Business
Final Results
Final Results.
About this update from Essentra Plc
[{"type":"text","content":"\n \n \n RNS Number : 4261E\n Essentra plc\n 28 February 2020\n \n \n \n \n \n \n \n \n ESSENTRA PLC\n \n \n \n (the \"Company\")\n \n \n \n A leading global provider of essential components and solutions\n \n \n \n \n \n RESULTS FOR THE FULL YEAR ENDED 31 DECEMBER 2019\n \n \n Group materially simplified, with all three global divisions well set for growth and robust performance in line with expectations\n \n \n \n \n \n Summary:\n \n \n \n \n \n · \n FY 2019 results build on positive underlying momentum seen since inflection point of H2 2018 \n \n \n \n \n \n Ø \n Like-for-like revenue decline of 0.7%\n \n \n § \n +1.5%, on an underlying basis\n \n \n \n \n \n Ø \n Adjusted operating profit down 5.4% (at constant FX) to £87.5m notwithstanding portfolio simplification successfully completed during the year; adjusted operating margin +10bps to 9.0% (at constant FX)\n \n \n § \n Adjusted operating profit +2.0%, on an underlying basis\n \n \n \n \n \n Ø \n Reported operating profit of £80.0m versus £47.2m in 2018\n \n \n \n \n \n Ø \n Adjusted basic EPS lower by 9.7% (at constant FX) at 21.3p (2018: 23.5p)\n \n \n Ø \n Reported basic EPS of 14.7p compares to 9.3p in 2018\n \n \n \n \n \n · \n Net debt of £284.4m, with net debt / EBITDA to 2.0x (after applying IFRS 16) \n \n \n \n \n \n Ø \n Net debt of £233.7m and net debt / EBITDA of 1.9x before applying IFRS 16\n \n \n \n \n \n · \n Full year dividend maintained at 20.7p per share\n \n \n · \n Further good progress on all key metrics of the stability programme.\n \n \n \n \n \n · \n Simplification of the portfolio, allowing the Specialist Components division to be dissolved at the end of Q3 2019.\n \n \n − \n Funds used in part for two value-creating acquisitions, plus JV partner buy out in Filters Dubai\n \n \n \n \n \n · \n Further strategic, financial and operational progress expected in FY 2020\n \n \n \n \n \n \n \n \n Results at a glance:\n \n \n \n \n \n \n \n \n \n FY 2019\nAfter applying IFRS 16\n \n \n \n \n FY 2019\nBefore applying IFRS 16\n \n \n \n \n FY 20181\n \n \n \n \n % change Actual FX2\n \n \n \n \n % change Constant FX2\n \n \n \n \n \n \n Revenue \n \n \n \n \n £974m\n \n \n \n \n £974m\n \n \n \n \n £1026m\n \n \n \n \n -5\n \n \n \n \n -6\n \n \n \n...