Currys Plc U/Adr (CURYY) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

In a moment, Bruce is going to talk through the numbers for the last financial year, and then I'm going to come back on and talk a little bit about how we delivered them. And the story you're going to hear is one of strengthening performance in still tough markets. It's the story of us doing what we set out to do at the beginning of the year, of continuing some pretty encouraging momentum that we've built up in the UK business, getting the Nordics business back on track, and making sure that our balance sheet and liquidity remain strong. And I'm pleased to say we've shown good progress on all three of those, which is what's allowing us to look ahead with some confidence and commit to what we expect is growing profits and free cash flow this year, year on year, and to a prosperous future. And with that, I'm gonna hand over to Bruce. Thank you, Alex. Good morning, everybody. Hope you're well. So as Alex said, I'm going to walk through the financials. And if I can quickly start with the usual performance summary. Let me stand to one side so you can see the slides. From a revenue perspective, as you're aware, our revenue was down 2% year on year. Now, within that, you will have seen that since the end of the financial year and certainly during the quarter four, we saw some positive momentum. From a profit perspective, despite sales being down, our profits stepped forward by 10% to 118 million. We had strong free cash flow. Cash flow was 82 million, up 164 million year on year. And with the strength of our free cash flow, focus on the balance sheet and the sale of our Greek business, we went from having a net debt position of 97 million last year to a net cash position of 96 million. Our adjusted EPS stepped forward by 7%. And as you're aware, we didn't pay a dividend las...