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      "text": "Flat sales with material surcharges and inflation recovery; volumes down 5%\nStrong operational performance driving higher profits and improved profitability despite lower volume\nGood progress in electrification with new EV component wins and eMagnet development",
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      "text": "Sales growth of 9%, boosted by material surcharges and inflation recovery; volumes up 4% on 2021\n38% increase of operating profit, margins up 130bps to 5.9% as benefits from business improvements are realised\nVery strong bookings - over £5 billion, book-to-bill ratio 128%, pure EVs at 42% of bookings",
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      "text": "Strong cash generation from disciplined working capital management\nHydrogen business in start-up phase with a healthy commercial pipeline and operating pilots across the globe",
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      "text": "1. Comprises the Automotive, Powder Metallurgy and Hydrogen businesses\n2. Described in the glossary to the Preliminary Announcement and considered by the Board to be a key measure of performance",
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