Avon Technologies plc (AVON): Team Wendy DoW helmet ramp-up

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AVON Avon Technologies plc

£730m · £23.75 · +28% since the first step

12 Nov 2025 · Q4 output tripled; sustaining in H1 2026 · −11% until the next step In Q4, production tripled to meet this ramp-up requirement.

30 Jan 2026 · Slower Q1; shutdown delayed testing and deliveries · −13% until the next step Margin was also held back by the planned increase in investment ahead of ramping production rates in Q2.

13 May 2026 · IHPS and ACH at contract rates; testing backlog · +16% until the next step Production increased significantly in Q2, with both IHPS and ACH now delivering at the contractually agreed production rates.

26 Jun 2026 · New NG-IHPS delivery orders received · +1% until the next step Securing the highest share of both DLA and ACC delivery orders against competition is a strong endorsement of Team Wendy's product performance and improving operational execution.

29 Jul 2026 · Further DLA order received on ACH GEN II · +3% until the next step This follow-on order is a strong endorsement of the improvements we have made and reinforces our position on the ACH GEN II programme.

2 Sep 2026 · ACH GEN II option year at maximum volume · +20% until the next step Bringing the current option year to its maximum ordering volume demonstrates the confidence DLA has in our ability to manufacture and deliver ACH Gen II helmets to schedule.

7 Oct 2026 · Production stabilised; order book grown materially · +8% since In Team Wendy, production has stabilised at our target levels, contributing to a significant improvement in operating margin during the second half.

Segment turn

Team Wendy DoW helmet ramp-up

Production stabilised; order book grown materially

NOV10 Next: FY27 guidance at the full year results in 17 days

Every step · 7

12 Nov 2025 Q4 output tripled; sustaining in H1 2026 – In Q4, production tripled to meet this ramp-up requirement. ↗
30 Jan 2026 Slower Q1; shutdown delayed testing and deliveries – Margin was also held back by the planned increase in investment ahead of ramping production rates in Q2. ↗
13 May 2026 IHPS and ACH at contract rates; testing backlog – Production increased significantly in Q2, with both IHPS and ACH now delivering at the contractually agreed production rates. ↗
26 Jun 2026 New NG-IHPS delivery orders received – Securing the highest share of both DLA and ACC delivery orders against competition is a strong endorsement of Team Wendy's product performance and improving... ↗
29 Jul 2026 Further DLA order received on ACH GEN II – This follow-on order is a strong endorsement of the improvements we have made and reinforces our position on the ACH GEN II programme. ↗
2 Sep 2026 ACH GEN II option year at maximum volume – Bringing the current option year to its maximum ordering volume demonstrates the confidence DLA has in our ability to manufacture and deliver ACH Gen II... ↗
7 Oct 2026 Production stabilised; order book grown materially – In Team Wendy, production has stabilised at our target levels, contributing to a significant improvement in operating margin during the second half. ↗

What is happening

Avon Technologies plc: Team Wendy DoW helmet ramp-up – Production stabilised; order book grown materially. ['Production stabilised; order book grown materially']

In short: Team Wendy's DoW helmet ramp-up has been tracked since Nov 2025, when its order book had shrunk. Orders followed: over $40M NG-IHPS on 26 Jun 2026, $20.1M ACH GEN II on 29 Jul and $20.3M on 2 Sep, which took the option year to its maximum volume. The 7 Oct 2026 update says production has stabilised at target levels, the order book grew materially in H2 and H2 margin improved significantly.
Announced: 12 Nov 2025 · Q4 output tripled; sustaining in H1 2026
Latest: 7 Oct 2026 · Production stabilised; order book grown materially
Customer: Defense Logistics Agency (DLA)
Earlier orders: $20.1M DLA ACH GEN II order 29 Jul 2026; over $40M NG-IHPS orders 26 Jun 2026
Option year: Order fulfils the maximum volume authorized for the current option year
Production: Stabilised at target levels (update of 7 Oct 2026)
Order book: Grown materially in H2, including largest share of the NG IHPS order and strong ACH Gen II volumes
New orders: New US Air Force orders; Australian Defence Force programme renewed with initial annual order
Margin: Significant improvement in operating margin in H2
Next milestone: FY27 guidance with full year results on 10 November

What comes next

FY27 guidance at the full year results (10 Nov 2026).

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