EUROCELL PLC (ECEL) — Preliminary Results

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the EUROCELL PLC full year results investor presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time by the Q and A tab situated in the right hand corner of your screen. Just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself, but the company can review all the questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to select the following poll. Now I'd like to hand you over to CEO, Darren Waters. Good morning to you, sir. Thank you, Ali, and good morning, everyone. Welcome to EUROCELL's 2024 results presentation. I'm Darren Waters, CEO, and alongside me is Michael Scott, CFO. We're following the usual format for this morning's presentation, including an update on our strategic initiatives plus an overview of Valinet, our recent acquisition. So let's start by looking back over last year. Well, 2024 was another challenging year, but a year of progress for EUROCELL with adjusted profit before tax, bang in line with market expectations at £20,000,000. That's up 32% versus 2023. And I think against the backdrop of a tough market, we delivered a robust sales performance with revenues down just two percent 358,000,000. And this is down to the good early progress we've made with all of our customer growth initiatives, and more detail on that later in our presentation. We also delivered on our commitment to drive improved shareholder returns, completing three share buybacks worth £15,000,000 in total, which reduced the number of shares in circulation from a 112,000,000 to a 101,000,000. In addition, we increa...