Business
Final Results, Analyst Briefing & Investor Pres
Final Results, Analyst Briefing & Investor Pres.
About this update from Van Elle Holdings Plc
[{"type":"text","content":"\n\n24 July 2024\n \nVan Elle Holdings plc\n('Van Elle', the 'Company' or the 'Group')\n \nResults for the year ended 30 April 2024\nAnalyst Briefing & Investor Presentation\n \n'Resilient FY2024 performance; well positioned in structural growth markets'\n \nVan Elle Holdings plc, the UK's largest ground engineering contractor, announces its results for the year ended 30 April 2024 ('FY2024').\n \n\n\n\n\n£m\n\n\nYear ended\n30 April 2024\n\n\nYear ended\n30 April 2023\n\n\n\n\nRevenue\n\n\n139.5\n\n\n148.7\n\n\n\n\nUnderlying EBITDA1\n\n\n13.1\n\n\n11.9\n\n\n\n\nUnderlying operating profit\n\n\n5.5\n\n\n5.8\n\n\n\n\nUnderlying operating profit margin\n\n\n3.9%\n\n\n3.9%\n\n\n\n\nOperating profit\n\n\n5.8\n\n\n5.9\n\n\n\n\nUnderlying profit before taxation\n\n\n5.1\n\n\n5.3\n\n\n\n\nProfit before taxation\n\n\n5.6\n\n\n5.4\n\n\n\n\nUnderlying basic earnings per share\n\n\n3.5p\n\n\n4.4p\n\n\n\n\nBasic earnings per share\n\n\n3.9p\n\n\n4.4p\n\n\n\n\nNet funds excl. IFRS 16 property and vehicle lease liabilities2\n\n\n5.5\n\n\n7.5\n\n\n\n\nNet funds / (debt)\n\n\n(1.6)\n\n\n0.4\n\n\n\n\nUnderlying return on capital employed\n\n\n10.5%\n\n\n12.2%\n\n\n\n\nTotal dividend for the year\n\n\n1.2p\n\n\n1.2p\n\n\n\n\n1. EBITDA is defined as earnings before interest, tax, amortisation and depreciation.\n2. IFRS 16 property and vehicle lease liabilities as at 30 April 2024 were £7.1m (30 April 2023: £7.2m).\n \nHighlights:\n \n· Revenue in line with expectations, 6% below the prior year, against a strong comparative (12% lower on a like-for-like basis).\n· Resilient performance delivering an underlying operating margin of 3.9%, consistent with FY2023, despite challenging market conditions.\n· Acquisition of Rock & Alluvium in November 2023 which established a stronger presence in London and the South East and has traded in line with the pre-acquisition plan.\n· Impact of a softer housing market partially mitigated by the Group's diverse customer base including partnership and affordable housing customers.\n· Good progress in developing closer customer relationships in the energy and water sectors....