Bodycote plc (BYPLF) Q4 2025 Earnings Call Transcript

SA Transcripts158.92K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Bodycote plc (BYPLF) Q4 2025 Earnings Call March 11, 2026 5:30 AM EDT Company Participants James Fairbairn - Group CEO & DirectorBenjamin Fidler - CFO & Director Conference Call Participants Andrew Douglas - Jefferies LLC, Research DivisionJonathan Hurn - Barclays Bank PLC, Research DivisionThomas Elgar - Deutsche Bank AG, Research DivisionHarry Philips - Peel Hunt LLP, Research Division Presentation James FairbairnGroup CEO & Director Good morning, everyone. And thanks for joining us today for the 2025 Bodycote full year results. I'm Jim Fairbairn, CEO; and with me is our CFO, Ben Fidler. And I'm going to give some brief introductory remarks and that will set the context and give some highlights. I'll then pass to Ben to go deeper into the financials. And I'll then come back and talk about the important progress that we've made on the strategy and how we're positioned and how we see the outlook. So you'll remember, we set out to firstly build a quality extended leadership team; secondly, significantly reposition and restructure the business; and thirdly, deploy from our Capital Markets Day, which, as you'll recall, was focused on optimizing the quality of our business, performance and growth. And in conditions which were challenging in some of our end markets, we've delivered a significant amount last year. In terms of the highlights, revenue momentum improved in the second half, more of that in a second. And the most important to me is the quality of the portfolio. We've been executing at pace. We've sold 10 sites in France and closed a further 8 sites and also made a strategic aerospace acquisition on the East Coast of the U.S. This is a first sign of a more bolt-on acquisitions to come. And on top of that, our balance sheet remains healthy. Today, we're able to announce a further GBP 80 million buyback that