Senior plc: Q1 2025 Trading Update

Robust start to the year; full year expectations unchanged

Ahead of its Annual General Meeting on Friday 25 April 2025, Senior plc ("Senior" or "the Group"), an international manufacturer of high technology components and systems, today issues this Trading Update for the three months ended March 2025 (the "Period").

Key points

Trading Update

Senior has had a strong start to the year, with trading in the Period in line with expectations.  Group revenue grew by 3% compared to prior year on a constant currency basis.  Aerospace revenue grew by 4% driven by growth in civil aerospace.  Flexonics revenue was similar to prior year, with continued strong performance in downstream oil & gas offsetting the anticipated lower sales to upstream oil and gas customers.

Impact of tariffs

For Senior, the direct impact of announced tariffs is limited and manageable.  We remain mindful of the potential broader macroeconomic impact on the market sectors in which we operate and will continue to monitor the situation and respond appropriately.

Aerostructures sale

In our results statement on 3 March 2025, we stated that we are committed to a sale of our Aerostructures business and that good progress was being made, noting we were at an advanced stage of a sale process with a small number of parties and negotiations progressing positively.  Since then, we have made further good progress and detailed discussions with parties are ongoing.  We remain focused on completing the sale process and maximising value for shareholders and will update the market in due course.

Outlook

Overall, the outlook for the full year is unchanged; the Board anticipates good growth for the Group in 2025, in line with its expectations.

We continue to expect Flexonics performance for the full year to be broadly similar to 2024.  Good growth is anticipated in Aerospace in 2025, driven by increasing aircraft build rates, operational efficiency benefits and improved contract pricing, with H2 performance expected to be higher than H1.

For the full year, we remain on track to deliver Aerostructures operating profit in the range of £9m to £11m, with the large majority of that being earned in H2.

Further information

About Senior

Senior is a FTSE 250 international engineering and manufacturing Group with operations in 12 countries.  It is listed on the main market of the London Stock Exchange (symbol SNR).  Senior's Purpose is "we help engineer the transition to a sustainable world for the benefit of all our stakeholders".  Senior designs and manufactures high technology components and systems for the principal original equipment producers in the worldwide aerospace & defence, land vehicle and power & energy markets.  Further information on Senior plc may be found at: www.seniorplc.com

Cautionary Statement

This Trading Update contains certain forward-looking statements.  Such statements are made by the Directors in good faith based on the information available to them at the time of their approval of this Update and they should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.