VICTORIA PLC (VCP) — Audited results for the year ended 29 March 2025

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the VICTORIA PLC 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 your questions submitted today and publish responses, which 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, Jeff Wilding. Good afternoon to you. Good afternoon, and thank you very much for joining joining the call. Yesterday, we published our FY twenty five results and confirmed the refinancing of our 2026 bonds. In summary, the last year's demand remains subdued throughout the year, and the focus, therefore, was on delivering the cost savings we set out at the time of our interim results in November. The result was that h two EBITDA was up more than 25% on h one on more or less flat revenues, and q four was the strongest period of the year. This year, we are continuing to execute on cost savings, which are expected to yield an additional 70,000,000 per annum of savings over the next eighteen months. We will set this out in some detail, of these various projects during the course of this presentation. The bond transaction that we announced, exchanging the existing 2026 notes for new 2029 notes, has removed the near term refinancing risk without equity dilution. It's increased the company's liquidity and provided more than sufficient runway for the company to deliver the 70,000,000 of cost saving projects that we will...