Business
Full year results for year ended 31 December 2023
Full year results for year ended 31 December 2023.
About this update from Bodycote Plc
[{"type":"text","content":"\n\n\n \nBodycote plc\nFull year results for year ended 31 December 2023\n \n\"Another year of strong growth and margin progression\"\n \nFinancial summary\n\n\n\n\n\n\n\n2023\n\n\n \n\n\n2022\n\n\nGrowth Constant\nCurrency\n\n\nGrowth\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n£802.5\n\n\nm\n\n\n\n\n\n£743.6\n\n\nm\n\n\n8%\n\n\n8%\n\n\n\n\nHeadline operating profit1\n\n\n£127.6\n\n\nm\n\n\n\n\n\n£112.2\n\n\nm\n\n\n17%\n\n\n14%\n\n\n\n\nHeadline operating margin1\n\n\n15.9\n\n\n%\n\n\n\n\n\n15.1\n\n\n%\n\n\n\n\n\n+80 bps\n\n\n\n\nHeadline operating margin excluding surcharges1\n\n\n17.3\n\n\n%\n\n\n\n\n\n16.1\n\n\n%\n\n\n\n\n\n+120bps\n\n\n\n\nFree cash flow1\n\n\n£122.5\n\n\nm\n\n\n\n\n\n£84.0\n\n\nm\n\n\n\n\n\n46%\n\n\n\n\nBasic headline earnings per share1,2\n\n\n48.4\n\n\np\n\n\n\n\n\n42.7\n\n\np\n\n\n\n\n\n13%\n\n\n\n\nFull year ordinary dividend per share\n\n\n22.7\n\n\np\n\n\n\n\n\n21.3\n\n\np\n\n\n\n\n\n7%\n\n\n\n\nReturn on capital employed1\n\n\n14.8\n\n\n%\n\n\n\n\n\n13.3\n\n\n%\n\n\n\n\n\n+150 bps\n\n\n\n\n \nAdditional statutory measures\n\n\n\n\n\n\n\n\n2023\n\n\n \n\n\n2022\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n£119.2\n\n\nm\n\n\n\n\n\n£102.0\n\n\nm\n\n\n\n\nOperating margin\n\n\n14.9\n\n\n%\n\n\n\n\n\n13.7\n\n\n%\n\n\n\n\nProfit after tax\n\n\n£86.8\n\n\nm\n\n\n\n\n\n£74.3\n\n\nm\n\n\n\n\nNet cash from operating activities\n\n\n£191.6\n\n\nm\n\n\n\n\n\n£142.9\n\n\nm\n\n\n\n\nBasic earnings per share\n\n\n45.1\n\n\np\n\n\n\n\n\n38.6\n\n\np\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nHighlights\nFinancial Performance\n§ Revenue up 8% to £802.5m. Growth of 6% excluding energy-related surcharges\n§ Headline operating profit of £127.6m, 17% higher at constant currency\n§ Headline operating margin of 15.9%, up 80bps; 17.3% excluding surcharge revenue, up 120bps\n§ Headline basic EPS2 growth of 13% to 48.4p\n§ Return on capital employed1 up 150bps to 14.8%\n§ Free cash flow improved by £38.5m to £122.5m1\n§ Full year dividend per share of 22.7p, up 7%; 36-year record of growing or maintaining the dividend\n \nKey Achievements\n§ Revenue growth led by Specialist Technologies, up 12% excluding surcharges3\n§ Strong performance in aerospace, oil & gas and medical markets\n§ 4% reduction in absolute energy consumption, notwi...