Last checked at 9 Jun 2016 07:04
ESSENTRA PLC
("Essentra" or "the Company")
A leading global provider of essential components and solutions
TRADING UPDATE
Essentra plc ("Essentra" or "the Company") today provides the following trading update in respect of the current financial year ending 31 December 2016.
Based on recent developments, the Company believes it is unlikely to achieve the trading levels previously anticipated at the time of the Full Year 2015 results announcement in February 2016. Specifically, conditions in Filter Products have deteriorated owing to a more challenging market backdrop, and certain large projects either not being commercialised or being deferred. In addition, the extensive site integration programme in Health & Personal Care Packaging has resulted in some short-term operational issues in both the US and the UK, which have impacted revenue and operating profit.
In light of these factors, Full Year 2016 revenue is anticipated to be broadly unchanged versus the prior year (FY 2015: £1,098.1m): adjusted operating profit is now expected to be in the range of £155 - 165m (FY 2015: £171.5m), with second half profit stronger than H1 2016 and directionally consistent with H2 2015.
Essentra will issue its Half Year results for the six months ending 30 June 2016 on 29 July 2016.
Enquiries
Essentra plc Joanna Speed, Corporate Affairs Director Tel: +44 (0)1908 359100 | Ogilvy PR London James Stewart Tel: +44 (0)7342 068609 |
Conference call
1. A conference call to discuss today's announcement with investors and analysts will start at 07:30 (UK time), which can be accessed using the following details.
Dial-in number: | +44 (0)20 7365 4163 (UK / international participants) +1 617 847 3007 (US participants) |
Toll-free number: | 0808 234 7616 (UK participants) +1 888 339 2688 (US participants) |
PIN code: | 21699313 |
Subject: | Essentra Financial Update |
A recording of the conference call will be made available on the website later in the day. A replay will additionally be available as follows:
Replay number: | +1 617 801 6888 |
Replay access code: | 89610051 |
Replay available: | For 30 days |
Notes to Editors
Essentra plc is a FTSE 250 company and a leading global provider of essential components and solutions. Essentra focuses on the light manufacture and distribution of high volume, essential components which serve customers in a wide variety of end-markets and geographies.
Component Solutions
The Components business is a global market leading manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal items. Operating units in 29 countries serve a very broad industrial base of customers with a rapid supply of products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics and construction.
The Pipe Protection Technologies business specialises in the manufacture of high performance innovative products from commodity resins to engineering-grade thermoplastics and polymer alloys for use in a range of end-markets. Locations in four countries, combined with a wide distributor network, serve customers around the world.
Essentra Extrusion is a leading custom profile extruder located in the Netherlands which offers a complete design and production service. One of the first companies to extrude plastics in 1956, Essentra is now one of Europe's most advanced suppliers of co-extrusion and tri-extrusion to all branches of industry.
The Security business has access to a wide portfolio of products and services, including printers, software and consumables from leading manufacturers.
Health & Personal Care Packaging
A leading global provider of packaging and authentication solutions to a diversified blue-chip customer base in the pharmaceutical, health & personal care, consumer and specialist packaging sectors. The business focuses on delivering value-adding innovation, quality and service through the provision of a wide range of printed products and solutions, including cartons, tapes, leaflets, foils, labels and authentication solutions.
The Speciality Tapes business has expertise in coating multiple adhesive systems in numerous technologies. With close to 3,000 adhesive products available for same-day shipping, Essentra's products can meet all high performance needs, from foam, magnetic, finger lift and acrylic high bond tapes to hook and loop and non-skid foam.
Filtration Products
Essentra Filter Products is the only global independent cigarette filter supplier. The nine worldwide locations, including a dedicated Technology Centre supported by three regional development facilities, provide a flexible infrastructure strategically positioned to serve the tobacco industry. The business supplies a wide range of value-adding high quality innovative filters, packaging solutions to the roll your own segment and analytical laboratory services for ingredient measurement to the industry.
Essentra Porous Technologies is a leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded and non-woven fibre, polyurethane foam and porous plastics. Representing innovations used in healthcare, consumer and industrial applications, its enabling components are found in a wide range of products from medical diagnostics tests to advanced wound care pads, inkjet printer cartridges, writing instruments, clean room wipes and air fresheners.
Headquartered in the United Kingdom, Essentra's global network extends to 33 countries and includes c. 9,000 employees, 53 principal manufacturing facilities, 64 sales & distribution operations and 5 research & development centres. For further information, please visit www.essentraplc.com.