The Weir Group (WEIR) CMD 2025 summary

Strategic vision and growth priorities

• Focus on mining technology leadership, leveraging next-gen digital and hardware solutions to drive productivity, sustainability, and resilience in mining.

• Multi-decade market tailwinds from critical metals demand, global energy transition, and technology adoption underpin growth.

• Transition from a diversified industrial group to a focused mining technology leader, with a resilient, predictable business model.

• Strategy includes organic growth, disciplined M&A, and geographic expansion, aiming for mid to high single-digit growth through the cycle.

• Emphasis on sustainability, resilience, and delivering for people and planet.

Financial guidance and performance targets

• Operating profit margins targeted sustainably above 20% from 2026, with 90-100% free operating cash conversion.

• Group operating margins raised from 17.4% in 2023 to circa 20% in 2025, a year ahead of plan.

• Software Solutions business expected to deliver mid-40%+ margins as scale increases.

• Performance Excellence program delivering £80m cumulative savings, with transition to continuous improvement for enduring benefits.

• Ongoing investment in R&D at 2% of sales, with capital intensity expected to remain low and focus on growing ROCE.

Digital and software strategy

• Building a global leader in equipment-agnostic mining software, with Micromine as a core platform and recent acquisitions expanding the portfolio.

• Software Solutions business growing at 20-30% per annum, with Micromine core at 25%+ and recurring revenue at 87% as of September 2025.

• Integration of digital solutions (NEXT) and transition to subscription models drive predictive maintenance, process optimisation, and new business models.

• Access to Minerals and ESCO customer base accelerates software growth globally.

• Integration of software businesses as a standalone operating company to preserve agility and tech culture.