Melrose Industries PLC (MRO) Q4 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.939 Well hello everyone and welcome to Melrose 2024 results. 00:00:04.939 -- 00:00:08.745 It's great to see so many of you here in London with us and I know we've got lots of 00:00:08.745 -- 00:00:14.615 others on the webcast too. So welcome to you all and thanks for joining us. 00:00:14.615 -- 00:00:19.843 Now this is actually our third set of results as a focused aerospace technology business. 00:00:19.843 -- 00:00:21.546 2024 00:00:21.546 -- 00:00:26.770 was a busy and successful year for us. And we've got good momentum going 00:00:26.770 -- 00:00:31.298 into 2025. And clearly, we're going to cover lots of that shortly. 00:00:31.298 -- 00:00:36.547 But importantly, today, we're also announcing new five-year targets. 00:00:36.547 -- 00:00:42.097 These are built on our clear plans for our repositioned aerospace group. 00:00:42.097 -- 00:00:45.704 And they also reflect our confidence and our excitement about where we're going to take 00:00:45.704 -- 00:00:48.265 Melrose from here. 00:00:49.103 -- 00:00:54.255 So running order today is I'll give some highlights on all of this up front 00:00:54.255 -- 00:00:57.883 and then Matthew will do 2024 and 2025 00:00:57.883 -- 00:01:03.652 before I return to talk in more detail about these five year targets. 00:01:03.757 -- 00:01:06.299 Let's just get started with some headlines. 00:01:06.299 -- 00:01:11.965 Firstly, as I said, we delivered a strong performance in 2024 with profit 00:01:11.965 -- 00:01:14.227 at the top end of expectations 00:01:14.227 -- 00:01:18.812 against a backdrop of what we all know has been a difficult time in the industry with 00:01:18.812 -- 00:01:21.392 supply chain challenges. 00:01:21.394 -- 00:01:25.018 This progress continues with our positive momentum into 2025. 0...