Melrose Industries PLC Trading Update & Capital Markets Event (1902N)
19 January 2023 - 6:00PM
UK Regulatory
TIDMMRO
RNS Number : 1902N
Melrose Industries PLC
19 January 2023
19 January 2023
MELROSE INDUSTRIES PLC
Trading Update & Capital Markets Event
Ahead of the DemergerCo(1) Capital Markets Event later today,
Melrose Industries PLC ("Melrose") is pleased to announce the
unaudited(2) anticipated result for the DemergerCo(1) businesses
for the year ended 31 December 2022.
Melrose will announce its full audited results for 2022 on
Thursday 2 March 2023. The Aerospace division traded in line with
expectations in 2022 and is experiencing continued strong momentum
into 2023.
Unaudited(2) anticipated result for DemergerCo(1) for the year
ended 31 December 2022
The unaudited(2) anticipated combined adjusted result for the
DemergerCo(1) businesses is ahead of expectations in 2022, with a
6% year-on-year rise in revenue and a 21% increase in operating
profit. This is due to a better operational performance,
successfully offsetting the full inflation headwinds in 2022 and
achieving the planned benefits on restructuring projects.
Combined
Year ended 31 December 2022 anticipated DemergerCo(1)
adjusted results businesses Constant
(includes Automotive, Powder Metallurgy (unaudited(2) currency
and Hydrogen) ) growth
Revenue GBP5,200m 6%
---------------- ----------
GBP320m -
Operating profit range GBP330m 21%(3)
---------------- ----------
Operating margin(3) 6.3% +0.8 ppts
---------------- ----------
GBP605m -
EBITDA range GBP615m 5%(3)
---------------- ----------
EBITDA margin(3) 11.7% Flat
---------------- ----------
DemergerCo(1) Capital Markets Event
A Capital Markets Event for the DemergerCo(1) businesses will
take place in London this afternoon for institutional investors and
analysts. The event will include comprehensive presentations on
Automotive and Powder Metallurgy, and information on other aspects
of the DemergerCo Group. A video recording and Q&A transcript
will be available after the event on the Melrose website. The
presentation will be available from 1.45pm, before the event
starts.
Demerger timetable
The demerger timetable is progressing well with the intention to
seek shareholder approval at the end of March 2023, with a view to
completing the demerger shortly thereafter.
Simon Peckham, Chief Executive of Melrose Industries PLC,
said:
"We are proud of what has been achieved at DemergerCo(1) during
our ownership and are sure that with its excellent management team
it will have a successful future as an independent group. We look
forward to the Capital Markets Event later today, for DemergerCo,
outlining the impressive positioning and prospects that it
holds."
-ends-
1. DemergerCo consists of the Automotive, Powder Metallurgy and
Hydrogen businesses, before Melrose central costs
2. The information contained in this announcement has not been
subject to an independent audit or review. Such information is
based on anticipated internal results and is subject to completion
of an independent audit and related procedures
3. Calculated using the middle of the anticipated result range
Enquiries:
Montfort Communications: +44 (0) 20 3514 0897
Nick Miles +44 (0) 7739 701634 / Charlotte McMullen +44 (0) 7921
881800
miles@montfort.london / mcmullen@montfort.london
Investor Relations: Chris Dyett +44 (0) 7974 974690
ir@melroseplc.net
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END
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