en.Wedoany.com Reported - The Weir Group PLC released its Q1 2026 trading update on April 30. Group orders increased by 4% year-on-year on a constant currency basis, with demand for large equipment projects showing accelerating momentum. Weir CEO Jon Stanton stated during a conference call: "Customers continue to prioritise productivity, debottlenecking and expansion projects at existing mine sites, while investing in technologies that enhance sustainability and reduce total cost of ownership. Demand for large equipment projects is accelerating. This quarter, we secured a £20 million order for GEHO pumps in India, further demonstrating our market-leading position in slurry transportation solutions."

Stanton also stated that Weir continues to gain market share through its technology leadership. "This quarter, we completed four mill circuit pump trials, three of which successfully converted to Warman pump orders. This further strengthens our strong competitive position and reflects customer recognition of the value in product performance, reliability, and total cost of ownership." This quarter, Weir also secured an order for a long-distance iron concentrate pipeline transport system in India, as well as its first two orders for vertical stirred mills. In the ESI aftermarket, mining orders grew 1% year-on-year, supported by solid run-of-mine production levels for commodities like copper and gold, along with the continued integration of Townley, though temporary mine operational disruptions in Asia Pacific and Africa partially offset growth in the quarter.

Weir stated that this quarter, the company began to benefit from the capacity optimisation projects completed in 2025, bringing cumulative savings from the "Performance Excellence Programme" to £66 million. "In addition to these run-rate savings, we continue to derive incremental benefits from lean management and work order management system activities, positioning us to achieve the upgraded cumulative savings target of £90 million for 2026. Given the significant acquisitions and debt refinancing undertaken in 2025, our focus this year remains on integrating these businesses and deleveraging the balance sheet."

ESCO delivered a strong performance this quarter, with original equipment orders up 49% year-on-year, driven by robust global demand for mining buckets. Aftermarket orders grew 11%, with contributions from GET and software solutions. "On the original equipment side, growth was driven by mining bucket orders in core mining regions such as North America, South America and Africa, as well as our first innovative Production Master bucket orders secured in the Asia Pacific region." Strong momentum in GET for mining and infrastructure (up 7%) and contributions from oil sands were partially offset by weak demand for dredging teeth due to the conflict in the Middle East.

Looking ahead to the full year, Weir stated that despite several challenges facing the mining industry, the company remains focused on disciplined execution of its strategy. "Activity levels in our core mining markets remain strong, and activity related to large projects is also accelerating. Combined with the continued growth of our software solutions and the remaining £30 million full-year benefit from the 'Performance Excellence Programme', we are on track to deliver growth in revenue, operating profit and operating margin on a constant currency basis for the full year, with free operating cash flow conversion maintained between 90% and 100%." Stanton announced he will step down as Chief Executive Officer on August 1, to be succeeded by Andrew Neilson, President of the Weir Minerals Division.

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