Johnson Matthey Says Turnaround on Track as Cash Flow Jumps, Portfolio Shifts Advance

2 months ago 28

MarketBeat

Thu, July 16, 2026 astatine 7:02 AM CDT 6 min read

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Johnson Matthey said its turnaround remains connected track, with full-year results successful enactment with upgraded guidance and escaped currency travel rising much than 160% twelvemonth implicit year. Underlying operating nett besides increased, and the institution said it remains connected people to conscionable its 2027/2028 commitments.
The institution is making large portfolio changes, with the sale of Catalyst Technologies to Honeywell nearing completion aft receiving last China antitrust approval. At the aforesaid time, Johnson Matthey is advancing its caller PGM refinery successful Royston, which is expected to beryllium operational successful 2027.
Johnson Matthey besides announced a growth-focused acquisition of Cormetech, which should grow its stationary emissions-control concern and make cross-selling opportunities. Management said the woody strengthens its Clean Air level portion the committee plans to instrumentality GBP 200 cardinal per year to shareholders done dividends and buybacks.

Johnson Matthey (LON:JMAT) told shareholders astatine its 2026 Annual General Meeting that it remains connected way with its restructuring plans and medium-term commitments, portion highlighting advancement connected currency generation, portfolio changes and caller investments.

Opening the meeting, Chair Andy said his archetypal twelvemonth with the institution had been marked by "considerable change" arsenic Johnson Matthey works to simplify the business, sharpen its focus, amended execution and efficiency, and make much cash. He said the institution delivered a "solid performance" successful a challenging macroeconomic backdrop and met its revised operating fiscal commitments.

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The institution returned GBP 129 cardinal to shareholders during the year, Andy said. The committee is proposing a last dividend of GBP 0.55 per share, bringing the full dividend for the twelvemonth to GBP 0.77 per share, successful enactment with the anterior year.

Profit and currency travel amended

Chief Executive Liam Condon said Johnson Matthey delivered full-year show successful enactment with antecedently upgraded guidance for 2025/2026. He said underlying operating nett roseate 6% connected a reported ground and was up 14%, portion the Clean Air concern improved margins to the mid-teens.

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Condon said Hydrogen Technologies achieved run-rate breakeven, and the radical delivered a "very worldly step-up" successful escaped currency flow, with currency procreation up much than 160% twelvemonth implicit year. He said these outcomes reflected the company's absorption connected costs and cash, contempt challenges successful its PGM refining concern related to its U.K. and U.S. refineries.

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