Essentra Full-Year Report 2023

Highlights

• FY 2023 adjusted operating profit in line with expectations
• Revenue of £316.3m (2022: £337.9m); 4.4% decline at constant currency
• Adjusted operating profit increased to £43.2m (2022: £25.1m)
• Adjusted operating margin expansion to 13.7% (2022: 7.4%)
• Strong pricing sustained, offsetting inflation
• Pro-active approach to cost management across the Group
• Central corporate costs re-sized, in line with the c.£13m run rate previously guided
• Strategically aligned bolt-on acquisition of BMP TAPPI, completed in October 2023, demonstrating continued momentum of Essentra’s inorganic strategy