TT Electronics plc (TTG) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.858 -- 00:00:05.665 Good morning everyone and welcome to our full year results presentation for 2025. 00:00:05.665 -- 00:00:11.273 I'm Eric Lakin, CEO and I'm joined today by our interim 00:00:11.273 -- 00:00:16.361 CFO Richard Webb. Very happy to be with you all again for my first full year 00:00:16.361 -- 00:00:20.023 announcement at TT. 2025 00:00:21.789 -- 00:00:26.996 has been a year of transition for TT Electronics It was a year where we faced clear operational 00:00:26.996 -- 00:00:32.061 challenges, but also one in which we took swift action to address them. 00:00:32.061 -- 00:00:36.606 Our focus has been on restoring operational control, strengthening our balance sheet 00:00:36.606 -- 00:00:40.450 and creating a solid platform for future growth. 00:00:40.450 -- 00:00:44.854 While there is a lot of work still to do, I'm pleased that we have delivered a stable 00:00:44.854 -- 00:00:49.959 performance and we enter 2026 with a much stronger operational 00:00:49.959 -- 00:00:52.840 and financial foundation. 00:00:53.170 -- 00:00:57.835 Let's start with a look at the headlines for the year. 00:00:58.200 -- 00:01:02.950 Despite the macro headwinds we faced, we delivered results in line with expectations, 00:01:02.950 -- 00:01:06.898 with momentum notably strengthened in the second half. 00:01:06.898 -- 00:01:12.249 We saw improved operating profit, margins and cash flow, driven by better execution 00:01:12.249 -- 00:01:15.496 and strict cost discipline across the group. 00:01:15.496 -- 00:01:18.699 Notably, our cash generation was very strong. 00:01:18.699 -- 00:01:23.024 We have significantly reduced our net debt and strengthened the balance sheet, which 00:01:23.024 -- 00:01:25.687 Richard will detail shortly. 00:01:25.687 -- 00:01:29.972 We have ...