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Bodycote (BOY) investor relations material
Bodycote Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading performance and revenue growth
Core revenue grew 9.0% at constant currency, led by Specialist Technologies and strong Aerospace & Defence and Industrial Gas Turbines growth.
Group revenue increased 1.9% at constant currency, with Core business growth offset by plant exits under the Optimise programme.
Specialist Technologies saw organic revenue growth of 16.5%, while Precision Heat Treatment rose 4.8%.
Industrial Markets revenue was flat, with European strength offset by weaker US volumes; Automotive revenue declined due to lower global light vehicle production.
Excluding the Spectrum acquisition, Core revenue grew 8.4% organically.
Strategic initiatives and operational progress
Optimise programme on track, with 21 of 31 Non-Core plants exited and further 3 ceased operations.
Spectrum acquisition integration largely completed, enhancing Aerospace & Defence capabilities.
Operational excellence programme progressing at key plants; sales and marketing changes implemented.
Major investment projects underway, focused on Aerospace & Defence, IGT, and Specialist Technologies.
Ongoing evaluation of additional bolt-on M&A opportunities.
Share buyback and financial outlook
£80m share buyback programme announced, with £6.6m spent on 1.0m shares between March and April 2026.
Full year outlook maintained, expecting Core organic revenue growth and improved operating margins.
Anticipates moderation in Core revenue growth in H2 due to tougher comparators.
Elevated geopolitical and economic uncertainty acknowledged; focus on cost management and agility.
- Aerospace & Defense drives H2 growth; margins down, but 2026 outlook remains positive.BOY
H2 202530 Apr 2026 - Profit and margin gains led by Specialist Technologies and Aerospace & Defence, despite ERP impairment.BOY
H1 20242 Feb 2026 - Specialist Technologies, Aerospace, and Energy drive growth as costs remain stable and outlook is positive.BOY
Trading Update13 Jan 2026 - Margin and cash flow gains in 2024, with specialist tech driving growth and strong outlook.BOY
H2 20241 Dec 2025 - Sequential growth and cost control support H2 profit improvement and strategic progress.BOY
H1 202516 Nov 2025 - New structure targets higher growth, >20% margins, and 46% CO2 cut by 2030, with share buyback.BOY
CMD 202413 Jun 2025
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