Johnson Matthey PLC on Tuesday said that it was seeking high single-digit percentage sales growth in the short term and mid-teens growth in medium to long-term for its Catalyst Technologies business.

Johnson Matthey, a London-based speciality chemical firm, said that alongside its core catalyst business, it had a pipeline of over 100 large-scale sustainable technology projects and an addressable market worth around £6.50 billion across low carbon hydrogen and sustainable aviation fuel.

Catalyst Technologies is one four core sectors for Johnson Matthey. It makes high-value speciality catalyst, additives and license process solutions in the methanol, ammonia, and hydrogen markets. This sector is important in ‘creating significant growth opportunities’ through the energy transition for Johnson Matthey, it said.

By the end of financial 2025, the company expects Catalyst Technologies to have an underlying operating margins returning to mid-teens, and to high-teens by the end of financial 2028.

Johnson Matthey said it expects continued additional income over the long-term as the licensing in its portfolio increases.

‘We expect strong growth in operating performance for Catalyst Technologies. This reflects an improvement in licensing income and a significant uplift in margins, benefiting from pricing and efficiencies,’ the company had said at the time of its financial 2023 results back in May.

Johnson Matthey said it will provide ‘greater insight’ into the role of the Catalyst Technologies business plays in the energy transition at its seminar for investors and analysts being held on Tuesday.

Shares in Johnson Matthey were up 0.7% at 1,699.00 pence in London on Tuesday morning.

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