Babcock International Group PLC (BAB) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Three, two, one, action. Right, well, welcome to our full year results. Obviously, a bit trailed last week with the pre-announcement, but a lot more detail here, a lot more to get your teeth into. Before I put any slides up, I think it's really important to... to make sure we get the right balance in this presentation. I think when I look back over four years in this company, In the first year, we had a spike just because we managed to avoid a rights issue. You know, that was the kind of territory we were in. Now we're in a completely different territory. And hopefully what we'll lay out through is not just the journey, but kind of where we are, sit rep on today, but also what I think is a tremendously exciting future for what is becoming one of the world's most important defense companies. So... We've made really good progress towards our medium-term guidance. If you take the three, cash, we've been well ahead for three years. Growth is well ahead for three years. Margin, probably about where we expect it to be. But we always said there would be a bit of a trade-off between growth and margin. If we grew more, probably margin would lag a bit just because of the way you account for new programs. So on the whole, I think really significant progress on all three. And all three looking, more importantly, looking sustainable rather than something you hit and then drop away from. So strongly positioned in terms of our portfolio. We've always said there are bits we would trim when the time is right. There are things we'd like to buy when the time is right. But every company is always in that position. So 74% defense. with a clearly differentiated proposition that having spent time at RIET and Farnborough with actually all three domains, four domains actually, including spac...