Coats Group plc (COA) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay. Good morning, everybody. I'm delighted to welcome you to today's presentation covering our financial year 2025. Let's move to the first slide. This is today's agenda. First, I'm going to take you through the highlights of the year. Hannah will then present our financial performance. And after that, I will give a strategic update, including our new divisional structure, our growth drivers, and our updated medium-term targets. After the summary and outlook, we take your questions. So let's start with the highlights of the year. 2025 has been my first full year as chief executive of the group, and it has been a year of significant evolution for the business, with two significant M&A transactions, resilient trading in a challenging market, and great progress in our growth initiatives. As a result, today we announce renewed and more ambitious medium-term targets. In 2025, we have acquired Ortholite and divested our U.S. yarns business. We have demonstrated once more our ability to gain market share, reflecting the benefits of differentiators that our competitors cannot match. And our new target, organic adjacencies, have added one percentage point to growth at group level. Finally, we have delivered a record level of free cash flow of 160 million. For reference, this is more than the free cash flow that we have delivered in the past 10 years combined, and it reflects the new and improved cash generation profile of the group, following the end of UK pension contributions and the end of large restructuring activities. With that, I will hand over to Hannah to take you through our financial performance. Thank you, David, and good morning, everyone. Now, before I start, it's worth noting that the Americas Yarns business has been treated as a discontinued operation and is...