Why we win

We win by combining empowered people, continuous improvement, and world‑leading IP with deep engineering and manufacturing expertise to deliver certified, future‑ready protection.

Our ambition is to be the leading military and law enforcement PPE specialist.

  • A proven Business Improvement System that empowers employees, turns ambition into action, strategy into results and values into everyday behaviours.
  • A continuous Improvement culture that is driving consistently high returns over our 17% medium-term target
  • A strong competitive moat with world leading intellectual property and certified technology.
  • Deep manufacturing capability and material science skills driving our culture of innovation and quality.

We invest in research, design, and engineering to deliver solutions that anticipate tomorrow’s challenges.

From advanced composites to cutting-edge protective systems, we combine science and creativity to keep people safe.

A business model flow chart titled "How we generate value," showing a three-step process from "Investment" to "A winning business," resulting in "Happy customers, employees, suppliers and shareholders."

Medium-term targets

2025 Annual Report

Growth:

≥5%

revenue CAGR

Adjusted operating margin:

14-16%

ROIC:

>17%

(currently above our goal)

Cash conversion:

80-100%

Leverage:

1-2x

net debt/EBITDA (currently below 1x)