Page 1

30 April 2021 rotork Rotork Plc Trading update Activity continued to improve in the first quarter . COVID - 19 uncertainty remains Rotork plc ( " Rotork " ) , the global flow control and instrumentation group , today issues the following trading update covering the first quarter period from 1 January to 4 April 2021 ahead of its Annual General Meeting to be held later today . COVID - 19 update All our production facilities are currently open and operating at close to normal output levels . Several were however impacted by COVID - 19 closures early in the period . Whilst every effort is being made to keep our facilities open , we will not hesitate to close them if required or if we believe there is any risk to our colleagues or their families or friends . Trading update Performance in the period was in - line with our expectations . Order intake ( on an organic constant currency basis , " OCC " ) was mid - single digits below the 2020 comparator , which was only modestly affected by COVID - 19 . Revenue was up mid - single digits year - on - year on an OCC basis , in part reflecting the weighting of first half 2020 sales to the second quarter . Like many global businesses we are seeing elevated logistics costs and disruption to some supply routes as well as commodity cost escalation . In order to mitigate the higher logistics costs we introduced temporary surcharges on the most affected routes earlier this year . Commodity cost inflation is anticipated to be largely offset by our January price increase . Our Growth Acceleration Programme ( " GAP " ) is on track . We continue to see the benefits of our market re - alignment which was completed a year ago . Our investments in Rotork Site Services and in innovation and new product development are also yielding benefits . Our GAP priorities in 2021 include supply chain optimisation and our IT solutions roll - out . Rotork continues to be highly cash generative with a strong balance sheet and net cash of £ 190.8m at 4 April 2021 ( £ 178.1m at 31 December 2020 ) . The current cash position reflects the decision to pay the £ 54.9m dividend ( 6.3p per share ) in respect of 2020 in one payment ( on 21 May 2021 ) . We continue to strengthen our business and are well placed to benefit from recovering demand . Whilst the outlook for our end markets is improved , COVID - 19 related uncertainty remains . We remain committed to delivering sustainable mid to high single digit revenue growth and mid 20s adjusted operating profit margins over time . Rotork will publish 2021 half - year results on Tuesday 3 August 2021 . Enquiries : Rotork plc Kevin Hostetler , Chief Executive Jonathan Davis , Finance Director Andrew Carter , Investor Relations Director Tel : +44 ( 0 ) 1225 733 200