Morgan Advanced Materials Income Statement

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	1,051	1,101	1,115	1,112	950.5	910.7
Revenue Growth (YoY)	-6.53%	-1.26%	0.23%	17.00%	4.37%	-13.23%
Cost of Revenue	935.6	972.3	994.4	960.2	818	816.3
Gross Profit	115.1	128.4	120.3	151.9	132.5	94.4
Selling, General & Admin	0.5	0.6	-	1.9	1.9	3.1
Amortization of Goodwill & Intangibles	1.1	1.7	3.3	4.7	6	6.1
Operating Expenses	1.6	2.3	3.3	6.6	7.9	9.2
Operating Income	113.5	126.1	117	145.3	124.6	85.2
Interest Expense	-23.4	-21	-18	-9.4	-8.4	-10.2
Interest & Investment Income	3	2.6	3.9	1.6	0.8	0.9
Earnings From Equity Investments	-	-	-	-	0.4	0.6
EBT Excluding Unusual Items	93.1	107.7	102.9	137.5	117.4	76.5
Merger & Restructuring Charges	-21.5	-13.1	-5.4	-0.3	-0.7	-60.8
Asset Writedown	-4.2	-4.2	0.8	-5.6	-12.4	-28.8
Other Unusual Items	-10.3	-5.8	-20.5	-	-	-
Pretax Income	57.5	84.6	77.8	131.6	104.3	-13.1
Income Tax Expense	21.8	25.9	22.2	36	28.2	6.9
Earnings From Continuing Operations	35.7	58.7	55.6	95.6	76.1	-20
Earnings From Discontinued Operations	0.1	0.1	0.7	1.1	5.7	2
Net Income to Company	35.8	58.8	56.3	96.7	81.8	-18
Minority Interest in Earnings	-7.9	-8.5	-9	-8.7	-8	-4.5
Net Income	27.9	50.3	47.3	88	73.8	-22.5
Net Income to Common	27.9	50.3	47.3	88	73.8	-22.5
Net Income Growth	-52.39%	6.34%	-46.25%	19.24%	-	-
Shares Outstanding (Basic)	283	285	285	284	285	285
Shares Outstanding (Diluted)	285	287	287	287	287	286
Shares Change (YoY)	-1.09%	-	0.17%	-0.07%	0.32%	-0.03%
EPS (Basic)	0.10	0.18	0.17	0.31	0.26	-0.08
EPS (Diluted)	0.10	0.18	0.17	0.31	0.26	-0.08
EPS Growth	-52.04%	5.99%	-46.08%	19.46%	-	-
Free Cash Flow	27.1	17.2	18.1	-39	73.8	79.8
Free Cash Flow Per Share	0.10	0.06	0.06	-0.14	0.26	0.28
Dividend Per Share	0.122	0.122	0.120	0.120	0.091	0.055
Dividend Growth	1.24%	1.67%	-	31.87%	65.45%	37.50%
Gross Margin	10.96%	11.67%	10.79%	13.66%	13.94%	10.37%
Operating Margin	10.80%	11.46%	10.50%	13.06%	13.11%	9.35%
Profit Margin	2.66%	4.57%	4.24%	7.91%	7.76%	-2.47%
Free Cash Flow Margin	2.58%	1.56%	1.62%	-3.51%	7.76%	8.76%
EBITDA	146.8	160.7	149.4	176.4	155.8	120.5
EBITDA Margin	13.97%	14.60%	13.40%	15.86%	16.39%	13.23%
D&A For EBITDA	33.3	34.6	32.4	31.1	31.2	35.3
EBIT	113.5	126.1	117	145.3	124.6	85.2
EBIT Margin	10.80%	11.46%	10.50%	13.06%	13.11%	9.35%
Effective Tax Rate	37.91%	30.61%	28.54%	27.36%	27.04%	-

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.