Brambles Limited (BXB) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Brambles Limited 2023 full year results briefing. All participants are in a listen only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Graham Chipchase, Chief Executive Officer. Please go ahead. Good morning, everyone. and thank you for joining us for our 2023 full year results presentation. Before getting into the results, I want to draw your attention to our announcement this morning that our current Deputy CFO, Joaquin Gill, will be succeeding Nessa as the next CFO of Brambles. I am delighted Joaquin will be taking on the role and look forward to working with him as we continue to transform the business for future success. I'd also like to thank Nessa for her significant contributions over the years and for her continued focus and energy to the role since announcing her retirement. Turning now to the key highlights from our full-year performance on slide three, I'd like to start by saying that this is an outstanding result for Brambles across all aspects of the business. We delivered revenue growth of 14%, driven by price realisation to recover both operating and capital costs to serve increases. Underlying profit growth of 19%, was driven by contributions from pricing actions, which offset input cost inflation, other cost-to-serve increases, and overhead investments to support growth and transformation benefits. These higher earnings, combined with favorable working capital movements and an increase in other cash flows, were the key contributors to the $398 million improvement in free cash flow after dividends, which wa...