Vesuvius (VSVS): Profit warning

This situation live

VSVS Vesuvius

£1,093m · 456.8p · +1% since the first step

27 Jul 2026 · profit warning · +16% since The operational issues, whilst temporary, are causing a greater impact than previously anticipated.

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Profit warning

profit warning

Directionbelow expectations / warning

Reaction on the day−13%

In 12 months1 statement in the same direction

Company's wordsThe operational issues, whilst temporary, are causing a greater impact than previously anticipated. ↗

As of 27 Jul 2026 ↗

Since Oct 2023: 661 situations of this kind; median share price +2% six months after they opened

DEC31 Next: Steel operational issues to be resolved by year-end in 66 days

Every step · 1

27 Jul 2026 profit warning – The operational issues, whilst temporary, are causing a greater impact than previously anticipated. ↗

What is happening

Vesuvius: Profit warning – profit warning. ['profit warning']

In short: On 28 May 2026 Vesuvius confirmed FY26 expectations with a stronger H2. On 27 July it cut guidance to profit slightly ahead of FY25. The 30 July results confirm H1 trading profit of £74.0m, flat at constant currency, with c.£6m lost in North America and c.£2m at Vizag. The company says the issues will be resolved by year-end.
Announced: 27 Jul 2026 · profit warning · -13% on the day
H1 profit: Trading profit £74.0m, (0.1%) at constant currency; includes a one-off tariff benefit received at end of June
FY26 guidance: Trading profit slightly ahead of FY25, constant currency; unchanged from 27 July
Causes: Steel operational issues; challenging Advanced Refractories market, especially Europe
Resolution: Expected by end of 2026; residual H2 impact depends on speed of fixes
North America impact: Estimated H1 lost profit c.£6m: substandard supplier raw materials, maintenance and capability gaps
India impact: Vizag plant ramp-up delay, estimated £2m H1 trading profit impact; third line to reach capacity in H2
Leverage: Net debt / EBITDA 1.9x pro-forma versus 2.0x at FY25

What comes next

Steel operational issues to be resolved by year-end (31 Dec 2026).

From the company's own announcements. Not investment advice.

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