Delivering Critical Connections

Revenue declined against a strong comparative with customers who had built up buffer stock in the prior year, taking the opportunity to reduce inventory as supply chains stabilised.

FY2024 demand from Consumer Electricals customers reduced due to the normalisation of consumer demand and customer destocking. Moderate recovery in demand has occurred in H2 of FY2024.

As supply chains have stabilised, the improved availability of components, which previously limited our customers’ output, has enabled them to effectively address their substantial backlogs.

The acquisition of Murat Ticaret has enabled Volex to achieve immediate scale in a fifth growth market. Off-Highway products, previously sold in North America and Asia, reported under Consumer Electricals and Complex Industrial Technology, are now realigned to the new sector.