Volex plc (LSE:VLX) delivered a robust third-quarter performance, with group revenue reaching $902.7m for the nine months to 31 December 2025, representing organic constant-currency growth of 14.8% year on year. The outturn was driven primarily by strong demand within Complex Industrial Technology, particularly from data centre customers increasing investment in AI and digital infrastructure.
Additional organic growth was recorded across electric vehicles and off-highway markets. Medical and consumer electricals were comparatively softer versus the prior year, reflecting customer destocking and weaker appliance demand in Europe. Despite this mixed end-market backdrop, underlying operating margins remained at the upper end of Volex’s 9–10% target range, supported by disciplined pricing, efficiency improvements and tight cost control.
Balance sheet strength continued to improve, with net debt reduced further and covenant leverage falling to around 1.0x. Management said this provides ample capacity to invest in additional production capability, automation, vertical integration and selective bolt-on acquisitions.
Given the trading momentum and good visibility into the year end, the board now expects both full-year revenue and underlying operating profit to exceed current market expectations. The update reinforces Volex’s exposure to structurally attractive growth sectors and underpins confidence in its five-year growth strategy and long-term value creation plans.
More about Volex plc
Volex plc is a UK-headquartered integrated manufacturer specialising in mission-critical power and data connectivity solutions. The group serves global blue-chip customers across electric vehicles, consumer electricals, medical, complex industrial technology and off-highway markets, operating 25 manufacturing facilities with around 13,000 employees worldwide to support increasingly data-intensive and electrified applications.
Leave a Reply