TT Electronics
TTG · Main Market · Technology · mcap £331m · 186.0p 4 open situations →
- EV
- £385m
- EV / EBIT
- –
- Net debt
- £52.0m
- FCF yield
- 9.0%
- Revenue
- £472m
- Share price 1y
- +92%
- Insiders 12m
- sold £102k
- Next report
- around 24 Mar
TT Electronics designs and makes electronic components and contract-manufactured electronics for aerospace, defence, medical and industrial customers. It now reports in three regions: Europe, North America and Asia.
Open · 4
Disposal of Components business
Part of Turnaround plan – Delivering; 2026 profit guidance raised
Components strategic review of all four active sites was completed with the 25 March 2026 results; on 15 May the Board was still evaluating options. On 2 September 2026 it said it has tested market interest and received encouraging indications of interest. Any deal is subject to value; no buyer or price is named.
- Scope
- Strategic review covered all four active Components sites 25 Mar 2026 ↗
- Options
- Range of options including a potential disposal 25 Mar 2026 ↗
- Conditions
- Decision subject to value; no certainty as to outcome 2 Sep 2026 ↗
- Price
- Not stated 2 Sep 2026 ↗
- Buyer
- None named 2 Sep 2026 ↗
- Status
- Board evaluating a potential divestment; encouraging number of indications of interest (2 Sep 2026) 2 Sep 2026 ↗
Next: Decision on any Components transaction, subject to value
- 2 Sep 2026 Indications of interest received; no deal
- 15 May 2026 Options still under evaluation; no deal
- 25 Mar 2026 Strategic review complete; options being assessed
Turnaround plan
Includes Disposal of Components business – Indications of interest received; no deal
After the Cicor bid lapsed on 7 January 2026, the new CEO set four 2026 priorities. By 2 September 2026 the divisional realignment is implemented and the cost programme substantially completed. H1 adjusted operating profit rose 37.0% organically to £18.5m; the Board now expects 2026 profit ahead of consensus (£35.0m).
- Trading, four months
- Organic revenue down 4.8%; up 2.9% excluding transferred EMS customer and Plano 15 May 2026 ↗
- Book-to-bill
- 107%, largely Aerospace and Defence 15 May 2026 ↗
- Guidance
- 2026 adjusted operating profit ahead of consensus of £35.0m (range £32.6m-£38.5m) 2 Sep 2026 ↗
- H1 profit
- Adjusted operating profit £18.5m, +37.0% organic; margin 8.1%, +230bps 2 Sep 2026 ↗
- Cost savings
- About £3m net in 2026; more than £6m annualised from FY2027 2 Sep 2026 ↗
- Cash conversion
- Full year expected 70-80%; H1 42% 2 Sep 2026 ↗
Next: H2 delivery: organic revenue growth and cash generation
- 2 Sep 2026 Delivering; 2026 profit guidance raised
- 15 May 2026 Executing 2026 priorities; guidance unchanged
- 25 Mar 2026 Transition year done; 2026 priorities set
Profit upgrade
TT Electronics raised its guidance on 2 Sep 2026; the shares moved +11% on the day.
- 2 Sep 2026 guidance raised · +11% on the day
DBAY Advisors Limited towards control
DBAY Advisors Limited raised its stake in TT Electronics from 24.54% to 25.06% on 5 Feb 2026, crossing 25%.
- 5 Feb 2026 25.06%
Closed · 4
Company filings. Not investment advice.