The earnings call presented a mixed picture with notable achievements in volume growth and cash conversion, while facing significant challenges due to currency impacts, weaker medical spine performance, and losses from the China facility. The profit improvement plan and diversification in medical revenues are positive steps, but current financial challenges weigh heavily.

Company Guidance

In the call, Victrex provided guidance on various financial metrics for fiscal year 2025 and the outlook for 2026. The company reported a 12% increase in sales volume, reaching 4,164 tonnes, mainly driven by value-added resellers (VARs) and the Energy & Industrial sector. Despite the robust volume growth, underlying profit before tax (PBT) was impacted by an adverse currency effect of GBP 8 million, resulting in a 21% decrease to GBP 46.4 million. However, cash conversion was strong at 121%, benefiting from efficient working capital management. Capital expenditures (CapEx) saw a significant reduction, reflecting the conclusion of recent investment phases. For fiscal 2026, Victrex is targeting low to mid-single-digit volume growth and aims to achieve at least GBP 10 million in savings through a profit improvement plan. Gross margin for FY '26 is expected to be flat to slightly ahead, with the China manufacturing facility remaining a focus for operational improvements. The company will maintain its dividend and review its capital allocation policy, aiming to retain a strong balance sheet with a net debt-to-EBITDA range of 0.5x to 1x.

Strong Volume Growth

Sales volume increased by 12% to 4,164 tonnes, primarily driven by value-added resellers and Energy & Industrial sectors.

Cash Conversion Performance

Operating cash conversion was strong at 121%, reflecting effective working capital management and a significant reduction in capital expenditures.

Profit Improvement Plan

Announced a profit improvement plan targeting GBP 10 million in savings, leveraging self-help actions and foundational investments in infrastructure and technology.

Diversified Medical Business

Non-spine medical revenues comprised 74% of the total medical revenue, up from 25% in 2015, indicating diversification within the medical sector.

Victrex (GB:VCT) Earnings, Revenues Date & History

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GB:VCT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 18, 2026	2026 (Q2)	- / -	0.224	―	―	―
Dec 02, 2025	2025 (Q4)	0.18 / 0.18	0.346	-49.13% (-0.17)	―	―
May 12, 2025	2025 (Q2)	0.25 / 0.22	0.27	-17.04% (-0.05)	―	―
Dec 03, 2024	2024 (Q4)	0.35 / 0.35	0.364	-4.95% (-0.02)	―	―
May 13, 2024	2024 (Q2)	- / 0.27	0.483	-44.10% (-0.21)	―	―
Dec 05, 2023	2023 (Q4)	0.36 / 0.36	0.478	-23.85% (-0.11)	―	―
May 09, 2023	2023 (Q2)	0.48 / 0.48	0.478	1.05% (<+0.01)	―	―
Dec 06, 2022	2022 (Q4)	- / 0.48	0.365	30.96% (+0.11)	―	―
May 09, 2022	2022 (Q2)	- / 0.48	0.469	1.92% (<+0.01)	―	―
Dec 06, 2021	2021 (Q4)	0.30 / 0.36	0.152	140.13% (+0.21)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:VCT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 02, 2025	624.00p	672.00p	+7.69%
May 12, 2025	889.45p	828.51p	-6.85%
Dec 03, 2024	824.55p	943.96p	+14.48%
May 13, 2024	1194.34p	1209.22p	+1.25%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Victrex PLC (GB:VCT) report earnings?

Victrex PLC (GB:VCT) is schdueled to report earning on May 18, 2026, TBA (Confirmed).

What is Victrex PLC (GB:VCT) earnings time?

Victrex PLC (GB:VCT) earnings time is at May 18, 2026, TBA (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is the P/E ratio of Victrex PLC stock?

The P/E ratio of Victrex is N/A.

What is GB:VCT EPS forecast?

Currently, no data Available