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29 Apr 2025 07:00
29 April 2025
Elementis plc
First quarter trading update
Profit growth with margin improvement in line with expectations; CMD objectives on track.
Elementis plc ("Elementis" or the "Group"), a global specialty chemicals company, today issues its scheduled trading update for the three months ("the quarter") ended 31 March 2025.
Elementis will publish its interim results for the six months to 30 June 2025 on 31 July 2025.
Business performance
The Group delivered a solid first quarter performance in a weak global demand environment. While constant currency revenue was down c.2% against a strong prior year comparator, adjusted operating profit and margins were both ahead of Q1 last year, driven by the continued progress of our self-help initiatives, including pricing.
Personal Care sales in the quarter were marginally up on a constant currency basis, compared to the prior year period. Cosmetics was broadly flat despite soft demand in Asia and weaker mix. Profitability and margins were higher compared to Q1 last year on a constant currency basis.
Performance Specialties sales were modestly lower on a constant currency basis compared to Q1 last year, principally due to weaker Coatings demand. Profitability and margins were up compared to Q1 last year on a constant currency basis driven by improved Talc performance.
· Coatings sales decreased in the mid-single digit percentage versus the strong prior year period, due to the weaker demand environment for architectural and industrial coatings, particularly in Asia and EMEA.
· Talc sales were marginally ahead of the comparable period last year.
Cash generation in the first quarter was in line with expectations.
Talc strategic review
The Talc strategic review that was announced in August 2024, continues to progress and we will provide a further update as appropriate.
Luc van Ravenstein, CEO of Elementis, said:
"We have delivered a solid performance with growth in profitability and margins in what has been a challenging demand environment. Looking ahead, we are well positioned to manage the potential impacts of the recent US tariffs due to our global multi-site manufacturing footprint. However, the future demand impacts are highly uncertain. To help mitigate this, we are making strong progress with our self-help actions, and are on-track to achieve our target of $12m savings this year, with additional savings opportunities being identified. Whilst we are mindful of the increased economic uncertainty associated with tariffs, our expectations for the full year are unchanged.
We continue to make good progress towards our 2026 goals and are building on our strong foundations to take the business to the next level. I look forward to sharing further details at our interim results."
Enquiries
Investors: Zeeshan Maqbool, Elementis plc Tel: +44 7553 340380
Press: Martin Robinson, Giles Kernick, Teneo Tel: +44 (0) 20 7353 4200
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