Vesuvius Plc - Trading Statement
PR Newswire
LONDON, United Kingdom, July 24
24 July 2025
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
TRADING UPDATE
Vesuvius plc, a global leader in molten metal flow engineering and technology, releases the following trading update in relation to H1 2025 and the trading outlook for the remainder of the year.
TRADING AND OUTLOOK
We have seen a continuation of the challenging market conditions we noted in our AGM Trading Update in May, with the wider uncertain macroeconomic environment and subdued global industrial activity persisting, leading to a continuing weakness in our end markets.
Against this backdrop, our Trading profit for H1 2025 is anticipated to be approximately £77 million, consistent with our expectations and reflecting both short-term cost reduction actions and the strong progress of our structural cost reduction programme.
We are now planning to exceed the objective of £45m of recurring cash cost savings we had set for 2028.
Contrary to our previous expectations, we now anticipate that these challenging market conditions will persist for the balance of the year. Consequently, the pricing environment remains difficult, in particular in Europe and China, limiting for the time being our ability to fully recover labour cost inflation. We however anticipate progressively improving our pricing performance over the second half of the year to partially recover those costs, albeit with a delayed effect.
As a result, we now expect our performance in the second half of the year to be similar to the first half with further progress postponed until 2026.
HALF YEAR RESULTS
Vesuvius will announce its 2025 half year results at 7.00am on Wednesday 6 August 2025.
- ENDS-
CONFERENCE CALL
Patrick André (Chief Executive) and Mark Collis (Chief Financial Officer) will be hosting a conference call with Q&A for analysts and investors at 08:00 (UK time) today.
To participate, please register at least 30 minutes prior to the start of the call by following the link here.
A replay of the call will be available for one week, which can be accessed via the same link above.
For further information, please contact: |
| |
Vesuvius plc | Patrick André, Chief Executive | +44 (0) 207 822 0000 |
| Mark Collis, Chief Financial Officer Rachel Stevens, Group Head of Investor Relations | +44 (0) 207 822 0000 |
MHP | Rachel Farrington/Ollie Hoare | +44 (0) 7801 894 577 |
The person responsible for arranging the release of this announcement on behalf of Vesuvius is Mark Collis, Chief Financial Officer.
About Vesuvius plc
Vesuvius is a global leader in molten metal flow engineering and technology principally serving process industries operating in challenging high-temperature conditions.
We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to make their manufacturing processes safer, more efficient and more sustainable. These include flow control solutions, advanced refractories and other consumable products and increasingly, related technical services including data capture.
We have a worldwide presence. We serve our customers through a network of cost-efficient manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.
Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.
Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where they are recognised, developed and properly rewarded.
We think beyond today to create solutions that will shape the future.
Forward looking statements
This announcement contains certain forward looking statements which may include reference to one or more of the following: the Group's financial condition, results of operations, cash flows, dividends, financing plans, business strategies, operating efficiencies or synergies, budgets, capital and other expenditures, competitive positions, growth opportunities for existing products, plans and objectives of management and other matters. Forward-looking statements can be identified by the use of terms such as 'intend', 'aim', 'project', 'anticipate', 'estimate', 'plan', 'believe', 'expect', 'forecasts', 'may', 'targets', 'could', 'should', 'will', 'continue' or similar words.
Such forward looking statements, including, without limitation, those relating to the future business prospects, revenue, working capital, liquidity, capital needs, interest costs and income, in each case relating to Vesuvius, wherever they occur in this announcement, are necessarily based on assumptions reflecting the views of Vesuvius. Although Vesuvius makes such statements based on assumptions that it believes to be reasonable, by their nature, these forward looking statements are subject to a number of known and unknown risks, uncertainties and other factors beyond Vesuvius' control that could cause actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements. Such forward looking statements should, therefore, be considered in light of various important factors that could cause actual results to differ materially from estimates or projections contained in the forward looking statements. These include without limitation: economic and business cycles; the terms and conditions of Vesuvius' financing arrangements; foreign currency rate fluctuations; competition in Vesuvius' principal markets; acquisitions or disposals of businesses or assets; and trends in Vesuvius' principal industries.
The foregoing list of important factors is not exhaustive. When considering forward looking statements, careful consideration should be given to the foregoing factors and other uncertainties and events, as well as factors described in documents the Company files with the UK regulator from time to time including its annual reports and accounts. In light of these risks, uncertainties and assumptions, the forward looking events discussed in this announcement might not occur and such forward looking statements are not guarantees or predictions of Vesuvius' future performance. You should not place undue reliance on such forward looking statements which speak only as of the date on which they are made. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.
Neither Vesuvius nor any of its affiliates, associates, employees, directors, officers or advisers assumes any responsibility for the accuracy or completeness or undertakes any obligation, to update or revise any of these forward-looking statements to reflect any new information or any changes in events, conditions or circumstances on which any such forward-looking statement is based save in respect of any requirement under applicable law or regulation.
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766
LEI: 213800ORZ521W585SY02
www.vesuvius.com
