organic) 228.1 234.5 (2.7)% • Adjusted operating profit up 37.0%, driven by success Adjusted operating profit (org
Slide 11: Revenue Bridge
REVENUE BRIDGE Revenue (2.7)% YoY Strength in Improved A&D but some momentum in £m customer Components driven delays division, pushed to H2 offsetting 240 237.9 Plano closure 234.5 0.1 (3.4) 2.0 228.1 220 (8.5) Revenue reduction 200 primarily from customer site transfer 180 160 140 120 100 HY 2025 F
Slide 12: Adjusted Operating Profit
ADJUSTED OPERATING PROFIT Operating profit +37.0% YoY Improving momentum driving £m increase; Plano closure Benefits of benefit 19 operational 2.9 18.5 actions taken in 2025 in 17 Cleveland 3.3 15 0.5 13.5 13.0 13 (1.2) 11 Near term margin reduction from 9 customer order phasing 7 5 HY 2025 FX Organ
Slide 13: Power – A&D Strength and Order Momentum
POWER – A&D STRENGTH AND ORDER MOMENTUM • Revenue of £97.3m, broadly flat organically, with HY 2026 HY 2025 Change1 £m sustained A&D demand across our European operations 97.3 97.2 0.1% • Certain key customer agreements now finalised, with Revenue associated demand and price phasing into H2 Adjusted
Slide 14: EMS – Margin Recovery Underway
EMS – MARGIN RECOVERY UNDERWAY • Revenue down 8.3%, reflecting the one-off TT Kuantan £m HY 2026 HY 2025 Change1 single customer transfer; up approximately 7% after excluding this. Revenue 94.1 102.6 (8.3)% • Adjusted operating profit up 80.5% to £7.4m, with margin up 390bps to 7.9% Adjusted operati
Slide 15: Components – Improving Momentum
COMPONENTS – IMPROVING MOMENTUM • Revenue up 5.8% to £36.7m, despite Plano closure HY 2026 HY 2025 Change1 £m headwind, with improving momentum division-wide 36.7 34.7 5.8% • Return to profitability, with adjusted operating profit of Revenue £1.0m (HY 2025: £1.9m loss) and margin of 2.7% Adjusted op
Slide 16: Revenue by Sector and Geography
REVENUE BY SECTOR AND GEOGRAPHY SECTOR GEOGRAPHY 0.8% 16.3% 23.1% 22.2% 24.9% 27.0% 16.0% 33.6% 36.1% Healthcare A&D Auto Elec Distribution United Kingdom EU Americas Asia RoW Broad and well-established exposure to macro growth drivers 1 – Totals refer to H1 2026 Revenue. 16
Slide 17: Cash Flow Bridge
CASH FLOW BRIDGE Cash Conversion 42% (108% on LTM basis) • Operating cash inflow of £7.7m, affected by £m planned inventory investment 25 5.5 24.0 • Cash conversion of 42% (HY 2025: 135%), and 108% on a last-12-months basis 20 18.5 • Neutral at the free cash flow level for the half. • Cash generatio
Slide 18: Balance Sheet & Financing
BALANCE SHEET & FINANCING HY 2026 HY 2025 Change1 • Net debt (excl. leases) reduced to £52.0m, down £21.3m £m YoY Net debt (excl. lease liabilities) (52.0) (73.3) (29.1)% • Leverage reduced to 1.1x (HY 2025: 1.9x), with net interest cover of 7.9x Leverage1 1.1x 1.9x (0.8)x • RCF drawn £8m at period-
Slide 19: Disciplined Capital Allocation
DISCIPLINED CAPITAL ALLOCATION ORGANIC BUSINESS FREE CASH FLOW APPLICATION • Revenue growth – stronger commercial CONTINUED SHAREHOLDER PORTFOLIO OPTIMISATION AND M&A execution in growing markets DELEVERAGING RETURNS PIPELINE • Sustained growth in operating profit and OP margin – leveraging fixed co
Slide 20: Looking Ahead
LOOKING AHEAD ERIC LAKIN, CEO
Slide 21: New Customer Wins: Broad Commercial Momentum
NEW CUSTOMER WINS BROAD COMMERCIAL MOMENTUM • Investment in our commercial organisation driving a stronger pipeline SELECT and increasing customer wins CUSTOMER WINS • Material contract awards secured across multiple end markets, including a multi-million-pound lifetime agreement with Rolls-Royce an
Slide 22: Rolls-Royce: A Long-Term Strategic Customer Relationship
ROLLS-ROYCE A LONG-TERM STRATEGIC CUSTOMER RELATIONSHIP Multi-year agreement to supply high-reliability power LONG-TERM electronics solutions for all large civil aircraft engines AGREEMENT throughout their operational lifetime Mission-critical power electronics and precision magnetics MISSION-CRITIC
Slide 23: Eurofighter Typhoon: Long-Term Position on Key Defence Programme
EUROFIGHTER TYPHOON LONG-TERM POSITION ON KEY DEFENCE PROGRAMME Supporting the Typhoon programme for almost 30 years, LONG-TERM providing long-term revenue visibility through production, PROGRAMME upgrade and in-service support Secured further material contract awards during HY 2026, HY 2026 reinfor
Slide 24: Outlook
OUTLOOK Revenue & • Strong order momentum and attractive positions in structurally growing markets support a return to Market sustainable organic growth. Operational • A leaner, more disciplined operating model provides a platform for continued margin expansion Performance and improved profitability
Slide 25: Q&A
Q&A
Slide 26: Appendix
APPENDIX
Slide 27: Financial Guidance for 2026
FINANCIAL GUIDANCE FOR 2026 Interest Adjusting items cash spend § c.£2m reduction vs 2025 due to reduced debt § c.£6m primarily from Plano and Mexicali EMS closure, plus fees related to Cicor approach Tax Pension § Effective rate would be in mid 20s%, but will be c.mid- § Buy-out and wind-up expecte
Slide 28: Summary Income Statement
SUMMARY INCOME STATEMENT £m HY 2026 HY 2025 Revenue 228.1 237.9 Adjusted operating profit 18.5 13.0 Net finance cost (2.7) (4.5) Adjusted profit before taxation 15.8 8.5 Adjusting items (8.8) (16.0) Profit/(loss) before taxation 7.0 (7.5) Taxation (3.5) (0.7) Profit/(loss) after taxation 3.5 (8.2) 2
Slide 29: Income Statement & Cash Flow: Adjusting Items
INCOME STATEMENT & CASH FLOW ADJUSTING ITEMS £m HY 2026 Profit HY 2026 Cash HY 2025 Profit HY 2025 Cash Operating profit / (loss) 9.7 (3.0) Net cash generated from operating activities 8.8 16.4 Adjusted to exclude: Restructuring and other items Mexicali closure costs (1.0) (0.2) - - Plano closure co
Slide 30: Movement in Net Debt
MOVEMENT IN NET DEBT £m HY 2026 HY 2025 Adjusted operating cash flow post-capex 7.7 17.6 Net interest and tax (2.1) (7.8) Lease payments (2.2) (2.0) Restructuring and acquisition costs (3.8) (1.4) Free cash flow (0.4) 6.4 Lease payments 2.2 2.0 Equity issued 0.1 0.2 Other (1.7) - Cashflow impacting
Slide 31: Cautionary Statement
CAUTIONARY STATEMENT For the purposes of the following disclaimers, references to this ‘document’ shall be deemed to include references to the presenters’ speeches, the Q&A session, and any other related verbal or written communications. This document contains forward-looking statements. These have