Goodwin Plc (GDWN): FY2026 profit guidance

This situation live

GDWN Goodwin Plc

£1,069m · £143.40 · −7% since the first step

27 Oct 2025 · Guidance given, first ever · −7% until the next step The Group does not ordinarily provide forward guidance and does not intend to change this long-standing policy.

16 Dec 2025 · Guidance of above £71m reiterated at interims · −37% until the next step The Board continues to expect full-year profitability to be above £71 million.

23 Mar 2026 · Trading in line with October expectations · +73% until the next step It is encouraging that the Group's trading performance remains in line with expectations, as outlined in the October 2025 trading update.

7 Aug 2026 · Review commenced; sale discussions ongoing, no certainty · −11% until the next step Discussions are ongoing and there can be no certainty that a transaction will be entered into.

28 Aug 2026 · Active sale process, talks with several parties · −19% until the next step The disposal process is being actively pursued in accordance with the Board's approved plan, which targets completion within the next twelve months, and shareholders will be kept informed of material

9 Sep 2026 · Advanced talks with Cerberus funds, no deal agreed · −11% until the next step Discussions are ongoing and there can be no certainty that a transaction will be entered into, nor as to its terms.

9 Sep 2026 · Agreed; option deed signed, awaiting conditions · −11% until the next step The Transaction is expected to complete in the first quarter of 2027, subject to the receipt of customary regulatory approvals and completion of an internal reorganisation.

30 Sep 2026 · Agreed; awaiting regulatory approvals, completion Q1 2027 · +8% since As previously announced, completion is expected in the first quarter of calendar year 2027, subject to the required regulatory approvals.

Disposal of a part (break-up)

FY2026 profit guidance

Agreed; awaiting regulatory approvals, completion Q1 2027

Next: Regulatory approvals and completion

Every step · 8

27 Oct 2025 Guidance given, first ever – The Group does not ordinarily provide forward guidance and does not intend to change this long-standing policy. ↗
16 Dec 2025 Guidance of above £71m reiterated at interims – The Board continues to expect full-year profitability to be above £71 million. ↗
23 Mar 2026 Trading in line with October expectations – It is encouraging that the Group's trading performance remains in line with expectations, as outlined in the October 2025 trading update. ↗
7 Aug 2026 Review commenced; sale discussions ongoing, no certainty – Discussions are ongoing and there can be no certainty that a transaction will be entered into. ↗
28 Aug 2026 Active sale process, talks with several parties – The disposal process is being actively pursued in accordance with the Board's approved plan, which targets completion within the next twelve months, and... ↗
9 Sep 2026 Advanced talks with Cerberus funds, no deal agreed – Discussions are ongoing and there can be no certainty that a transaction will be entered into, nor as to its terms. ↗
9 Sep 2026 Agreed; option deed signed, awaiting conditions – The Transaction is expected to complete in the first quarter of 2027, subject to the receipt of customary regulatory approvals and completion of an internal... ↗
30 Sep 2026 Agreed; awaiting regulatory approvals, completion Q1 2027 – As previously announced, completion is expected in the first quarter of calendar year 2027, subject to the required regulatory approvals. ↗

What is happening

Goodwin Plc: FY2026 profit guidance – Agreed; awaiting regulatory approvals, completion Q1 2027. ['Agreed; awaiting regulatory approvals, completion Q1 2027']

In short: Strategic review began 7 Aug 2026; sale of GSC, GI, Noreva, Easat and Pumps to a Cerberus affiliate for up to about £1.1bn cash agreed on 9 Sep 2026. The 30 Sep update confirms completion in Q1 2027 pending regulatory approvals and that no UK corporation tax is expected on the gain. Training School transfers with the sale.
Announced: 27 Oct 2025 · Guidance given, first ever
Latest: 30 Sep 2026 · Agreed; awaiting regulatory approvals, completion Q1 2027
Business sold: Goodwin Steel Castings, Goodwin International, Noreva, Easat Group, Pumps; Goodwin Engineering Training School also transfers
Adviser: N.M. Rothschild & Sons Limited acting for Goodwin
Buyer: Affiliate of Cerberus
Timetable: Completion expected in first quarter of calendar year 2027, subject to regulatory approvals
Use of money: Significant proportion of net cash proceeds to shareholders; quantum, timing and form at Board discretion; update in due course
Price: Headline cash up to approximately £1.1 billion, subject to customary closing adjustments
Conditions: Internal reorganisation into Newco; antitrust, foreign direct investment and other regulatory approvals
Tax: No UK corporation tax expected on the disposal gain at Company level

What comes next

Regulatory approvals and completion.

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