Strategy and progress
Under the leadership of our CEO, Damien Caby, we refined our strategy to focus on three key areas: Transform, Drive, and Maximise. This strategy is designed to help us achieve a 12% adjusted operating margin by 2028 and deliver long-term sustainable performance.
Key milestones during the year included:
- Delivering £24 million in cumulative savings through our simplification programme
- Successfully piloting our new global ERP system
- Beginning a formal strategic review of our Thermal Products division
- Completing the sale of Molten Metal Systems (MMS) for £76.2 million in November 2025
Our sustainability progress
We continued to make progress against our environmental and social goals.
- Reduced Scope 1 and 2 emissions, which are now 58% lower than our 2015 baseline
- Reached our SBTi target of 80% renewable and nuclear electricity
- Reduced total water withdrawal by 11% compared tho the prior year
- Increased female leadership representation to 36%
We also advanced our climate reporting and risk management in line with TCFD requirements, including scenario modelling and a shadow internal carbon price.