Croda International Plc (CRDA) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.515 Good morning, everyone. So many thanks for joining us for today's presentation. 00:00:04.515 -- 00:00:09.240 And it's great to be with you all. As well as running through our financial results, 00:00:09.240 -- 00:00:14.005 we're going to do a deeper dive on the plan we're expecting to grow, executing to grow 00:00:14.005 -- 00:00:18.509 earnings and improve results. And we will also set out our financial framework for the 00:00:18.509 -- 00:00:23.354 next three years. So a slightly longer presentation than normal, which Stephen and I 00:00:23.354 -- 00:00:27.217 will carve up between us before taking your questions at the end. 00:00:27.217 -- 00:00:31.262 So, starting with our performance in 2025. 00:00:31.262 -- 00:00:36.108 Overall, we're pleased with how the business has performed in a very uncertain environment. 00:00:36.108 -- 00:00:42.175 Sales grew 7% in constant currency, reflecting the benefits of a much stronger portfolio. 00:00:42.175 -- 00:00:47.401 And sales of patented ingredients were up 9%, with demand for innovation at its highest 00:00:47.401 -- 00:00:52.769 level since before the pandemic. And our net promoter scores increased by 11 00:00:52.769 -- 00:00:57.995 points as service, collaboration and more importantly than that, trust continued 00:00:57.995 -- 00:01:03.022 to improve across our customer base. And whilst margins remain well below where 00:01:03.022 -- 00:01:08.409 we want them to be, they improved both in consumer care and in life sciences, 00:01:08.409 -- 00:01:14.230 contributing to an 8% increase in profits with PBT in line with our guidance. 00:01:14.230 -- 00:01:19.457 Free cash flow also improved in the second half due to lower working capital 00:01:19.457 -- 00:01:22.521 and capex strengthening...