5th Nov 2025 09:32
(Alliance News) - Weir Group PLC on Wednesday reported a rise in group orders driven by "positive activity" in the company's core mining markets.
The Glasgow-based engineering company said group orders rose 2% for the three months ended September 30.
Group OE orders decreased by 21% during the quarter, which Weir said reflected the "exceptionally strong" comparative with a year before.
With the exclusion of the large orders a year before, the OE orders grew by 15% driven by growth in brownfield projects across extraction and the mill circuit.
Group AM orders grew by 10%, driven by underlying organic growth from spare parts and expendables, as well as growth delivered by the acquisitions of Micromine and Townley.
For minerals, OE orders were down 24% from a year ago, attributed again to the GBP48 million Reko Diq and OCP orders the prior year.
Minerals AM orders rose by 5%, supported by "expanding installed base and favourable production trends in key mining end markets, particularly gold and copper."
ESCO OE orders grew 36%, driven by demand for mining attachments, while AM ESCO orders grew 21% due to growth in core GET and Motions Metrics products alongside Micromine.
Weird said overall activity in mining markets "remain positive" driven by demand in its commodity exposures of copper, gold and iron ore.
For the full year, Weir backed its guidance for growth in constant currency revenue and operating profit, with operating margins of approximately 20% and delivery of free operating cash conversion of 90% to 100%.
Weir said it will continue to watch macro events which could impact the business, noting "elevated levels of uncertainty related to critical metals disputes and further tariffs between the US and China".
Chief Executive Jon Stanton said: "Our performance in the third quarter reflects positive activity in our core mining markets. Demand for brownfield and debottlenecking solutions is driving healthy order momentum for original equipment across both divisions. As customers maximise production to capitalise on metals demand, good underlying aftermarket activity has been enhanced by further installed base conversion and a strong contribution from recent acquisitions."
"Looking forward to the fourth quarter, despite a number of challenges facing the mining industry, not least continued uncertainty on the outcome of tariff negotiations, we remain focused on disciplined execution against our strong orderbook. We reiterate our 2025 guidance for growth in constant currency revenue and operating profit, together with delivery of our margin and cash conversion targets", Stanton added.
Shares in Weir fell 3.0% to 2,794.00 pence on Wednesday morning in London.
By Roya Shahidi, Alliance News reporter
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