Essentra plc - 2025 AGM Trading Update

Essentra PLC

("Essentra", the "Group" or the "Company")

AGM Trading Update

Trading in line; FY25 expectations unchanged

Essentra plc, a leading global provider and manufacturer of essential components and solutions, today provides a trading update for the four months ending 3 May 2025 (the "period"), ahead of its Annual General Meeting, which is to be held at 13:00 BST today.

Trading update

The Group traded in line with the Board's expectations during the first four months of 2025. Group revenue declined 1.3%, on a like-for-like¹ and trading day adjusted basis, compared to the same period in 2024. Encouragingly, the Group saw an improvement in order intake throughout the period, led by the EMEA region.

Consistent with the expectations set out in the FY24 results announcement in March 2025, market recovery continues to vary by region. The EMEA region saw mid-single digit volume declines in the period compared to the prior year, with the rate of contraction slowing since H2 2024. The Americas saw a return to low-single digit volume growth in the period, continuing the momentum seen through the second half of 2024. APAC maintained its positive growth trajectory with mid-single digit volume growth in the period, supported by China's export market to the rest of Asia Pacific.

Tariffs

Essentra's global manufacturing and distribution footprint extends to 28 countries worldwide, with 14 manufacturing sites and 26 distribution centres. In all three regions, the significant majority of products that are made in region, are sold in region and as such, the direct impact of tariffs is expected to be limited.

Essentra benefits from its position as a provider of low cost but essential components and as such the Group has started to pass through the incremental costs associated with tariff changes. Additional actions, including the redirection of the flow of manufactured goods from lower tariff jurisdictions, are also being implemented to fully mitigate any direct impact.  

While it is currently too early to determine the indirect impact of tariffs on industrial activity and demand across market sectors in which it operates, the Group is well positioned with established supply chains and operational capacity to navigate the increased uncertainty within global trading conditions. Given the Group's global footprint, management has identified a number of opportunities for gaining market share in the coming months, optimising its competitive position resulting from scale and ability to serve customers in-region.

Outlook

Although mindful of the more uncertain economic backdrop, the Board's FY25 expectations remain unchanged. The business continues to maintain a balanced approach to cost control, whilst also investing appropriately in value-enhancing growth initiatives and assessing bolt-on growth opportunities that will support long-term value creation.

The Board remains confident in the Group's medium-term strategic plans and financial targets, underpinned by the strength of Essentra's business model and supported by a number of ongoing management actions and initiatives across the organisation to drive growth and operational excellence.

_Notes:

_{1.         On a constant currency basis}

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Notes to Editors

About Essentra plc

Essentra plc is a leading global provider of essential components and solutions, focusing on the manufacture and distribution of plastic injection moulded, vinyl dip moulded and metal items.

Headquartered in the United Kingdom, Essentra's global network extends to 28 countries worldwide and includes c.3,000 employees, 14 manufacturing facilities, 26 distribution centres and 37 sales & service centres serving c.64,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics, medical and renewable energy. For further information, please visit www.essentraplc.com

LEI: 5493007MOZNA03BVNE96

Cautionary forward-looking statement

These results contain forward-looking statements based on current expectations and assumptions. Various known and unknown risks, uncertainties and other factors may cause actual results to differ from future results or developments expressed or implied from the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. The Company accepts no obligation to revise or update these forward-looking statements publicly or adjust them to future events or developments, whether as a result of new information, future events or otherwise, except to the extent legally required.