London · Delayed Price · Currency is GBP · Price in GBX Johnson Matthey Earnings Call Transcripts
Fiscal Year 2026
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Underlying operating profit rose 38% year-over-year, with strong margin gains in Clean Air and PGMs. Cash flow turned positive, the Catalyst Technologies sale is on track, and organizational streamlining is underway. Clean Air and PGM segments are well positioned for future growth.
Fiscal Year 2025
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The meeting highlighted strong financial performance, a major asset sale, and a leadership transition. Shareholders will receive significant returns, mainly via special dividend, pending regulatory approvals. Strategic focus remains on core businesses and hydrogen technology.
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Announced GBP 1.8 billion sale of Catalyst Technologies, with GBP 1.4 billion to be returned to shareholders. Clean Air and PGMs now form the core, targeting higher margins and cash generation, with sustainable GBP 200 million annual shareholder returns from 2026/2027.
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Resilient first-half results with sales and profit slightly down year-over-year, but strong cost savings and transformation progress. Full-year guidance maintained, with a robust second half expected, driven by segment recovery and operational efficiency.
Fiscal Year 2024
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The meeting covered board introductions, shareholder Q&A on business disposals, debt reduction, and PFAS use, and outlined voting procedures. Stakeholder engagement and regulatory risks were discussed, with voting results to be published post-meeting.
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PGM Services is positioned for sustainable growth, driven by recycling, high-value products, and operational efficiencies. A new refinery will enhance cash flow and efficiency, while policy and market trends support long-term demand. Guidance is for at least low single-digit profit growth.