Strong Performance with Sales up 11% up over Q4 2024 and up 7% on Q1 2024.
Book-to-Bill stays positive at 1.10
Mass Transport and Data Processing both benefit from major projects
Headline results:
Order intake in Q1 of 2025 was the second highest since Q2 of 2022
There were some significant variations in market performance.
- Mass Transport up 71% (linked to key rolling stock & infrastructure projects)
- Data Processing saw a jump of 52% (on key datacentre projects).
- Mil/Aero up 24% (a significant increase over 2024 and highest since 2023)
- Distribution significantly up 21%
- Medical up 9%
- Communication down 9%
- Test & Msmnt down 14% (falling for two consecutive quarters)
- Broadcast down 16% (against a backdrop of significant 2024 spend).
So, we could be forgiven for thinking that everything was rosy. However, things have since been shaken by the significant tariffs being imposed by the US on the rest of the world, which is definitely not reflected yet in the available data.
However, we have already seen a significant increase in defence spending, reflecting both the continuing war in Ukraine and probably some pre-emptive spending anticipating that Europe is going to have to fend for itself more.
The second quarter will likely be a far more accurate picture of business levels for the near future and members are naturally extremely cautious.
Nevertheless, the level of RFP’s etc carried into 2025 has helped in holding up Q1 and with a current positive Book-to-Bill there are some faint signs of hope.
Download a full copy of the ITSA Report
ITSA Membership
Is your company in the UK interconnect supply-chain, but not yet an ITSA member?
If so, why not contact us to find out more about the excellent benefits of joining?
For further information: https://itsa.org.uk/
