TT Electronics plc (TTG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. I'd like to welcome everyone in the room and on the webcast to the TT Electronics 2025 half-year results presentation. I'm delighted to be here today to present the results as Chief Executive of TT. This follows a permanent appointment decision by the Board of Directors last month, and I'm grateful for the trust placed in me by the Board and for their support. I'm also very happy to introduce you to Richard Webb, our interim CFO, who joined us in May this year. It's been a remarkably busy five months since the 2024 results were announced in April, and we have made significant progress since then. In the first section today, I will cover the headlines for the half, including the key financials and an update on the actions taken to stabilise the business. Then Richard will take us through the results in more detail. In my second section, I will share more of my early impressions of TT's business. I'll also talk about the overall direction of travel and provide more colour on the outlook for the remainder of the current year. We'll then take Q&A. Before I start, however, I wish to recognise and thank all of my colleagues for their hard work, commitment and support during what has been a challenging time with significant change. Overall, TT has made solid progress over the past few months, including significant strides with the business improvement in North America, and we're on track to meet expectations for the full year. Our European region has once again performed well as momentum continues, benefiting from our strong long-term positions on several aerospace and defence programmes. For the Asian region, business operating margins held up through our lean business program in Suzhou, despite being impacted by some order delays for certain customers. With ...