Business
AGM Update
Chemring Group PLC provided an update ahead of its Annual General Meeting, confirming its FY26 outlook remains in line with expectations, with revenue 85% covered by current revenues and order book of £1,364m as of January 30, 2026, an increase from £1,351m in the prior year. While Q1 order intake was £122m, lower than the prior year's £393m, the company secured a £22.5m STORM Missile Defence Centre order for Roke post-January 2026. Investments in Energetics capacity are ongoing, expected to increase net debt, and a non-cash impairment charge is anticipated due to operational changes at Kilgore Flares. The Norwegian government will provide up to £16m towards a feasibility study for a second military explosives production facility. Disclaimer*
About this update from Chemring Group Plc
FOR IMMEDIATE RELEASE 20 FEBRUARY 2026 CHEMRING GROUP PLC ("Chemring", the "Group" or the "Company") AGM Update Chemring, a key contributor to the defence industrial base, supplying materials, subsystems, components, and technologies into growing areas of defence, security, and space markets, issues the following update ahead of its Annual General Meeting taking place later today. Key points: · FY26 outlook in line with the Board's expectations. · Order book at 30 January 2026 of £1,364m (30 January 2025: £1,351m). · Q1 order intake of £122m (Q1 FY25 £393m). Orders received across both sectors as well as a £22.5m STORM Missile Defence Centre order for Roke received post 30 January 2026. · Expected FY26 revenue 85% covered by Q1 revenues and current order book (30 January 2025: 81%). Outer years cover continuing to build with strong order pipeline. Michael Ord, Group Chief Executive, commented: "Chemring is well positioned to benefit from rising defence spending across NATO and allied nations, evidenced by our record order book and a strong pipeline of opportunities, and we will continue to invest in our business to capture further growth. For FY26 our outlook is unchanged." Current Trading and Outlook The Group's outlook for FY26 remains in line with the Board's expectations with a H2 weighting slightly heavier than the prior year. We have had a slightly slower than anticipated start to the year, primarily due to some operational disruption in countermeasures production, which is now largely resolved. At our US countermeasures facility, Kilgore Flares ("KFL") in Tennessee, the operational performance and efficiency of its fully automated facility continues to steadily ramp. The decision has therefore been taken to retire a number of KFL's legacy operations and to transfer manufacturing to the automated facility, wh...
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