Senior PLC
LSE:SNR
Senior PLC
Senior Plc designs, manufactures and markets technology components and systems. The company is headquartered in Rickmansworth, Hertfordshire and currently employs 5,664 full-time employees. The firm designs, manufactures and markets engineered, technology components and systems for principal original equipment producers in the aerospace and defense, land vehicle and power and energy markets across the world. The company operates through two divisions: Aerospace and Flexonics. The Aerospace division serves both the commercial aerospace and defense markets with a range of products and systems for structures, fluid conveyance, and gas turbine engines. The Flexonics division serves markets with products for land vehicle emission control thermal management and industrial process control applications. Its Aerospace products include aerospace ducting, aerospace fabricated components, aerospace machined components, bellows and seals, couplings and valves, and hydraulic and fuel systems, among others. Its Flexonics products include automotive common rail, fuel cells, automotive drain tube and fabric expansion joints, among others.
Senior Plc designs, manufactures and markets technology components and systems. The company is headquartered in Rickmansworth, Hertfordshire and currently employs 5,664 full-time employees. The firm designs, manufactures and markets engineered, technology components and systems for principal original equipment producers in the aerospace and defense, land vehicle and power and energy markets across the world. The company operates through two divisions: Aerospace and Flexonics. The Aerospace division serves both the commercial aerospace and defense markets with a range of products and systems for structures, fluid conveyance, and gas turbine engines. The Flexonics division serves markets with products for land vehicle emission control thermal management and industrial process control applications. Its Aerospace products include aerospace ducting, aerospace fabricated components, aerospace machined components, bellows and seals, couplings and valves, and hydraulic and fuel systems, among others. Its Flexonics products include automotive common rail, fuel cells, automotive drain tube and fabric expansion joints, among others.
Profitability: Senior delivered improved profitability and robust free cash flow of £14 million despite a decrease in group revenue.
Balance Sheet: Net debt (excluding leases) fell to £79.9 million, a £50 million improvement, strengthening the balance sheet and reducing net debt to EBITDA to 1.9x.
Restructuring Benefits: Cost-saving initiatives delivered £50 million in annual savings—£14 million more than 2020—achieved a year ahead of plan.
Aerospace & Flexonics: Aerospace revenue declined (notably in civil aerospace, down 15%), but Flexonics grew 10%, driven by a 39% recovery in land vehicles.
Outlook & Guidance: Management expects good progress in 2022, with growth anticipated as demand recovers and multi-year recovery continues. Guidance and outlook remain unchanged.
Sustainability Leadership: Senior maintained sector-leading ESG performance with independently verified climate targets and strong social initiatives.
M&A & Strategy: The company continues to optimize its portfolio, with future M&A targeted at fluid conveyance and thermal management. Dividend payments expected to resume in 2022.
