TT Electronics (TTG): Turnaround plan
This situation live
TTG TT Electronics
25 Mar 2026 · Transition year done; 2026 priorities set · +8% until the next step
We enter the new financial year with a clearer strategic direction and a stronger platform for growth, underpinned by our four priorities of divisional realignment, cost reduction, sales transformatio
15 May 2026 · Executing 2026 priorities; guidance unchanged · +27% until the next step
The Group continues to make good progress against the four strategic priorities outlined at the full year results in March.
2 Sep 2026 · Delivering; 2026 profit guidance raised · +24% since
Board now expects 2026 full year adjusted operating profit to be ahead of current market expectations.4
Turnaround plan
Delivering; 2026 profit guidance raised
Next: H2 delivery: organic revenue growth and cash generation
Every step · 3
- 25 Mar 2026 Transition year done; 2026 priorities set – We enter the new financial year with a clearer strategic direction and a stronger platform for growth, underpinned by our four priorities of divisional... ↗
- 15 May 2026 Executing 2026 priorities; guidance unchanged – The Group continues to make good progress against the four strategic priorities outlined at the full year results in March. ↗
- 2 Sep 2026 Delivering; 2026 profit guidance raised – Board now expects 2026 full year adjusted operating profit to be ahead of current market expectations.4 ↗
What is happening
TT Electronics: Turnaround plan – Delivering; 2026 profit guidance raised. ['Delivering; 2026 profit guidance raised']
- In short
- 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).
- Announced
- 25 Mar 2026 · Transition year done; 2026 priorities set
- Latest
- 2 Sep 2026 · Delivering; 2026 profit guidance raised
- Trading, four months
- Organic revenue down 4.8%; up 2.9% excluding transferred EMS customer and Plano
- Book-to-bill
- 107%, largely Aerospace and Defence
- Guidance
- 2026 adjusted operating profit ahead of consensus of £35.0m (range £32.6m-£38.5m)
- Next milestone
- Interim results on 2 September 2026
- H1 profit
- Adjusted operating profit £18.5m, +37.0% organic; margin 8.1%, +230bps
- Cost savings
- About £3m net in 2026; more than £6m annualised from FY2027
- Cash conversion
- Full year expected 70-80%; H1 42%
- Order intake
- Book-to-bill 112% in H1
What comes next
H2 delivery: organic revenue growth and cash generation.
Briefing
TT Electronics in 4 minutes
TT Electronics designs and makes sensors, power electronics and contract-built circuit boards for aircraft, defence, healthcare and industrial customers. In 2024 and 2025 it issued a profit warning, wrote down its...
- Act 1A 12% margin target and a sale
- Act 2North America breaks the plan
- Act 3New chief executive, Plano closed, Cicor bid rejected
From the company's own announcements. Not investment advice.
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