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(Sharecast News) - Vesuvius reported first-half revenue of 913.7m on an adjusted basis on Thursday, up 1.5% at constant currencies, while trading profit was broadly flat at 74.0m as operational problems in its Steel division offset pricing gains and cost savings.
Return on sales slipped to 8.1% from 8.5%, while adjusted basic earnings per share fell 0.7% at constant currencies to 16.3p.
Free cash flow improved to 27.5m from an outflow of 13.9m, while net debt to EBITDA reduced to 1.9 times from 2.0 times at the end of 2025.
The FTSE 250 molten metal engineering group said Foundry delivered a significant improvement, helped by positive pricing, structural cost reductions, market share gains and the MMS acquisition, while 7.4m of group cost savings were delivered ahead of schedule.
"Whilst we remain mindful of the geopolitical uncertainty stemming from the Middle East, we believe the structural recovery in our steel markets is resilient and will continue in the second half and beyond," said chief executive Patrick Andr.
Vesuvius expects full-year trading profit to be slightly ahead of 2025 at constant currencies and maintained its interim dividend at 7.1p per share.
At 1008 BST, shares in Vesuvius were up 3.89% at 378.15p.
Reporting by Josh White for Sharecast.com.
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