Performance Carbon

The Performance Carbon segment of Morgan Advanced Materials leverages the versatility of carbon, graphite and silicon carbide materials for mission critical applications.

Our Performance Carbon business specialises in developing and manufacturing cutting edge products that deliver outstanding performance.

Our expertise drives innovation, helping our customers achieve exceptional performance and efficiency.

Our products and technologies are used to enable EVs to charge faster and drive longer, to maximise the efficiency of wind turbines, to support power generation across the world, and to deliver water to drought affected regions. Our products for the security and defence sector help protect lives on land and in the air.

We benefit customers by maximising performance, efficiency, reliability and durability of our customers’ products in aerospace & defence, rail, energy generation, and oil & gas.

Performance in 2025

Performance Carbon was heavily impacted by the well publicised conditions within the semiconductor market and in total the division delivered revenue of £306.8 million, an 8.9% decline versus the prior year on an organic constant currency* ‘(OCC’) basis. 

Lower semiconductor sales drove the year-on-year decline, although we note that revenue has stabilised in the second half of the year. Across other markets, the business has demonstrated a resilient revenue performance. The business saw a smaller decline in aerospace & defence sales which reflects the timing of some large defence orders which are now expected in 2026. This was largely offset by increased demand in rail and energy markets.

Performance Carbon delivered an adjusted operating profit* margin of 13.4%, a 260 bps decrease compared to the prior year. The impact of lower volume and an adverse sales mix was partially offset by substantial gains from efficiency and simplification initiatives. Margin was further supported by £5.2 million of trading receipts that will not repeat in 2026.