Senior (SNR) H2 2025 earnings summary

Executive summary

• Completed sale of Aerostructures business, focusing on core operations and fluid conveyance and thermal management.

• Achieved strong financial performance in 2025, with both divisions contributing and strategic targets met.

• Balance sheet strengthened, enabling a 25% increase in total dividend to 3 pence per share.

• Trading in early 2026 has started well, with expectations unchanged.

Financial highlights

• Revenue rose to £738.2m, up 6% at constant currency; reported growth 4% due to £10m FX headwind.

• Adjusted Operating Profit up 22% at constant FX to £63.6m; margin expanded 110bps to 8.6%.

• Adjusted Profit before tax increased 24% to £51.2m; Adjusted EPS up 9% to 9.65p.

• Return on Capital Employed up 140bps to 13.1%; cash conversion at 90%, up 400bps.

• Free cash flow increased 37% to £36m; net debt reduced to £117m, down over £110m.

Outlook and guidance

• Board expectations for 2026 remain unchanged; strong start to the year.

• Aerospace expected to benefit from higher civil aircraft build rates and demand across markets.

• Flexonics to maintain robust double-digit margins, including JV, despite softer markets.

• Confident in delivering medium-term financial targets and enhanced shareholder value.