Business
Morgan Advanced Materials Full Year 2023 Results
Morgan Advanced Materials Full Year 2023 Results.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n\n \n\n \nFull-year results for the period ended 31 December 2023\nResults in line, business simplification announced, higher growth outlook\n \n\n\n\n\n£ million\nunless otherwise stated\n \n\n\n \n2023\n\n\n \n2022\n\n\nAs reported\nchange\n\n\nOrganic\nconstant- currency1 change\n\n\n\n\nAdjusted results\nRevenue\n\n\n \n1,114.7\n\n\n \n1,112.1\n\n\n+0.2%\n\n\n+2.5%\n\n\n\n\nGroup adjusted operating profit1\n\n\n120.3\n\n\n151.0\n\n\n(20.3)%\n\n\n(16.6)%\n\n\n\n\nGroup adjusted operating profit margin1\n\n\n10.8%\n\n\n13.6%\n\n\n(280)bps\n\n\n\n\n\n\n\nReturn on invested capital1,2\n\n\n17.6%\n\n\n23.7%\n\n\n(610)bps\n\n\n\n\n\n\n\nAdjusted EPS1\n\n\n25.0p\n\n\n33.8p\n\n\n(26.0)%\n\n\n\n\n\n\n\nFree cash flow before acquisitions, disposals and dividends1\n\n\n14.6\n\n\n(46.9)\n\n\n+131.1%\n\n\n\n\n\n\n\nNet debt (excl. lease liabilities)1\n\n\n185.2\n\n\n148.5\n\n\n+24.7%\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nStatutory results\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n1,114.7\n\n\n1,112.1\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n91.9\n\n\n140.8\n\n\n(34.7)%\n\n\n\n\n\n\n\nProfit before taxation\n\n\n77.8\n\n\n131.6\n\n\n(40.9)%\n\n\n\n\n\n\n\nContinuing EPS3\n\n\n16.4p\n\n\n30.6p\n\n\n(46.4)%\n\n\n\n\n\n\n\nContinuing and discontinued EPS3\n\n\n16.6p\n\n\n31.0p\n\n\n(46.5)%\n\n\n\n\n\n\n\nCash generated from continued operations\n\n\n126.3\n\n\n59.1\n\n\n+113.7%\n\n\n\n\n\n\n\nTotal dividend per share\n\n\n12.0p\n\n\n12.0p\n\n\n\n\n\n\n\n\n\n\n1. Definitions of these non-GAAP measures can be found in the glossary of terms on page 46, reconciliations of the statutory results to the adjusted measures can be found on pages 14 to 18. Throughout this report these non-GAAP measures are clearly identified by an asterisk (*) where they appear in text and by a footnote where they appear in tables.\n2. The return on invested capital calculation has been simplified so that it can be calculated from published information and the prior period comparative has been restated. See details on page 17.\n3. EPS is presented on a 'continuing' and a combined 'continuing and discontinued' basis for statutory reporting. Further details are provided in note 8 to the consolidated financial statements.\n \nGroup highlights\n \n\n\n\n\n· \n\n\nO...