Key Performance Indicators
Financial KPIs
Focused on growth and transformation to improve returns.
Organic sales growth |
+6.6%
|
| Definition: Sales growth measured at constant currency before the impact of M&A | |
| Target: 3-6% | |
| CAGR 2026-28 |
Adjusted operating margin |
17.4%
|
| Definition: Adjusted operating profit as percentage of sales | |
| Target: >20% | |
| for 2028 |
Performance: Adjusted operating margins improved by 20 basis points to 17.4% in the year. This improvement reflects increased volumes and improved asset utilisation at our 11 shared manufacturing sites, partly offset by adverse foreign exchange and price/mix. Operating margins should continue to improve as the benefits of our transformation programme and organic sales growth are delivered.
Free cash flow to sales |
9.5%
|
| Definition: Free cash flow as a percentage of sales | |
| Target: >12% |
|
| for 2028 |
Performance: Free cash flow was down 5% to £161.6m in the year, with growth in adjusted earnings and reduced capital expenditure offset by a working capital outflow, with the prior year benefiting from the settlement of a one-off Covid receivable. FCF as a percentage of sales was 9.5%, slightly below the 10.4% achieved in 2024.
Return on Invested Capital |
8.2%
|
| Definition: Adjusted operating profit after tax dividend by the average invested capital* | |
| Target: >10% | |
| for 2028 |
Performance: Return on Invested Capital increased to 8.2% in the year, reflecting increased profits and slightly lower invested capital. Having completed several large investment projects and undertaken extensive corporate development in recent years, we expect Return on Invested Capital to continue to improve as we deliver earnings growth and generate returns from these recent investments.
*Where invested capital represents net assets plus net debt, minus the net pension asset (net of deferred tax).
Non-financial KPIs
Delivering more than financial performance
Safety - Total Recordable Injury Rate |
0.61
|
| Definition: The number of incidents per 200,000 hours worked where a person has sustained an injury, including all lost time, restricted work and medical treatment cases. | |
| Target: Achieve a total recordable injury rate (TRIR) of 0.3 by 2026 |
Performance: Our headline TRIR increased to 0.61 in 2025 and represented a step back on our journey to improve safety across our facilities. Six of our manufacturing sites saw an increased number of recordable incidents, which represented 66% of the total injuries noted. Our EMEA region improved its performance over the year and finished with a 10-year low TRIR. Plans are in place to address performance across key sites, and overall to further engage the organisation and focus on continuous improvement.
Environment - Total scope 3 GHG emissions |
1,330,561 TCO₂e |
| Definition: Sum of corporate scope 3 FLAG and scope 3 E&I GHG emissions, as defined by SBTi and GHG Protocol. | |
| Target: 26.3% reduction by 2030 from our 2022 baseline, aligned with our verified Science-based target |
Performance: In 2025, total scope 3 GHG emissions rose due to sales volume recovery not yet fully decoupled from supply chain decarbonisation activities planned as part of the sustainability strategy refresh. Total scope 3 GHG emissions in 2025 are 6.4% lower than our 2022 baseline, driven in part by increases in sustainably sourced bio-based raw materials reducing our FLAG-related GHG emissions.
NPP |
35% of total Group sales
|
| Definition: New and Protected Products as a percentage of total sales | |
| Target: Growth of New and Protected Products at least in line with total organic sales growth. |
Performance: Sales of New and Protected Products increased by 5% at constant currency with new ingredient sales up 10%, patented sales up 9%, but protected sales only up slightly as product mix was impacted by our targeted action to increase utilisation at shared manufacturing assets, particularly in Crop Protection and Industrial Specialties. NPP sales were 35% of total sales (2024: 35%). Our innovation metrics are currently being reviewed to ensure alignment with our new innovation framework. For 2026, and in line with the associated remuneration measure, we are targeting organic growth in NPP sales, at least in line with total organic sales growth, to incentivise continued portfolio differentiation.
Customer NPS |
Employee NPS |
| Definition: Customer Net Promoter Score. Our customer satisfaction KPI is a Net Promoter Score based on a comprehensive customer survey. |
Definition: Employee Net Promoter Score (eNPS) We use continuous employee surveys to assess employee satisfaction which is measured as a percentage. |
| Performance: In 2025, NPS improved to +43 (2024: +32), based on ~3,500 responses, with increases in all three businesses. Our longer-term KPI for customer NPS is currently being developed. For 2026, and in line with the associated remuneration measure, we are targeting a further NPS increase for a subset of our larger customers where the data is most robust, and will ensure that the sample size continues to be representative. |
Target: eNPS score of +24 for full year 2028 Performance: Employee engagement is measured by a new tool. Our overall employee Net Promoter Score increased from +11 in March 2025 when the metric was introduced to +21 in December. We are targeting an eNPS score of +24 for full year 2028, ensuring that managers continue to prioritise engagement during a period of change for our employees as we deliver our transformation programme. |
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