Half Year 2025 IMI PLC Earnings Call Transcript
Key Points
- IMI PLC (IMIAF) reported a 2% organic sales growth and a 5% organic adjusted operating profit growth in the first half of 2025.
- The company completed a GBP200 million share buyback and raised the interim dividend by 10%, reflecting strong shareholder returns.
- IMI PLC (IMIAF) has a record order book in Process Automation and strong demand in Climate, indicating positive momentum heading into the second half.
- The company successfully managed a serious cyber attack, limiting its impact to temporary operational disruption and demonstrating resilience.
- IMI PLC (IMIAF) is on track to deliver its fourth consecutive year of mid-single-digit organic revenue growth, with a strong focus on strategic growth areas like automation and energy efficiency.
- The company faced a GBP25.4 million exceptional charge in the first half due to the cyber incident, impacting financials.
- Statutory revenue was slightly lower due to a weaker US dollar, affecting overall revenue performance.
- Transport revenue was down 9% organically in the first half, reflecting challenges in this segment.
- Free cash flow was lower than the prior period, largely due to exceptional costs from the cyber incident and a loan to the UK pension scheme.
- The company anticipates a 1.5% headwind to profits for the full year due to volatile exchange rates.
Good morning, everybody, and welcome to IMI's 2025 interim results presentation. I am joined here as usual, but sadly for the last time by Dan Shook. I'd also like to extend a very warm welcome to Luke Grant, who many of you already know and is joining the presentation for the very first time.
This slide covers the key messages in the presentation. And the first thing to say is that it was another good performance in the first half. We delivered 2% organic sales growth and 5% organic adjusted operating profit growth. Adjusted operating margins were up another 30 basis points and we delivered an outstanding GBP64 million of orders through our innovative growth hub.
And I would like to express a personal thank you to everyone across for their hard work and dedication during the first half to deliver this performance amid the market uncertainty and to recover so quickly from the cyber incident reflects a tremendous effort from all of our people.
I'm also pleased to report that the GBP200 million share buyback announced in
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