Business
Results for the year ended 31 December 2019
Results for the year ended 31 December 2019.
About this update from Croda International Plc
[{"type":"text","content":"\n \n \n RNS Number : 9740D\n Croda International PLC\n 25 February 2020\n \n \n \n Press Release\n 25 February 2020\n \n Results for the year ended 31 December 2019\n Strong business model delivers resilient performance in subdued market conditions\n Croda International Plc (\"Croda\" or the \"Group\"), the speciality chemical company that creates high performance ingredients and technologies relied upon by industries and consumers globally, today announces its full year results for the year ended 31 December 2019.\n Highlights\n \n \n \n \n \n \n \n \n \n \n \n \n \n Full year ended 31 December\n \n \n \n \n \n Adjusted1 results\n \n \n \n \n \n \n 2019\n \n \n \n 2018\n \n \n % change\n reported rate\n \n \n % change\n constant rate2\n \n \n \n \n \n Sales - Core Business3\n \n \n \n \n £million\n \n \n \n 1,265.9\n \n \n \n 1,268.7\n \n \n \n \n (0.2)%\n \n \n \n \n (2.3)%\n \n \n \n \n \n \n Operating profit\n \n \n \n \n £million\n \n \n \n 339.7\n \n \n \n 342.5\n \n \n \n \n (0.8)%\n \n \n \n \n (1.8)%\n \n \n \n \n \n \n Profit before tax (PBT)\n \n \n \n \n £million\n \n \n \n 322.1\n \n \n \n 331.5\n \n \n \n \n (2.8)%\n \n \n \n \n (3.7)%\n \n \n \n \n \n \n Basic earnings per share (EPS)\n \n \n \n \n pence\n \n \n \n 185.0\n \n \n \n 190.2\n \n \n \n \n (2.7)%\n \n \n \n \n n/a\n \n \n \n \n \n \n Return on sales4\n \n \n \n \n %\n \n \n \n 24.7%\n \n \n \n 24.7%\n \n \n \n \n 0.0%pts\n \n \n \n \n n/a\n \n \n \n \n \n \n Free cash flow5\n \n \n \n \n £million\n \n \n \n 201.7\n \n \n \n 154.9\n \n \n \n \n +30.2%\n \n \n \n \n n/a\n \n \n \n \n Adjusted results\n \n · Resilient performance despite subdued market conditions\n \n o Core Business sales 2.3% lower and Group operating profit 1.8% lower (both in constant currency)\n \n o Robust margin maintained - return on sales unchanged at 24.7%\n \n o Strong cash conversion - free cash flow up 30.2% to £201.7m (2018: £154.9m)\n \n o New & Protected Product sales (NPP) flat at 28.1% of sales (2018: 28.2%) at constant currency\n Sector performance (sales in constant currency)\n \n · Excellent performance in Life Sciences, driven by strength of Health Care and Crop Protection platforms\n \n o \n Sales up 5.9%, supported by speciality excipients \n \n \n o Continued margin growth; return o...