Solid State - H1 trading in line; guidance unchanged

Management's strategy is to increase Solid State's internal capabilities, enabling greater product differentiation and value added, particularly in the Systems business. This is expected to increase the addressable market and growth along with offering higher returns, key to the margin target of 12% (FY25 expectation c 8%). Achieving this through organic and inorganic means underpins management's 20% CAGR target for shareholder returns.

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