Avon Technologies Plc (AVNBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well, good morning everybody. Thank you for those of you that came to see us face-to-face and thank you for joining those on the telephone lines. A lot has happened in the last six months. Geopolitical and economic uncertainty have both increased substantially. But in the face of the turmoil, we remain resolute in pursuing our strategy and improving our businesses. We still control most of our own destiny and we're holding our medium-term guidance. We're growing sales and profit fast. And we're achieving this while increasing spend in R&D and developing exciting new products to drive future growth. And we're building our people's capability to enable our improvement activities to accelerate even more. We've moved all production out of our Californian helmet facility three months ahead of schedule. And we're busy ramping up production in Salem and Cleveland. Over the last year, we've effectively built and commissioned an entirely new factory in Cleveland. And we're also improving all of our other plants fast. Our order book has hit another record high. This does give us confidence that we will continue to grow into the future. We remain on track to achieve our margin targets in 2026, which is a year early. I'll now hand over to Rich. He'll take us through the numbers, and then Steve will come onto the stage and also talk about the respiratory business, which, as you would have seen, is performing extremely well. Thanks, Josh. Good morning, everybody. So before moving on to the numbers, let's look at what has changed in a very dynamic global environment, both from a conflict and a trading perspective. Government efficiency measures in the U.S. have targeted several areas, including the military. We're closely watching what is happening, but we haven't yet seen anything...