TT Electronics plc (TTG) Q2 2026 Earnings Call

Investor webinar replay

Meeting Overview The meeting was an interim results presentation for 2026, led by the CEO Eric Lakin and newly appointed CFO Ian Ashton. The discussion focused on the company's progress, operational improvements, and strategic priorities for the second half of the year, highlighting significant profitability gains and organizational changes. Key Discussion Points - Introduction of new board members: Ian Ashton (CFO), Phil Swash (Chairman), and Mary Waldner (Senior Independent Director). - Overview of the transition year (2025) and shift to execution in 2026. - Significant improvement in profitability with a 37% increase in adjusted operating profit. - Three main drivers of profit improvement: operational actions in EMS, return to profitability in components, and successful implementation of strategic priorities. - Update on the four strategic priorities: divisional realignment, cost reduction program, sales transformation, and portfolio optimization. - Details on the divisional real...

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[Speaker identities could not be resolved; generic labels used] [00:00] Speaker 1: Good morning everyone and welcome to our interim results presentation [00:03] Speaker 1: for 2026. [00:05] Speaker 1: I'm Eric Lakin, [00:07] Speaker 1: CFO, [00:08] Speaker 1: CEO rather, if you have that right, and I'm joining this morning by Ian Ashton, who joined us as Chief Financial Officer at the end of June. This is Ian's 1st set of results with TT and it is great to have him alongside me today. [00:22] Speaker 1: I would also like to thank Richard Webb who has very effectively served as interim CFO [00:27] Speaker 1: since May last year and I wish him well for the future. [00:32] Speaker 1: Ian's appointment is 1 of a number of changes to the board this year. [00:35] Speaker 1: Phil Swash joined as chairman in May, and I'm pleased to say he's in the room with us today, if any of you wish to meet him afterwards. [00:43] Speaker 1: Also Mary Waldner joined last week as Senior Independent Director and Chair of the Audit Committee. [00:50] Speaker 1: Together, these appointments significantly strengthen our experience as we progress in this next phase of TT's journey. And I'm delighted to serve with them on the board. [01:00] Speaker 1: Today, we'll update you on the progress we've made, the actions we've taken, [01:04] Speaker 1: and our priorities for the 2nd 0.5 and beyond. [01:10] Speaker 1: When we spoke in March, I described [01:13] Speaker 1: 2025 [01:14] Speaker 1: as a year of transition. [01:15] Speaker 1: It was a year in which we faced real operational challenges, [01:19] Speaker 1: took decisive action to address them, and rebuilt the foundations of the business to deliver sustainable, [01:25] Speaker 1: profitable growth. [01:27] Speaker 1: I also said that our focus...