Group Financial Overview
| |
FY2020 |
FY2021 |
FY2022 |
FY2023 |
FY2024 |
FY2025 |
H12026 |
| Group Income Statement – continuing operations |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
| Revenue |
303.3 |
302.8 |
379.2 |
448.9 |
437.0 |
422.9 |
216.4 |
| Adjusted operating profit |
30.8 |
30.8 |
41.4 |
51.8 |
57.2 |
60.5 |
30.2 |
| Adjusted profit before tax |
26.5 |
27.2 |
37.6 |
46.3 |
48.2 |
50.1 |
25.5 |
| Profit before tax |
13.2 |
13.5 |
17.1 |
29.1 |
22.2 |
32 |
17.6 |
| Adjusted diluted EPS (p) |
24.4 |
22.4 |
29.4 |
35.2 |
36.8 |
38.7 |
13.5 |
| Dividend per share (p) |
2.97 |
10.15 |
10.8 |
11.45 |
12.00 |
12.5 |
4.05 |
| |
|
|
|
|
|
|
|
| Group Statement of Financial Position |
£m |
£m |
£m |
£m |
£m |
£m |
£m |
| Net debt |
(61.3) |
(47.2) |
(30.2) |
(42.7) |
(104.0) |
(94.3) |
(90.7) |
| Non-current assets |
236.4 |
244.6 |
326.5 |
335.9 |
381.0 |
396.9 |
390.7 |
| Net assets |
200.5 |
208.4 |
290.4 |
303.6 |
301.6 |
308.0 |
313.3 |
1. The figures in the Group Income Statement have been restated to reflect the disposals of Acal BFi distribution business and Vertec SA in FY2022.
2. The figures for FY2020 onwards include the impact of the adoption of IFRS 16.
3. The figures for FY2024 also exclude the Santon solar business unit.
Key Strategic Indicators
| |
FY15 |
FY16 |
FY17 |
FY18 |
FY19 |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
FY25 |
H126 |
Targets |
| Adjusted operating margin |
4.9% |
5.7% |
5.9% |
6.3% |
7.0% |
8.0% |
10.2% |
10.9% |
11.5% |
13.1% |
14.3% |
14.0% |
17% 2 |
| Sales growth (CER) |
36% |
14% |
6% |
11% |
14% |
8% |
1% |
28% |
15% |
1% |
(2%) |
4% |
Well ahead of GDP through cycle |
| Sales growth (organic) |
9% |
3% |
-1% |
11% |
10% |
5% |
4% |
18% |
10% |
(1%) |
(7%) |
1% |
| Adjusted EPS growth |
31% |
10% |
13% |
16% |
22% |
11% |
14% |
21% |
20% |
5% |
5% |
6% |
>10% |
| Operating cash flow conversion |
104% |
100% |
136% |
85% |
93% |
106% |
141% |
101% |
94% |
105% |
103% |
102%4 |
>85% of Adjusted operating profit |
| Free cash flow conversion |
|
|
|
78% |
94% |
104% |
136% |
77% |
95% |
103% |
106% |
104%4 |
>85% of Adjusted net profit |
| ROCE3 |
12.0% |
11.6% |
13.0% |
13.7% |
15.4% |
16.0% |
14.5% |
14.7% |
15.9% |
15.7% |
15.8% |
15.4% |
>15% |
| Carbon emissions Scope 1&2 reduction5 |
|
|
|
|
|
|
|
|
35% |
47% |
59% |
c.63% |
65% by CY25 |
1. Figures for FY15 to FY20 are for total operations before disposals as reported at the time.
2. By FY30.
3. ROCE is defined as adjusted operating profit from continuing operations, including the annualisation of profits of acquired businesses, as a percentage of net assets excluding net debt, deferred consideration related to discontinued operations and legacy defined benefit pension asset/(liability).
4. Last 12 months.
5. Cardbon emissions are measured on a calendar year basis (e.g. CY22 shown as FY23). Target is for absolute reduction of 65% by CY25 from CY21 with net zero by CY30.