**Summary of Senior PLC 2025 Annual Results**
**Financial Performance**
**Revenue** £738.2 million, up 4% from 2024, with a 6% increase in constant currency.
**Adjusted Profit Before Tax** £51.2 million, a 21% increase from 2024, driven by improved performance in Aerospace and Flexonics.
**Adjusted Operating Profit** £63.6 million, up 20% from 2024, with a margin of 8.6%.
**Free Cash Flow:** £35.8 milliona 37% increase from 2024with a cash conversion rate of 90%.
**Net Debt** Reduced to £73.3 million from £153.4 million in 2024, with leverage (net debt to EBITDA) decreasing to 0.9x from 1.8x.
**Strategic Highlights**
**Aerostructures Sale** Successfully completed the sale of the Aerostructures business on 31 December 2025, positioning Senior as a leading Fluid Conveyance and Thermal Management company.
**Divisional Performance**
**Aerospace** Revenue up 10.4% to £426.3 million, with adjusted operating margin improving to 11.4%.
**Flexonics** Revenue marginally up 0.1% to £313.4 million, with adjusted operating margin (including JV) at 12.1%.
**Sustainability** Achieved CDP Climate A list and CDP Supplier Engagement A list, enhancing customer differentiation.
**Dividends and Shareholder Returns**
**Total Dividend** Increased by 25% to 3.00 pence per share, with a final dividend of 2.15 pence per share proposed.
**Share Buyback** A £40 million share buyback program was postponed due to ongoing discussions with potential offerors.
**Outlook**
**2026 Trading** In line with expectations, with unchanged outlook.
**Medium-Term Targets** On track to achieve targets, including double-digit adjusted operating margins, cash conversion >85%, and ROCE of 15-20%.
**Management Commentary**
**David Squires, CEO** Highlighted the pivotal year with the Aerostructures sale, strong divisional performance, and progress towards medium-term financial targets. Emphasized disciplined capital allocation, balance sheet strengthening, and sustainability achievements.
**Key Metrics and Targets**
**ROCE** Improved to 13.1% from 11.7% in 2024.
**Cash Conversion** Exceeded medium-term target at 90%.
**Medium-Term Financial Targets** Group adjusted operating margins of at least double-digit, cash conversion >85%, and ROCE of 15-20%.
**Conclusion**
Senior PLC delivered strong financial results in 2025, marked by significant strategic progress, improved profitability, and strengthened financial position. The company is well-positioned for future growth, with a focus on its core Fluid Conveyance and Thermal Management businesses and a commitment to sustainability and shareholder value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
**Key Observations:** 1. **Revenue Growth:** Revenue increased by 4% from £707.4m in 2024 to £738.2m in 2025, driven by strong performance in Aerospace and marginal growth in Flexonics. 2. **Profitability Improvement:** Adjusted Profit Before Tax saw a significant increase of 21%, from £42.2m to £51.2m, despite a slight decrease in reported Profit Before Tax. 3. **Cash Flow Enhancement:** Free Cash Flow improved by 37%, from £26.1m to £35.8m, reflecting better operational efficiency and working capital management. 4. **Debt Reduction:** Net Debt (excluding capitalised leases) decreased by 52%, from £153.4m to £73.3m, primarily due to the sale of the Aerostructures business and strong cash generation. 5. **Leverage Improvement:** Leverage ratio (Net Debt to EBITDA) halved from 1.8x to 0.9x, indicating a stronger balance sheet and reduced financial risk. This table provides a clear year-on-year comparison of key financial metrics and debt position for Senior PLC.
