Rotork PLC Trading Update (2773H)
2022年11月23日 - 4:44PM
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RNS Number : 2773H
Rotork PLC
23 November 2022
Rotork Plc
Trading update
Successful management actions delivering a strong revenue
recovery
23 November 2022
Rotork plc ("Rotork"), the global provider of mission-critical
intelligent flow control solutions, today issues the following
trading update covering the four-month period to 30 October
2022.
Trading update
Revenues in the four months grew 18.6% year-on-year on an OCC(1)
basis, benefiting from higher selling prices as well as the
successful supply chain improvement measures implemented over the
last 18 months. These initiatives included direct purchasing and
forward buying of semiconductors, re-certification and
re-engineering of products, securing of contracted logistics routes
and tactical inventory build.
Activity in the period was driven by customers' operational
rather than capital expenditure and they continue to spend on
automation, electrification and digitalisation projects as well as
modernisation and maintenance. Order intake was ahead a low single
digit percentage year-on-year on an OCC basis, reflecting the
strength of the prior year period which included several larger
orders which were not repeated. Order intake in October was
encouraging, solidly ahead year-on-year.
Rotork retains a strong balance sheet. Net cash at 30 October
2022 was GBP79.4m (June 2022: GBP90.4m). During the period we paid
an interim dividend of GBP20.6m.
Growth+
Earlier this month we outlined our new Growth+ strategy at a
Capital Markets Event. Growth+ is designed to deliver our growth
ambition through our three pillars of Target Segments, Customer
Value and Innovative Products & Services, each underpinned by
our 'Enabling a Sustainable Future' initiative.
We continue to see good growth opportunities in our Target
Segments. In North American upstream, for example, there is growing
momentum behind electrification in the drive towards methane
emissions reduction. In the Middle East, carbon capture and storage
is increasingly being incorporated into major gas projects and the
desalination market is particularly active. As part of our
commitment to making a positive social impact we have announced an
employee benefits review which included bringing forward salary
increases for all but our most senior people.
We were pleased to have been ranked recently in the top 5%
globally in the Machinery and Electrical Equipment industry by
S&P in its highly regarded Corporate Sustainability
Assessment.
Outlook
We expect 2022 adjusted operating profit to be in line with
expectations on an OCC basis and anticipate entering 2023 with a
record order book that is significantly higher than when we started
this year.
Rotork will publish 2022 full-year results on Tuesday 28
February 2023.
(1) OCC is organic constant currency results excluding acquired
and discontinued businesses and restated at 2021 exchange rates
Enquiries:
Rotork plc Tel: +44 (0)1225 733 200
Kiet Huynh, Chief Executive
Jonathan Davis, Finance Director
Andrew Carter, Investor Relations
Director
FTI Consulting Tel: + 44 (0)20 3727 1340
Nick Hasell / Susanne Yule
Legal Entity Identifier: 213800AH5RZIHGWRJ718
About Rotork
Rotork is a market-leading global provider of mission-critical
intelligent flow control solutions for oil & gas, water and
wastewater, power, chemical process and industrial applications. We
help customers around the world to improve efficiency, reduce
emissions, minimise their environmental impact and assure safety.
Rotork employs about 3,200 people, has manufacturing facilities in
more than 17 locations and serves 170 countries through a global
service network. Its shares have a premium listing on the London
Stock Exchange (symbol: ROR) and are a constituent of the FTSE 250
index. For more information please visit www.rotork.com .
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END
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November 23, 2022 02:00 ET (07:00 GMT)
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