SNR Senior Plc

TIDMSNR

RNS Number : 8847T

Senior PLC

20 November 2023

Senior plc: Trading Update

Trading in line with expectations. Full year outlook maintained

Senior plc ("Senior", "Company" or the "Group"), an international manufacturer of high technology components and systems, principally for the worldwide aerospace & defence, land vehicle and power & energy markets, today issues this trading update for the ten-month period ended October 2023 (the "Period").

Key points

 
 --   Trading in the Period in line with expectations 
 --   Robust market demand underpinning strong growth 
 --   Full year 2023 outlook maintained, with strong growth anticipated 
       for the Group 
 

Trading update

Overall, trading in the Period has been positive and in line with expectations with Group revenue growing 15% year-on-year on a constant currency basis, underpinned by a healthy book-to-bill ratio of 1.20.

Both our Aerospace and Flexonics divisions contributed to the year-on-year improvement, reflecting the strength in our core markets and our positioning on key growth platforms across both divisions. The Group benefitted from robust growth in commercial aerospace, land vehicle and power & energy markets.

Outlook

Overall, the Board's expectations of strong growth for the Group in 2023 are unchanged.

We expect to see strong year-on-year growth in the Flexonics division in 2023, though we remain mindful of market commentary around some markets moderating in 2024.

Our Aerospace division sales are also expected to see good year-on-year growth in 2023 and we continue to expect Aerospace performance to improve in 2024 and beyond as supply chain challenges dissipate and production rates increase.

Further information

 
                         Group Finance Director, Senior     +44 (0) 1923 714 
Bindi Foyle               plc                                725 
                         Director of Investor Relations,    +44 (0) 1923 714 
Gulshen Patel             Senior plc                         722 
                                                            +44 (0) 7796 708 
Richard Webster-Smith    FGS Global                          551 
 

About Senior

Senior is a FTSE 250 international 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 announcement 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 the announcement, and they should be treated with caution due to the inherent uncertainties underlying any such forward-looking information.

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November 20, 2023 02:00 ET (07:00 GMT)

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