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Vesuvius (VSVS) investor relations material
Vesuvius Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading Update summary11 Nov, 2025
Trading environment and market outlook
Steel and foundry markets remain stable at low levels, with medium-term prospects improving due to healthy global steel consumption outside China and potential stabilization or decline in Chinese net steel exports, benefiting non-Chinese markets.
Over 60 countries have imposed restrictions on Chinese steel imports, and new EU measures could boost European steel production by over 10 million tons, raising utilization rates from 65% to 85% by mid-2026.
Foundry markets are stable at low levels, with expectations that lower interest rates could drive demand recovery in 2026.
Medium-term outlook is more positive due to increasing protection measures against unfair steel trade, especially in Europe and the Americas.
Inventories of steel and refractories in Europe are currently low, suggesting that any demand recovery will be amplified by restocking needs.
Financial performance and cost management
Revenue in H2 has been broadly in line with expectations, supported by market share gains in both steel and foundry divisions.
Price increases have been successfully implemented globally (except China), helping offset cost inflation; net price effect for the year remains negative but is improving.
GBP 18 million in recurring cash cost savings will be delivered this year, with a cumulative target of over GBP 55 million by 2028 on track to be exceeded.
Temporary manufacturing issues in the foundry division will impact H2 trading profit by GBP 2–3 million but are expected to be resolved by year-end.
Trading profits for the full year are anticipated to be broadly in line with previous guidance.
Market share and regional dynamics
Market share gains continue in both steel and foundry divisions, with Advanced Refractories regaining lost share in North America and Europe, focusing on profitability over aggressive growth.
Flow Control division is gaining market share globally, except for a slight loss in North America due to plant closures by a major customer.
In India, price discipline is prioritized over market share gains, while competitors may be more aggressive on pricing.
EMEA steel production declined by 2.1%, with EU27+UK down 5% and EEMEA up 2%.
North America was flat overall, with US up 2% but declines in Mexico and Canada; India and Southeast Asia showed strong growth.
Quantify full impact of 85% EU steel utilization
Elaborate on Foundry temporary issues certainty
Compare AR and Flow Control market share strategy
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H2 202512 Mar, 2026
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Frequently asked questions
Vesuvius plc provides engineering services and solutions principally to steel and foundry industries worldwide. It operates in two divisions, Steel and Foundry. The company offers foundry consumables and equipment, including binders, coatings, feeding systems, filtration and gating systems, melt shop refractories, metallurgical and pouring control systems, die dressings and coatings, melt treatment products, crucibles, and ceramics for the iron, steel, and nonferrous foundries. It also provides nonferrous metals, such as primary and secondary aluminum, copper, and other metals and alloys; cement and lime solutions, iron ore pelletizing and calcination products
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