Company Announcements

Press Release

Morgan Advanced Materials plc

14 October 2025

Q3 Trading Update

Q3 Trading Update

As expected, Group sales for the first nine months of the year to 30 September 2025 were 3.6% lower than the same period last year, on an organic constant currency basis.  Revenue for the third quarter was 1.6% higher than the third quarter last year, continuing to reflect signs of stabilisation in a number of our end markets.

2025 Outlook

Demand in Semiconductor markets has remained weak as a result of customer inventories, resulting in further orders being pushed into 2026 and lower than expected revenue in 2025.  We also note increasing uncertainty in European industrial markets.  We now expect 2025 full year sales to be c.4% lower than the prior year, on an organic constant currency basis.

With under-recovered costs from lower sales volumes in the short-term, a weaker mix and some FX impact, we now expect to deliver an adjusted operating profit margin of c.10% for the year.

Whilst the markets remain challenging the Group continues, as has been our regular practice, to focus on strong cost management and simplification of our business.

For further enquiries:

Richard Armitage, CFO                                   Morgan Advanced Materials                       01753 837 000

Nicholas Frost, Investor Relations                                            

Nina Coad                                                         Brunswick                                                      0207 404 5959

We note that the sale of the Molten Metal Systems ("MMS") business is expected to complete in due course. This statement still includes the full year impact on the results of the MMS business.

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of Morgan Advanced Materials plc is Richard Armitage, Chief Financial Officer. The Company's LEI number is I4K14LL95N2PHDL7EG85.

Important notice:

This announcement contains forward-looking statements. These statements have been made in good faith based on the information available up to the time of the approval of this announcement. No assurance can be given that these expectations will prove to have been correct. By their nature, forward-looking statements involve risks, uncertainties or assumptions that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. As such, undue reliance should not be placed on forward-looking statements.

 The Directors undertake no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.