Bodycote plc Trading Update For January 1, 2022 – April 30, 2022

Bodycote, the world’s largest commercial heat treater, just announced their trading update for January 1 to April 30, 2022.  Overall, Bodycote posted a revenue of £230m which is up 12%. Some of the highlights from the report are below along with a link to the full report which includes more detail.

“Automotive revenues were down 7% against the relatively strong performance of automotive markets in the early part of 2021. The operating environment for automotive producers continues to be challenging, as OEMs strive to increase production but are held back by raw material and maintenance part shortages, which in turn lead to volume declines. 

General industrial revenues (including energy) were up 21%. The sector benefited from continued capital investment in a number of markets that make up this sector. 

Aerospace & defence revenues were 18% higher as the civil aerospace business continued to grow strongly, but revenues remained 25% below 2019’s levels, despite the price increases and energy surcharges. 

Emerging market revenues were up 18%, driven by strong growth in Eastern Europe, although China revenues declined in April as a result of Covid-related plant shutdowns of our RESTRICTED facilities. These are also impacting the business in May. Mexico, which largely supplies into customers serving the US automotive market, registered a low single-digit revenue increase. Specialist Technologies’ revenues grew 12% against a very strong period last year. It is worth noting that since our Specialist Technologies are less energy intensive processes, the contribution to revenues from energy surcharges was lower.”

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