STRIP TINNING HOLDINGS PLC (STG) — Full Year Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the STRIP TINNING HOLDINGS PLC Full Year Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question or receives during the meeting itself. However, the company can review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I would like to submit the following poll. And I would now like to hand you over to Executive Chairman, Adam Robson. Good afternoon to you. Good afternoon, everyone. Thank you very much for joining us in good numbers. We're very pleased to talk to you today. We're here to tell you about our 2023 results and also give you an outlook for the business. Our results are, as we indicated in January, good progress on sales and EBITDA, we'll go into more details on that, good progress on cash. And I think for me, the most important metric in the business is that our gross margins in the glazing division, which as you know, is the core cash generator for the business, improves from 3.6% to 28.7% in the year. And that was a run rate improvement actually exited 2023 at a higher rate. And we look like we're reaching 40% in 2024, which is our target rate. And that returns the glazing division to being the profitable cash generator that we've expected to be. And you'll also hear it's also a high growth part of the business with the significant new wins we have. So close to year end, we had two important events. One was the fundraise, which again we were delighted with and pleased with the respo...