Here is a summary of the trading update from IMI PLC for the first quarter of 2025
IMI PLC, a specialist engineering company, reconfirms its full-year guidance, expecting mid-single-digit organic revenue growth in 2025.
The company experienced strong momentum in the Process Automation Aftermarket, with orders up 19% organically in the first quarter and an overall order book that is 13% higher than in March 2024.
Group organic revenue was 3% lower than the previous year, with Automation revenue down 4% due to temporary disruption from a cyber incident.
Life Technology revenue decreased by 2% organically, while Climate Control organic revenue increased by 4% due to strong demand for energy-efficient products.
IMI announces a strategic review of its Transport sector to assess its ability to deliver medium-term financial targets, representing 8% of the companys revenue in 2024.
Exchange rates may negatively impact revenue and adjusted operating profit by approximately 2% for the full year.
IMI remains confident in its ability to manage the impact of proposed tariffs and is alert to opportunities for further growth.
The company reconfirms its full-year adjusted EPS guidance of between 129p and 136p, while closely monitoring market conditions and foreign exchange headwinds.
IMIs interim results for the first half of 2025 will be announced on August 1, 2025.
Overall, IMI PLC maintains a positive outlook for the year, despite some challenges, and is focused on strategic progress and delivering value to shareholders.