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7 July 2026
Victrex plc - Q3 trading update
'Momentum continues in Q3: full year guidance maintained'
Victrex plc is an innovative world leader in high performance polymer solutions, focused on the end markets of Automotive, Aerospace, Energy & Industrial, Electronics and Medical. Today's trading update covers the third quarter (Q3) of FY 2026, from 1 April 2026 to 30 June 2026.
Q3 and year-to-date (YTD) performance summary
· | Q3 (3 months ended 30 June 2026) Group revenues grew 18% vs Q3 2025, driven by Group volumes increasing by 17%. Year-on-year performance reflects momentum continuing from Q2 in Sustainable Solutions end markets, supported by some stabilisation in Medical. |
· | At divisional level, Aerospace and Electronics were the main drivers of growth in Sustainable Solutions. Aerospace had a much weaker prior year comparator following industry supply chain backlogs in 2025. |
· | Average selling price (ASP) of £68/kg was in line with the prior year (Q3 2025: £68/kg). |
· | Year to date (YTD) Group revenues increased by 7%, with YTD Group volumes up 10%. |
Quarter ended 30 June (Q3) | Nine months ended 30 June (YTD) | ||||
2026 |
2025 | % change |
2026 2025 % change | ||
Revenue (£m) | 84.5 | 71.5 | +18% | 231.6 217.3 +7% | |
Sales volume (tonnes) | 1,238 | 1,057 | +17% | 3,375 3,075 +10% | |
Good progress with Profit Improvement Plan and Unlocking Victrex's Potential
Since the start of 2026, we have made good progress in taking actions to simplify the business, to refresh our leadership team and decentralise our organisation, enabling us to become closer to our customers. Our headcount reduction of c10% of roles will start to see initial benefits in our final quarter (Q4), with most employees directly affected having left the business during Q3. We remain on track for annualised cost savings of at least £10m, which will be fully realised in FY 2027. As previously communicated, cash exceptional items for FY 2026 are expected to be approximately £10m.
Financial position
Net debt at 30 June 2026 was £43.0m, with cash of £27.5m. This is after payment of the Group's FY 2026 interim dividend (13.42p/share), totalling approximately £12m.
Outlook: full-year guidance maintained
Dr James Routh, Chief Executive Officer of Victrex, said:
"Q3 maintained the positive momentum we saw through our second quarter. Compared to the prior year, revenue growth was driven by improvement across several end markets, particularly Aerospace and Electronics, with some stabilisation in Medical.
In our final quarter (Q4), whilst we will start to see initial cost savings as part of our Profit Improvement Plan, we remain mindful of normal seasonality and wider macroeconomic conditions including the potential implications for global demand and energy costs. Our full year guidance is therefore unchanged and as previously communicated, the Board expects FY 2026 underlying PBT to be in the range of £42m-£44m.
Our growth opportunities remain strong across a broad range of end markets and geographies. With a clear and differentiated value proposition, unmatched expertise in PEEK and world class applications know-how, we are focused on driving significant improvement in profitability over the medium term."
Capital Markets Event 2026: Unlocking Victrex's Potential
The Group will host its 2026 Capital Markets Event 'Unlocking Victrex's Potential' at Investec, 30 Gresham Street, London, EC2V 7QP, UK, on Thursday 24th September starting at 15.00 UK time, followed by an informal reception at 18.00.
This event will focus on:
· Progress in our Profit Improvement Plan
· The addressable market and delivering new application opportunities for VictrexTM PEEK
· Our revised operating model and refreshed leadership team
· Our roadmap to significant improvement in profitability over the medium term
Victrex plc:
| |
Andrew Hanson, Director of Investor Relations, Corporate Communications & ESG | +44 (0) 7809 595831 |
Ian Melling, Chief Financial Officer | +44 (0) 1253 897700 |
Dr James Routh, Chief Executive Officer | +44 (0) 1253 897700 |
About Victrex:
Victrex is an innovative world leader in high performance polymer solutions, focused on the end-markets of Automotive, Aerospace, Energy & Industrial, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to energy operations and medical devices. With over 40 years' experience, our products shape future performance for our customers and our end-markets, enable environmental and societal benefit and drive value for our shareholders. Find out more at www.victrexplc.com
Forward looking statements:
This announcement has been prepared solely to provide additional information to the shareholders of Victrex plc, to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, for any other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.
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