Business
Volution celebrates 10th anniversary of IPO
Volution celebrates 10th anniversary of IPO.
About this update from Volution Group Plc
[{"type":"text","content":"\n\n24 June 2024\n \nVolution celebrates 10th anniversary of IPO\n \nVolution Group plc (\"Volution\") is pleased to celebrate the 10th anniversary of its Initial Public Offering on the London Stock Exchange. Volution is a leading supplier of ventilation products in the UK, Continental Europe and Australasia, with the purpose of providing healthy indoor air sustainably.\n \nVolution's shares were listed on the London Stock Exchange on 23 June 2014 at an offer price of 150p per share, implying a market capitalisation of £300 million. At market closing on 21 June 2024, Volution's share price was 454p, implying a market capitalisation of £908 million, and representing an increase of 203%.\n \nThe Company's Total Shareholder Return (\"TSR\") over this period has been 272% compared with the TSR of the FTSE 250 Index of 71%1\n \nOver the last decade, Volution has made significant and sustained progress across financial, operational and ESG metrics2 In particular:\n \n· Volution has delivered a compound annual growth rate of 13.3% in revenue and 12.7% in adjusted earnings per share;\n \n· Volution has undertaken 21 value-enhancing acquisitions across the UK, Continental Europe and Australasia, with acquisition of strong local brands in attractive markets being a core element of Volution's growth strategy. Through geographic diversification, Volution is now present in 17 countries and generates 60% of revenue from non-UK customers;\n \n· Volution has grown employee numbers by 86% since 2014, to 1,871 as of 2023, and the Group continues to prioritise health and safety as part of its zero-harm ambition as well as prioritising employee engagement and development;\n \n· sustainability is at the core of Volution's purpose to provide healthy indoor air sustainably. Significant progress has been made since IPO against the Company's key targets with 70% of revenue generated from low-carbon products (up from 43% in 2014), of which over 30% of total revenue comes from heat recovery ventilation;\n \n· Volution is committed to a net zero carbon future, and we have reduced the Company's scope 1 and 2 carbon intensity (tCO2 per £'million of revenue) from...