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BOY

Bodycote

Industrial Engineering

Index
FTSE 250
ISIN
Not specified
Book status
2026 edition — current
01

Company summary

Bodycote is a global provider of thermal-processing and specialist surface-treatment services. Its processes improve the strength, durability and performance of components used in aerospace, defence, automotive, energy and industrial applications.

02

Key activities

Heat treatment, hot isostatic pressing, surface technology, specialist coatings and other thermal-processing services for manufacturers of high-value metal components.

03

Key markets

North America and Europe are the largest regions, serving aerospace and defence, automotive, energy and general industrial customers. Aerospace and defence have become increasingly important growth markets.

04

Key drivers

Aerospace and defence production, industrial volumes, pricing, capacity utilisation, energy costs, operational efficiency, acquisitions and demand for outsourced specialist processing.

05

Key risks

Industrial downturns, automotive weakness, energy and labour costs, customer production delays, acquisition integration, environmental compliance, currency movements and uncertainty created by takeover approaches.

06

Recent Developments

5 August 2026: Bodycote disclosed competing private-equity approaches, with CVC indicating up to 915p per share and Veritas 914p; the Board said it was minded to recommend either if a firm offer emerged. Interim results had shown improved profitability.

07

Dividend notes

Pays interim and final dividends. The 2025 final dividend of 16.1p went ex-dividend on 30 April 2026 and was paid on 11 June. The 2026 interim is 7.2p, ex-dividend 1 October and payable 5 November.

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