AGM & Q1 Trading Update

Avon Technologies plc issues a trading update for the first quarter of the 2026 financial year ("Q1"), ahead of the Group's Annual General Meeting ("AGM"), which will be held at its Melksham facility at 10:30am today.

Avon Protection has continued its positive momentum with a record start to the year supported by sustained demand for our CBRN (Chemical, Biological, Radiological, and Nuclear) protection products, good operational gearing and a healthy order book and sales pipeline.

Team Wendy maintains a strong order book but saw a slower first quarter. The U.S. government shutdown delayed product testing and deliveries, which contributed to lower‑than‑expected Department of War and federal revenue in Q1. Margin was also held back by the planned increase in investment ahead of ramping production rates in Q2. Assuming no further extended government shutdowns, we expect these impacts to be temporary, with higher revenue, unwind of higher inventories and improved operational gearing expected over the remainder of the year.

At the Group level, we continue to anticipate full year performance consistent with the guidance provided at FY25 results in November, underpinned by continued robust demand for the Group's protective technologies.

Jos Sclater, Chief Executive Officer, commented:

"The first phase of our strategy to enhance operational performance through continuous improvement continues to deliver a stronger, more sustainable business. While there is still a lot to do to improve operational efficiency and productivity in our Cleveland facility, the momentum and capability we have built in our people is clear, we are making progress.

Having stabilised, strengthened and transformed Avon over the last three years, 2026 will see an increased focus on the growth stage of our strategy. We are investing across key programmes and new products that will strengthen our competitive position and expand our addressable markets. We are already seeing some promising early results.

We remain on track to meet or exceed our FY26 financial targets and look forward to sharing the next phase of our strategic development alongside our Interim and Full Year results."

AGM Presentation and Interim Results date

A presentation covering our recent continuous improvement activities and product innovation will be held at the AGM and will be available on our website later today: www.avon-technologiesplc.com

Avon will report Interim Results for the six months ending 31 March 2026 on 13 May 2026.