Essentra (ESNT) Trading Update summary

Meeting proceedings and resolutions

• All formal AGM business was conducted, including safety and voting procedures, with resolutions grouped and explained.

• Resolutions 1–13, covering annual report, remuneration, dividend, director elections, auditor appointment, and share allotment, all passed with strong majorities (88–99%).

• Special resolutions 14–17, including disapplication of preemption rights, share buyback authority, and short notice for meetings, also passed with 91–99% support.

Trading and business update

• Group trading for the first four months of the year is in line with expectations, with a 1.3% like-for-like revenue decline.

• Order intake improved during the period, particularly in the EMEA region.

• EMEA saw a mid-single-digit volume decline but with improving trends; Americas returned to low single-digit growth; Asia-Pacific maintained mid-single-digit growth, driven by hardware exports and China's export market.

• The business is effectively managing tariff impacts through local manufacturing, pricing actions, and supply chain adjustments, with most products made and sold within the same region and incremental tariff costs being passed through.

• The outlook remains unchanged, with continued focus on cost control, targeted investment, bolt-on acquisitions, and confidence in medium-term strategic plans and financial targets.

Tariffs and operational response

• Most products are made and sold within the same region, limiting direct tariff impact.

• Incremental tariff costs are being passed through, and goods flow is redirected from lower tariff jurisdictions.

• Management is monitoring indirect tariff impacts and leveraging established supply chains.

• Opportunities identified to gain market share and optimize competitive position due to global footprint.