24th Jan 2024 09:46
TI Fluid Systems PLC - Oxford, England-based company that designs and manufactures thermal management and fluid handling systems - Expects 2023 results to be "slightly ahead" of expectations. Revenue is anticipated at approximately EUR3.5 billion, up from EUR3.27 billion in 2022. Adjusted earnings before interest and tax margin expansion predicted at approximately 7.4%, driven by "commercial performance combined with cost reduction actions," it says. This compares to an Ebit margin of 5.5% in 2022. Looking ahead, the firm says it is well-positioned to capitalise on "opportunities of electrification while leveraging the strengths of our conventional portfolio to drive sustainable, profitable long-term growth."
Current stock price: 142.50 pence, up 2.1%
12-month change: up 22%
By Sabrina Penty, Alliance News reporter
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