Bodycote Reports Revenue Drop but Maintains Positive Outlook for 2025

Bodycote plc (LSE:BOY) has released a trading update revealing a 6% decrease in group revenue during the first four months of 2025 compared to the same period last year. This decline is largely due to tough comparisons with the previous year’s strong performance and a reduction in energy surcharges. While the Automotive and Industrial sectors faced headwinds, the company saw encouraging growth in its Civil Aerospace and Defence divisions.

Continuing to push forward with its ‘Optimise, Perform & Grow’ initiative, Bodycote is focused on boosting operational efficiency and strengthening its resilience. Key plans include expanding its plant network and advancing efforts to reduce overhead costs. The company expects a stronger second half in adjusted operating profit, supported by new contract wins in Defence and Oil & Gas, alongside growth momentum in Aerospace & Defence.

Financial and Market Position

Bodycote’s financial results show a mixed picture: steady cash flow contrasts with higher leverage and falling profitability. Technical indicators suggest a stable outlook, and recent corporate developments — such as a share buyback program and new board appointments — add positive momentum. Despite concerns over a relatively high price-to-earnings ratio, the company’s attractive dividend yield offers some appeal to investors.

About Bodycote

Bodycote is a global leader in heat treatment and specialist thermal processing, serving industries including Civil Aerospace, Automotive, Industrial, and Defence. Renowned for its expertise in precision heat treatment technologies, Bodycote focuses on enhancing material durability and performance to meet demanding industry standards.

• Average Daily Trading Volume: 397,763

• Technical Sentiment: Sell

• Market Capitalization: £931 million

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