Financial results and reports

Sales excluding precious metals

£3.9 billion

FY 2023/24

Underlying operating profit

£410 million

FY 2023/24

Underlying earnings per share

141.3p

FY 2023/24

Latest financial results - half year 2024/25

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A resilient performance with underlying operating profit excluding divestments down 4% – in line with our expectations – against a challenging macroeconomic backdrop
Improved margins in Clean Air and Catalyst Technologies, and on track for targets
Transformation programme continuing at pace – cumulative cost savings of £155 million delivered to date and on track to achieve £200 million by the end of 2024/25
Making progress against our strategic milestones: three large scale project wins in Catalyst Technologies’ sustainable technologies portfolio and PGM refinery investment on track
Strong balance sheet – net debt to EBITDA of 1.4 times: focused on driving improved cash
£250 million share buyback programme – £205 million completed as at 22nd November 2024
Full year outlook maintained, with performance more weighted to the second half driven by greater benefits from transformation and a stronger performance in PGM Services

“We delivered a resilient performance – in line with our expectations – and have continued to execute on our strategy in the first half, against a challenging macroeconomic backdrop. Our performance was supported by our transformation programme which is progressing well. For the full year, we are maintaining guidance with our confidence in the second half underpinned by further transformation benefits."

“We are strongly focused on cash generation, with our established businesses driving cash to support the disciplined development of our growth businesses and further shareholder returns. Johnson Matthey has an important role to play in the global transition to net zero and our portfolio means we are well positioned to adapt to the evolving pace of this transition. We continue to secure important project wins in sustainable technologies, whilst building our capability and transforming at pace.”