Business
Results for the Full Year Ended 31 December 2024
Results for the Full Year Ended 31 December 2024.
About this update from Essentra Plc
[{"type":"text","content":"\n\nESSENTRA PLC\n(\"Essentra\", the \"Group\" or the \"Company\")\n \nRESULTS FOR THE FULL YEAR ENDED 31 DECEMBER 2024\nFY24 performance in line with previous guidance and market expectations\n \nResults at a glance\n\n\n\n\n \n\n\n 2024 \n£m\n\n\n2023\n £m\n\n\nChange Constant FX\n\n\nChange Actual FX\n\n\n\n\nRevenue\n\n\n302.4\n\n\n316.3\n\n\n+0.3%\n\n\n(4.4)%\n\n\n\n\nAdjusted1 operating profit\n\n\n40.1\n\n\n43.2\n\n\n+2.3%\n\n\n(7.2)%\n\n\n\n\nAdjusted1 operating margin\n\n\n13.3%\n\n\n13.7%\n\n\n+30bps\n\n\n(40)bps\n\n\n\n\nAdjusted1 pre-tax profit\n\n\n31.2\n\n\n40.7\n\n\n(15.9)%\n\n\n(23.3)%\n\n\n\n\nAdjusted1 basic earnings per share\n\n\n8.5p\n\n\n10.6p\n\n\n(11.9)%\n\n\n(19.8)%\n\n\n\n\nAdjusted1 net cash flow from operating activities\n\n\n36.4\n\n\n48.2\n\n\n-\n\n\n(24.5)%\n\n\n\n\nReported operating profit\n\n\n14.6\n\n\n10.9\n\n\n-\n\n\n+33.9%\n\n\n\n\nReported pre-tax profit\n\n\n5.7\n\n\n8.4\n\n\n-\n\n\n(32.1)%\n\n\n\n\nReported net profit\n\n\n11.6\n\n\n5.8\n\n\n-\n\n\n+100%\n\n\n\n\nReported basic earnings per share\n\n\n4.0p\n\n\n2.0p\n\n\n-\n\n\n+100%\n\n\n\n\nDividend per share\n\n\n2.8p\n\n\n3.6p\n\n\n-\n\n\n(22.2)%\n\n\n\n\nReported net cash inflow from operating activities2\n\n\n25.7\n\n\n33.3\n\n\n-\n\n\n(22.8)%\n\n\n\n\nFree cash flow2\n\n\n22.5\n\n\n37.3\n\n\n-\n\n\n(39.7)%\n\n\n\n\nNet debt excluding lease liabilities4\n\n\n68.2\n\n\n31.6\n\n\n-\n\n\n-\n\n\n\n\nNet debt excluding lease liabilities to adjusted EBITDA3,4\n\n\n1.3x\n\n\n0.5x\n\n\n-\n\n\n-\n\n\n\n\nNumbers reported on a continuing operations basis\nHighlights\n\nRevenue of £302.4m (2023: £316.3m), 0.3% growth on a constant currency basis, 2.7% decline on a like-for-like5 (\"LFL\") basis\nGross margin expansion to 45.3% (2023: 44.8%). All three geographic regions have delivered gross margin improvement\nAdjusted1 operating profit £40.1m (2023: £43.2m), representing operating margins of 13.3% (2023: 13.7%) and 30bps margin accretion on a constant currency basis\nAdjusted1 net cash inflow from operating activities of £36.4m; conversion of 90.8%\nNet debt of £68.2m excluding IFRS16 lease liabilities (2023: £31.6m), representing leverage of 1.3x adjusted EBITDA3 in line with <1.5x guidance\n\n \nOperational performance\n\nEssentra...