Cobham Regulatory News (COB)

14 November 2018

Legal Entity Identifier: 213800A41R9NL49E5632

Trading Update

Cobham plc ('Cobham' or 'the Group') today issues a trading update covering the period 1 January 2018 to the end of October 2018.

The Group's performance in the first ten months of the year has been as expected. Cobham continues to make progress in executing its turnaround programme. At a Sector level, underlying operating profit* in Mission Systems and Communications and Connectivity has been stronger than in the prior year, which offsets weaker performances in Advanced Electronic Solutions and Aviation Services.

Overall, the Board's expectations for the full year 2018 remain unchanged from those set out in the Interim Results on 3 August 2018. As in prior years, there remains significant trading activity in the final two months of the year.

On the KC-46 progamme, Cobham had delivered a total of 18 production standard Centerline Drogue Systems by the end of October. Qualification of the Wing Aerial Refuelling Pods remains in its early stages with risks relating to schedule and cost. Discussions with Boeing have continued regarding its unquantified damages assertions and payment withhold.

Cobham is holding a Capital Markets Day in London on the morning of 28 November 2018, focusing on the Mission Systems Sector.

The Group's preliminary results for the year ended 31 December 2018 will be announced on 7 March 2019.

* organic at constant currency

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Enquiries:

Notes:

1. This document contains 'forward-looking statements' with respect to the financial condition, results of operations and business of Cobham and to certain of Cobham's plans and objectives with respect to these items.

Forward-looking statements are sometimes but not always identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans', 'targets', 'goal', or 'estimates'. By their very nature forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may or will occur in the future.

There are various factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, changes in the economies, political situations and markets in which the Group operates; changes in government priorities due to programme reviews or revisions to strategic objectives; changes in the regulatory or competition frameworks in which the Group operates; the impact of legal or other proceedings against or which affect the Group; changes to or delays in programmes in which the Group is involved; the completion of acquisitions and divestitures and changes in commodity prices, inflation or exchange rates.

All written or verbal forward-looking statements, made in this document or made subsequently, which are attributable to Cobham or any other member of the Group or persons acting on their behalf, are expressly qualified in their entirety by the factors referred to above. Cobham does not intend to update these forward-looking statements.

2. Cobham is a leading global technology and services innovator, respected for providing solutions to the most challenging problems, from deep space to the depths of the ocean. We employ around 10,000 people primarily in the USA; UK and Europe and Australia. We have customers and partners in over 100 countries, with market leading positions in: wireless, audio, video and data communications, including satellite communications; defence electronics; air-to-air refuelling; aviation services; life support and mission equipment.