Senior (SNR) Q4 2025 TU earnings summary

Executive summary

• Full year 2025 results are expected to be comfortably above previous expectations, driven by strong trading, especially in Aerospace.

• Strategic cost reductions in Flexonics operations have been implemented, with related restructuring costs to be treated as adjusting items.

• Trading in January 2026 has started well, indicating continued momentum.

Financial highlights

• Adjusted profit before tax for FY25 is anticipated to exceed prior guidance.

• Net debt (pre-IFRS 16) is expected to be below £80m at year-end FY25, down from £153m in FY24.

• Leverage is projected to fall below 1.0x net debt to EBITDA (pre-IFRS 16), compared to 1.8x at the end of 2024.

Outlook and guidance

• Board anticipates FY25 performance to be comfortably above previous expectations.

• Early 2026 trading has started positively.