Victrex is the world’s leading manufacturer of high performance polyaryletherketone materialsVictrex plc, a leading global manufacturer of high performance polymers, comprises two divisions: Victrex Polymer Solutions that focuses on transport, industrial and the electronics markets and Invibio Biomaterial Solutions that focuses on providing specialist solutions for medical device manufacturers.

Victrex Polymer Solutions specializes in the development and manufacture of high performance polyaryletherketones such as VICTREX® PEEK polymer, VICOTE® coatings, APTIV® films, and VICTREX Pipes™.

Invibio® Biomaterial Solutions provides access to highly specialized biocompatible PEEK-based materials and services for medical device manufacturers.With more than 30 years of experience, Victrex has a production, technology, customer service and distribution team that spans more than 30 countries worldwide.

We work directly with material processors and design engineers in a multitude of industries to help create new applications using Victrex polyketone materials. We help improve processing techniques and find ways to reduce overall costs with the goal to introduce competitive, innovative applications to the marketplace

http://www.victrex.com/en/index.php?setLang=1

Half yearly report

19 May Credit Suisse 2,400.00 Outperform

Ex dividend 11 Jun 2015 Victrex PLC (11.7 P)

upgrade - 7 Jul Numis 2,233.00 Add

Market Buzz

Victrex rallies as Liberum initiates stock at 'buy' following selloff

Wed, 30 September 2015




Victrex plc Quote more






Price: 1,772.00

Chg: 110.00

Chg %: 6.62%

Date: 16:55



FTSE 250 Quote


Price: 16,683.02 Chg: 240.53 Chg %: 1.46% Date: 17:14

(ShareCast News) - Shares in polymer solutions company Victrex rallied after Liberum initiated coverage of the stock at 'buy' with a 2,200p price target.
"We believe it is a great time to buy following a selloff in the shares year-to-date and the completion of a major investment programme that heralds a period of strong cash flow and further cash return potential of 200p," it said.

Victrex recently completed a major capacity expansion programme at its main production site in Lancashire which Liberum reckons provides sufficient headroom in powder and film manufacturing for the next decade.

The brokerage noted that Victrex shares were hit hard this year by concerns about rival capacity increases and trading risks.

Liberum said it believes Victrex and the industry are capable of sustaining high-single digit volume growth over the next five years driven by ongoing industrial and medical demand for lighter/stronger materials which are easy to process and manufacture.

As far as structural growth is concerned, Liberum pointed out that the 10-year compound annual growth rate has been 15%. The brokerage believes strong growth remains, with seven major new product platforms being commercialised and a total industry volume potential 9 times today's capacity.

At 1058 BST, Victrex shares were up 4.3% at 1,733p.

1 Oct Barclays... 2,300.00 Overweight

5 Oct Berenberg 2,230.00 Buy

Trading statement

Half year report

16 May Liberum Capital 2,200.00 Buy
16 May Peel Hunt 2,100.00 Buy

He who hesitates.............................DAMN! Ah well, there's always tomorrow!

17 May Numis 1,910.00 Buy
17 May Exane BNP... 1,500.00 Neutral
17 May JP Morgan... 1,450.00 Neutral
17 May Deutsche Bank 1,650.00 Hold
16 May Liberum Capital 2,200.00 Buy
16 May Peel Hunt 2,100.00 Buy

Broker Forecast - Liberum Capital issues a broker note on Victrex PLC

Liberum Capital today reaffirms its buy investment rating on Victrex PLC (LON:VCT) and set its price target at 2100p. Story provided by StockMarketWire.com

Trading Statement
RNS
RNS Number : 1617M
Victrex PLC
11 October 2016
 
 
                                            
 
11 October 2016
Victrex plc: Full year and pre-close trading update
'Improved second half; good finish to 2016'
Victrex plc, an innovative world leader in high performance polymer solutions, today releases its full year and pre-close trading update for the financial year ended 30 September 2016, ahead of its preliminary results on 6 December 2016.
In line with expectations, Victrex delivered an improved performance in the second half and a good finish to 2016.
The core business was in growth, with Aerospace and Automotive performing well, and a more stable performance in Oil & Gas during the second half. Sales volumes for the large Consumer Electronics business were delivered on plan during Q4, with overall second half volumes more than double those in the first half. Q4, overall, saw a good performance with Group revenue up 8% to £73.7m (Q4 2015: £68.0m) and Q4 Group sales volume up 9% to 1,216 tonnes (Q4 2015: 1,119 tonnes).
Despite a positive finish to 2016, full year Group revenue declined by 4% to £252.3m (FY2015: £263.5m), reflecting the year on year fall in Consumer Electronics volumes, which were more than 30% down. Full year Group sales volume was down 6% at 3,952 tonnes (FY 2015: 4,217 tonnes). 
Medical revenue (Invibio) for the full year of £50.8m (FY 2015: £50.5m) reflects a stable Spine market in the US. Growth outside of the US, in emerging markets, remains positive.
Our mega-programmes continue to make progress, with the Magma Oil & Gas project delivering first meaningful revenues of over £1m in FY16. Incremental investment opportunities aligned to our mega-programmes are also being progressed, which would further support delivery of the Group's downstream strategy and growth pipeline.
 
Outlook
 
As we start our new financial year, our core business remains robust. However, we remain mindful, as previously communicated, that our early planning assumption suggests Consumer Electronics volumes will be significantly lower in 2017, compared to 2016. This would also impact our operating leverage.
 
Whilst we will continue to invest in our 'front end' commercial, marketing and technical functions, to help drive adoption of our mega-programmes, we will also further enhance our ongoing focus on cost efficiency opportunities over the coming year.
 
With a differentiated strategy, a strong pipeline and a highly cash generative business model, Victrex remains in a good position to drive shareholder value for the medium to longer term.

11 Oct
N+1 Singer
1,730.00
Buy

11 Oct
Liberum Capital
2,100.00
Buy

11 Oct
Peel Hunt
1,900.00
Buy

Final results

Highlights:
 
•     Good finish to 2016
-    Core business in growth; improved second half with core volumes up 9% on H2 2015
-    Continued growth in Auto & Aero, Oil & Gas stable, Medical in-line
-    Consumer Electronics volumes >400 tonnes in H2 2016; remain cautious on  2017
-    Full year performance impacted by weaker H1 & lower overall Consumer Electronics
 
•     Good progress accelerating growth pipeline
-    Meaningful revenue of £1m+ for Magma Oil & Gas mega-programme
-    Gears accelerated; initial revenue from Auto development programmes
-    Trauma development agreement with major US medical device manufacturer
-    Over 1,000 patient implants for PEEK-OPTIMATM  HA Enhanced
 
•     Continued growth investment to further develop downstream strategy
-    Strategic investment  of minority interest in Magma Global for £10m
-    Composite manufacturing investments underpin Aerospace, Medical and Magma
·      New Trauma and Composite facilities  operational
-    Continued 'front-end' commercial investment; supported through focus on cost efficiency
 
•     Cash generation remains strong
-    Net cash up 19% to £64.0m
-    Final dividend of 35.09p (2015: 35.09p)

10:30 07/12/2016
Broker Forecast - Deutsche Bank issues a broker note on Victrex PLC
Deutsche Bank today reaffirms its hold investment rating on Victrex PLC (LON:VCT) and raised its price target to 1700p (from 1650p). Story provided by StockMarketWire.com

6 Feb Liberum Capital 2,245.00 Buy
6 Feb Peel Hunt 2,100.00 Add

AGM Statement

RNS


RNS Number : 2728W

Victrex PLC

08 February 2017














8 February 2017

Victrex plc

AGM and Q1 Interim Management Statement

'A solid start to 2017 - strong growth in core business'

Victrex plc, an innovative world leader in high performance polymer solutions, today releases its first quarter (Q1) Interim Management Statement ahead of its Annual General Meeting (AGM) being held today.

Victrex made a solid start to 2017, with a strong performance in the core business compared to a weak Q1 2016. Q1 2017 sales volumes in the core business (excluding Consumer Electronics) were 25% ahead of the prior year quarter, reflecting growth across Automotive, Aerospace, Energy & Industrial and Value Adding Resellers. Electronics, outside of the large Consumer Electronics order, also saw growth. Q1 2017 performance was offset by Medical, which was behind last year, principally due to phasing.

Overall, Q1 2017 Group revenue of £55.7m was broadly in line with the prior year (Q1 2016: £56.0m), with Q1 2017 Group volumes of 810 tonnes down 6% (Q1 2016: 860 tonnes). Q1 2017 performance reflected, as expected, the very limited volumes from the large Consumer Electronics order, compared to much stronger volumes in the prior year.

Victrex retains a highly cash generative business model, with no significant changes to its financial position since 30 September 2016.

Joint-venture to accelerate Aerospace Loaded Brackets mega-programme

Victrex is also announcing today that it is investing to help accelerate its Aerospace Loaded Brackets mega-programme, via a joint-venture with Tri-Mack Plastics, a proven partner for manufacturing semi-finished and finished parts within Aerospace.

The joint-venture, TxV Aerospace Composites, will focus on developing a new supply chain, with the capability to manufacture, at scale, unique and differentiated Loaded Brackets, blending new PEEK and PAEK polymer grades and composite materials. Victrex will have the majority share of the JV and total capital expenditure from Victrex is anticipated to be around £10m, spread over the next three years.

The Aerospace Loaded Brackets programme will utilise a differentiated and protectable solution, with an "over-moulded" bracket offering up to 60% weight saving compared to metals, as well as quicker manufacturing. This solution has multiple application opportunities, particularly within aircraft interiors. Following pre-qualification of this semi-finished product with major customers and initial prototype revenue during 2016, a new manufacturing facility in the US will offer the potential to capture significant growth opportunities. Industry projections suggest thermoplastic composites in Aerospace could increase to over 5000 tonnes by 2025-30, compared to the current 2000 tonnes (source: Composites World).

David Hummel, Chief Executive of Victrex, said: "This is an exciting acceleration opportunity which builds on our Kleiss and Magma investments and is in line with the Group's strategy to move further downstream into selected and differentiated semi-finished products.

"We will continue to pursue acceleration options across several of our mega-programmes, whether organically, through partnership or acquisition. Further strengthening and accelerating our growth pipeline remains a key priority for Victrex."







Outlook

At this early stage of the year and with our core business in growth, a continued focus on cost efficiency and a favourable currency environment, we remain comfortable with expectations for 2017.

Victrex will provide an update on its strategy and growth pipeline - 'Polymer to parts' - at a Capital Markets Day in London on Tuesday 28th March 2017

Acquisition
RNS
RNS Number : 7213B
Victrex PLC
06 April 2017
 
 
                                               
 
 
 
 
6 April 2017
 
Victrex plc
 
Acquisition of Zyex offers further downstream growth opportunities

Victrex plc, an innovative world leader in high performance polymer solutions, today announces that it has acquired UK based Zyex, which is recognised as a global leader in the manufacture of PEEK based fibres, principally for the Aerospace, Automotive and Industrial markets.  The acquisition was made for a cash consideration of £10m and offers further downstream growth opportunities in the developing fibre applications area.
The investment is in line with Victrex's downstream strategy and focus on selected semi-finished and differentiated products, based on PEEK and PAEK polymers. Zyex is a well-established and profitable business, based solely on PEEK products. Beyond opportunities from existing applications, the investment will also enable Victrex to explore the potential of 3D printing within the fibres area, building on its own 3D printing consortium announced in 2016.
David Hummel, Chief Executive of Victrex, said: "The acquisition of Zyex is compelling for Victrex, enabling us to not only drive future growth opportunities within well-aligned markets and developing application areas, but to also secure some incremental revenue today.
"Like Victrex, Zyex was formed out of ICI and the two companies coming together is a natural evolution. Whilst Zyex is well-established, Victrex's global reach, innovation focus and proven track record of building new markets offers an attractive opportunity to further develop the business over the coming years. This is in line with our strategy to offer selected and differentiated semi-finished product forms and parts for our customers, building on our core polymer offering."
Zyex had revenues of approximately £7m to 31 March 2016. The business employs 22 people at its manufacturing facilities in Gloucestershire, UK.