Victrex Plc (LON:VCT) has said its trading update for the third quarter of FY 2026 covers the three months from 1 April 2026 to 30 June 2026.
Q3 and year-to-date (YTD) performance summary
| · | Q3 (3 months ended 30 June 2026) Group revenues grew 18% vs Q3 2025, driven by Group volumes increasing by 17%. Year-on-year performance reflects momentum continuing from Q2 in Sustainable Solutions end markets, supported by some stabilisation in Medical. |
| · | At divisional level, Aerospace and Electronics were the main drivers of growth in Sustainable Solutions. Aerospace had a much weaker prior year comparator following industry supply chain backlogs in 2025. |
| · | Average selling price (ASP) of £68/kg was in line with the prior year (Q3 2025: £68/kg). |
| · | Year to date (YTD) Group revenues increased by 7%, with YTD Group volumes up 10%. |
| Quarter ended 30 June (Q3) | Nine months ended 30 June(YTD) | ||||
| 2026 | 2025 | % change | 2026 2025 % change | ||
| Revenue (£m) | 84.5 | 71.5 | +18% | 231.6 217.3 +7% | |
| Sales volume (tonnes) | 1,238 | 1,057 | +17% | 3,375 3,075 +10% | |
Good progress with Profit Improvement Plan and Unlocking Victrex’s Potential
Since the start of 2026, we have made good progress in taking actions to simplify the business, to refresh our leadership team and decentralise our organisation, enabling us to become closer to our customers. Our headcount reduction of c10% of roles will start to see initial benefits in our final quarter (Q4), with most employees directly affected having left the business during Q3. We remain on track for annualised cost savings of at least £10m, which will be fully realised in FY 2027. As previously communicated, cash exceptional items for FY 2026 are expected to be approximately £10m.
Financial position
Net debt at 30 June 2026 was £43.0m, with cash of £27.5m. This is after payment of the Group’s FY 2026 interim dividend (13.42p/share), totalling approximately £12m.
Outlook: full-year guidance maintained
Dr James Routh, Chief Executive Officer of Victrex, said:
“Q3 maintained the positive momentum we saw through our second quarter. Compared to the prior year, revenue growth was driven by improvement across several end markets, particularly Aerospace and Electronics, with some stabilisation in Medical.
In our final quarter (Q4), whilst we will start to see initial cost savings as part of our Profit Improvement Plan, we remain mindful of normal seasonality and wider macroeconomic conditions including the potential implications for global demand and energy costs. Our full year guidance is therefore unchanged and as previously communicated, the Board expects FY 2026 underlying PBT to be in the range of £42m-£44m.
Our growth opportunities remain strong across a broad range of end markets and geographies. With a clear and differentiated value proposition, unmatched expertise in PEEK and world class applications know-how, we are focused on driving significant improvement in profitability over the medium term.”
Capital Markets Event 2026: Unlocking Victrex’s Potential
The Group will host its 2026 Capital Markets Event ‘Unlocking Victrex’s Potential’ at Investec, 30 Gresham Street, London, EC2V 7QP, UK, on Thursday 24th September starting at 15.00 UK time, followed by an informal reception at 18.00.
This event will focus on:
· Progress in our Profit Improvement Plan
· The addressable market and delivering new application opportunities for VictrexTM PEEK
· Our revised operating model and refreshed leadership team
· Our roadmap to significant improvement in profitability over the medium term
