**Chemring Group PLC Trading Statement Summary (November 10, 2025)**
Chemring Group PLC provided a post-close and contract wins update for FY25, highlighting key financial and operational developments as it enters its close period for the year ended October 31, 2025.
**Financial Performance**
**FY25 adjusted operating profit** is in line with analyst expectations, with a margin of ~14.7% (up from 14.2% in FY24).
**Adjusted EPS** is expected to benefit from slightly lower finance costs.
**Net debt** as of October 312025is ~£95m.
**Order book** increased to £1.3bn (from £1.0bn in October 2024), with order intake for the year at ~£781m.
**Operational Highlights**
**Energetics segment** outperformed, driven by increased demand for propellants, energetic materials, and high-integrity devices.
**Sensors & Information segment** faced softness due to delayed UK Government orders, particularly in National Security and Defence.
**Countermeasures & Energetics** achieved ~95% order cover for FY26, while **Sensors & Information** secured ~47% cover.
**Significant Contract Wins**
1. **Energetics**
Chemring Energetic Devices (US) won a $65m sole-source framework contract for aircrew flight equipment <mark style="background-color:yellow">test</mark>er systems.
Chemring Energetics UK secured a £24m order for rocket motors and components for the Next Generation Light Anti-Tank Weapon (NLAW) system.
Chemring Nobel (Norway) won a £23m order from Nammo for HMX products.
2. **Countermeasures**
Chemring Australia won a US$35m contract for airborne countermeasures.
Chemring Countermeasures UK secured a £15m order from NATO for airborne countermeasures.
3. **Sensors & Information**
Roke won over £40m in National Security contract renewals and a £20m contract for Project ZODIAC, a critical technology program for the British Army.
**Strategic Developments**
**Landguard Group acquisition** completed in August 2025, enhancing Roke’s growth and operational synergies.
**Alloy Surfaces** (US countermeasures business) will be reported as a discontinued operation due to declining demand from the US Department of Defense. Strategic options, including a potential sale, are under consideration.
**Outlook**
Robust market conditions and increasing demand for technology-driven solutions and traditional defence capabilities are expected to sustain growth.
Full-year results for FY25 will be released on December 9, 2025.
**Directorate Change**
Fiona MacAulay, Senior Independent Director, will step down at the February 2026 AGM after completing her second three-year term.
Chemring remains focused on its niche markets, leveraging R&D investments to meet evolving customer needs in defence, security, and aerospace.